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Case Studies
Code Red Safety and Rentals
Positioning a leading safety provider for more growth and reach.
For over 25 years, this leading industrial safety platform has supported mission-critical safety needs in the power, steel, chemical, refining and industrial markets. Founded in the Midwest, the company now operates through eight branches across the United States, providing offerings that include safety equipment rental, standby rescue services, safety personnel staffing and in-plant communication solutions. Hastings has partnered with the Code Red founders and leadership, as well as industry veterans, to accelerate growth and expand geographic reach.
Challenges
Getting the growth capital to scale rental equipment fleet
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Expanding beyond legacy Midwest and Gulf Coast presence
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Streamling accounting and finance processes to accommodate significant growth
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Differentiating service offerings from its competitors
Value Creation
Recruited CFO, VP of Technology and VP of Business Development to enhance corporate staff and support a scaling organization
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Completed and integrated strategic add-on acquisition of Critical 2-Way Communications to increase Code Red’s service offering into in-plant communications solutions
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Expanded business’ geographic reach with the addition of a California and Oklahoma branch
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Supported capital investment and launch of new Turnaround Division to strengthen the existing equipment rental business
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Established a board of directors, including two independent directors with extensive experience in safety technology and the chemical industry
Conclusion
Less than six months into investment, Hastings has brought capital and experience to the Code Red platform, repositioning it as a leading provider of industrial safety solutions.
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With its enhanced rental fleet and new Turnaround Division, the
company is well-equipped to service large-scale projects. Its
combination of best-in-class service and a strengthened bench of
leaders has set Code Red up for a whole new level of growth.