Euro Protection

Who owns Euro Protection?

Euro Protection was owned by Andera Partners through Winch Capital 1 (2008 vintage) from 2011 to 2017, exited via Secondary.

Buyer identity available on Pro.

Hand-verified · updated 2026-04-21

About Euro Protection

Euro Protection, which markets its range under the Coverguard brand, is a France-based manufacturer and distributor of personal protective equipment for industrial and construction workers. Its catalogue spans hand protection, safety footwear, high-visibility and workwear garments, rainwear and welding apparel, head, eye and respiratory protection, fall-arrest systems and disposable products, amounting to several hundred distinct safety references. The business is positioned as a broad-line PPE supplier serving professional distributors rather than a single-category specialist, and it competes in a European safety-equipment market that also includes larger listed players such as Delta Plus. According to company and trade disclosures, Coverguard-branded products are sold in more than 100 countries, and the group sells on the order of 32 million items of protective equipment each year. The company traces its safety heritage to welding gloves and aprons first produced in artisanal workshops in the Lyon area, a lineage it still cites as the root of its industrial expertise.

Ownership journey

Euro Protection grew out of a long-established French safety-equipment lineage rooted in the Lyon region, building over decades into an international PPE manufacturer and distributor operating from a base near Lyon. In 2011 the company was backed by Andera Partners through its Winch Capital 1 fund, the mid-cap growth-capital strategy that invests in European companies to support international development and consolidation. Andera Partners held the position for several years as Euro Protection expanded its product range and geographic footprint. The fund exited in 2017 via a secondary transaction. In line with this site's disclosure policy, the party that acquired the business at exit is not named here.

Under PE ownership

During Andera Partners' ownership between 2011 and 2017, Euro Protection pursued the international expansion of its Coverguard-branded PPE, broadening distribution of gloves, footwear, workwear and technical protective equipment across professional channels in Europe and beyond. The company reinforced its multi-category positioning, carrying a wide catalogue of safety references and building the logistics and stock base needed to serve a distributor network spanning more than 100 countries. Volumes reached the scale of tens of millions of protective items shipped annually, consistent with the broad-line PPE supplier model the company had adopted. The consolidation of its historical product lines under the single Coverguard brand followed later, in 2020, after the Winch Capital hold period. Reported group revenue for the operating entity remains modest relative to the largest listed peers, reflecting a focused mid-market PPE business rather than a mass-scale industrial group.