Promus Equity Partners Announces the Acquisition of ProSteel Security Products

Chicago – Promus Equity Partners, LLC (“Promus”), the private equity investment arm of Promus Capital, headquartered in Chicago, IL, is pleased to announce the acquisition of ProSteel Security Products, Inc. (“ProSteel”). Based in Provo, Utah, ProSteel is a leading provider of gun safes marketed under the Browning ProSteel brand, as well as other vault doors and security enclosures. The company is well-regarded for its superior product design and high quality security products.

“The company’s differentiated products and proprietary technologies, marketed in partnership with Browning, made this an attractive investment opportunity for us,” stated Zach Musso, Managing Partner of Promus Equity Partners. Together, ProSteel and Browning have been providing gun safes to independent gun and gun safe, and national and regional hunting, fishing and sporting goods retailers for nearly thirty years. Sarah Wuellner, a Principal at Promus Equity Partners, added, “We are thrilled to be partnering with ProSteel’s management team who has developed an impressive pipeline of growth opportunities and a stellar reputation for outstanding customer service.” Promus acquired the business in partnership with management on March 31, 2011.

Terms of the transaction are confidential. Senior debt was provided by US Bank. Baker & McKenzie LLP provided legal counsel and Crowe Horwath LLP provided accounting and tax due diligence services to Promus Equity Partners in connection with the transaction.

For more information on this acquisition, please contact Sarah Wuellner or Anders Rosenquist.

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