Safety equipment manufacturer Capital Safety plans to move its global headquarters to the Twin Cities—and it's hired a new chief executive to oversee its growing operations.
Jeff Halbach, Capital Safety's North American communications manager, on Wednesday told Twin Cities Business that the company—which is currently based in London—will move its corporate headquarters to the Twin Cities, likely to the International Plaza building in Bloomington. He expects the move to occur within the next three months.
Capital Safety manufactures fall protection equipment under the DBI Sala, Uniline, and Protecta brands. Its products include harnesses and anchors used by workers on roofs and other tall structures. The company employs about 1,000 workers at 20 manufacturing, distribution, and training facilities throughout the world—including a plant in Red Wing, which employs roughly 400.
The new corporate office will house between six and 12 senior-level employees, including Stephen Oswald, who will take the reins as CEO on March 26.
Oswald has held several executive roles during the past 15 years at Hartford, Connecticut-based United Technologies Corporation, where he served as the "integration leader" for the company's acquisition of GE Security, Capital Safety said.
Oswald said in a statement that he will focus on expanding the company's global footprint, and he sees "unlimited potential in the future" for the company.
Capital Safety was acquired in January by New York-based investment firm Kohlberg Kravis Roberts & Co. L.P. for $1.12 billion. Capital Safety President Kevin Coplan told the Star Tribune that the private company's annual revenue totals about $350 million.