Gredale Acquires Majority Stake in Maskco Technologies Inc.

Gredale LLC has entered into a definitive agreement with Maskco Technologies Inc. to acquire a majority interest in the Miami-based personal protective equipment manufacturer.
 
The companies have elected to not disclose the exact financial terms of the agreement. However, Maskco Technologies CEO Scott H. Weissman stated, “The enterprise valuation of Maskco Technologies was set at $4.4 billion based on an additional infrastructure investments and credit facilities totaling $400 million and a performance based structured payout over the course of five years.”
 
Gredale and Maskco Technologies began a partnership in June 2020 as a joint venture distribution agreement for the distribution of Maskco Technologies MTech 95 Respirators, which was followed by a strategic manufacturing partnership, investment and credit facility totaling $100 million by Gredale in November 2020.  
 
In addition to the acquisition of the majority interest of common stock, Gredale will now oversee all manufacturing and packaging of the MTech 95 Respirator in various production facilities throughout the United States, and will also oversee all distribution of the MTech 95 Respirator in North America, South America, Europe, Africa, and Asia. 
 
“The acquisition of Maskco Technologies furthers our strategic vision of becoming the largest manufacturer of personal protective equipment in the United States,” said Greg Lorber, CEO of Gredale LLC. “Since beginning our partnership with Maskco Technologies, we have seen a huge demand for high quality, Berry compliant protective respirators which Maskco Technologies has proven they can produce at a cost that can compete with products produced overseas. More importantly, we are proud to be able to domestically produce the MTech-95 in quantities sufficient to ensure our country is never left dependent on protective respirators from overseas, especially in the event of a future pandemic.”  
 
Upon the completion of the transaction, Weissman will continue as CEO of Maskco Technologies and will also be appointed to the Board of Directors of Gredale LLC.
 
Maskco Technologies, Inc., a manufacturer of medical devices, was formed in April 2020 by a group of healthcare professionals who realized the critical need for additional production of N95 Respirators in the United States. The company manufacturers its products under the authorization of Huck Medical Technologies Inc.  

Gredale LLC, based in Los Angeles, has more than nine years of experience in manufacturing, sourcing, and distributing products from around the globe. Recently the company changed its focus toward being a medical-grade personal protective equipment supplier. In 2020 Gredale received its U.S. Food and Drug Administration approval as a North American manufacturer of medical-grade isolation gowns. Gredale’s historical experience in textile and non-woven product development strengthens their ability to deliver quality products in the “woven” and “non-woven” medical supply category.