Overview: 

Lakeland Fire + Safety (“Lakeland”) is a leading global manufacturer of protective clothing for industry, healthcare, and first responders. On March 27, 2026, Lakeland completed the sale of its High-Performance Flame Resistant (“HPFR”) and High-Visibility (“HiViz”) product line to National Safety Apparel (“NSA”), a U.S.-based manufacturer of purpose-built PPE.

Lakeland's HPFR and HiViz workwear lines comprised a comprehensive portfolio of arc-rated and flame-resistant technical garments and ANSI-compliant high-visibility apparel engineered to protect workers in the electrical utilities, construction, and broader industrial end markets. The HPFR line offered arc-rated and FR shirts, outerwear, and layering systems designed for superior comfort, moisture management, and thermal protection against flash fire, arc flash, and combustible dust hazards. The HiViz line provided safety vests, jackets, pants, and outerwear built to meet stringent ANSI visibility standards in demanding jobsite environments.

This divestiture represents Lakeland’s ongoing effort to streamline its portfolio and focus investment on its head-to-toe global Fire portfolio and core industrial PPE business.

“This transaction reflects our continued focus on aligning Lakeland’s portfolio with our long-term strategy,” said Jim Jenkins, President and Chief Executive Officer of Lakeland. “Over the past two years, we have significantly expanded our fire services platform through acquisitions and organic investment, and this divestiture allows us to further concentrate on those opportunities while sharpening our focus on our core industrial PPE markets. This business we divested did not align with Lakeland’s core industrial product strategy. NSA's dedicated focus on PPE across multiple end markets makes them the right home for this business and its customers.”

NSA serves industrial, utility and public-sector customers across key industrial safety categories, including flame-resistant workwear, arc flash and electrical PPE and high-heat industrial protection.

The proceeds from this transaction are expected to support Lakeland’s balance sheet and provide additional flexibility to invest in its fire services strategy.

“This transaction allows us to realize value from the HPFR and HiViz business while increasing our flexibility to allocate capital toward the areas of Lakeland where we see the strongest long-term opportunity,” said Calven Swinea, Chief Financial Officer of Lakeland.

Cherry Tree's Role:

Cherry Tree served as exclusive sell-side financial advisor to Lakeland, helping to identify and solicit strategic acquirers who provide HPFR and HiViz protective apparel for industrial end markets. Cherry Tree prepared comprehensive evaluation materials and a financial model for the standalone business, then drove a targeted, competitive process with the best strategic buyers, managed the due diligence process, negotiated terms, and advised on transaction structure.

About:

About Lakeland Industries, Inc.

Lakeland Fire + Safety (NASDAQ: LAKE) manufactures and sells a comprehensive line of fire services and industrial protective clothing and accessories for the industrial and first responder markets. In addition, Lakeland provides decontamination, repair and rental services that complement its fire services portfolio. Products are sold globally by in-house sales teams, its customer service group, and authorized independent sales representatives to a strategic global network of selective fire and industrial distributors and wholesale partners. Lakeland’s authorized distributors supply end users across various industries, including integrated oil, chemical/petrochemical, automobile, transportation, steel, glass, construction, smelting, cleanroom, janitorial, pharmaceutical, and high-tech electronics manufacturers, as well as scientific and medical laboratories, and the utilities industry. In addition, Lakeland supplies federal, state and local governmental agencies and departments, including fire and law enforcement, airport crash rescue units, the Department of Defense, the Department of Homeland Security and the Centers for Disease Control. Internationally, Lakeland sells to a mix of end-users directly and to industrial distributors, depending on the particular country and market. In addition to the United States, sales are made into more than 50 foreign countries, the majority of which were to China, the European Economic Community (“EEC”), Canada, Chile, Argentina, Commonwealth of Independent States (“CIS”) Region, Colombia, Mexico, Ecuador, India, Uruguay, Middle East, Southeast Asia, Australia, Hong Kong and New Zealand.

For more information concerning Lakeland, please visit www.lakeland.com.

About National Safety Apparel

National Safety Apparel (NSA), established in 1935, is a market leader in flame-resistant clothing (FRC), electrical PPE and products, high-heat and industrial PPE and uniforms. Backed by a legacy of innovation and a commitment to performance, NSA’s brands (DRIFIRE®, Enespro®, Wild Things® and others) offer products with patented technologies, proven designs and flexible solutions built to meet the demands of today’s most challenging work environments. Trusted by distribution partners and end-users alike, NSA continues to invest in advanced manufacturing and customer-driven innovation to help keep workers protected and productive. NSA is a portfolio company of Cleveland-based private equity firm Blue Point Capital Partners.

For more information regarding NSA, please visit www.thinknsa.com.

About Cherry Tree & Associates

Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle-market companies. Additionally, it conducts private placements for high-quality, entrepreneurially managed growth companies, provides strategic advisory services for CEOs and boards of directors, and prepares fairness opinions and other valuation services.

For more information, please visit www.cherrytree.com.