Brady Stock

Brady Corporation (Brady) is a global manufacturer and supplier of identification solutions and workplace safety products that identify and protect premises, products and people. The ability to provide customers with a broad range of proprietary, customized and diverse products for use in various applications across multiple industries and geographies, along with a commitment to quality and service, have made Brady a leader in many of its markets.

Effective February 1, 2023, the company is organized and managed on a geographic basis with two segments: Americas & Asia and Europe & Australia.

Identification Solutions

Primary product categories include:

Product identification, which includes materials, printing systems, RFID and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications.

Facility safety and identification and protection, which includes safety signs, floor-marking tape, pipe markers, labeling systems, spill control products, lockout/tagout devices, and software and services for safety compliance auditing, procedures writing and training.

Wire identification, which includes hand-held printers, wire markers, sleeves, and tags.

People identification, which includes name tags, badges, lanyards, rigid card printing systems, and access control software.

Patient identification, which includes wristbands, labels, printing systems, and other products used in hospital, laboratories, and other healthcare settings for tracking and improving the safety of patients.

Approximately 64% of IDS products are sold under the Brady brand, with other primary brands, including identification products for the utility industry, which are marketed under the Electromark brand and security and identification badges and systems which are marketed under the PromoVision, Brady People ID, BIG, and MAGiCARD brands. Spill control products are marketed under the SPC brand, lockout/tagout products are offered under the Scafftag brand, RFID products are marketed under the Nordic ID brand, and barcode scanners are marketed under the Code brand. Identification and patient safety products in the healthcare industry are available under the People Identification (PDC) Healthcare brand and custom wristbands for the leisure and entertainment industry are available under the PDC brand.

Each region markets and sells high-quality and rapid response IDS products through multiple channels, including distribution, a direct sales force, and digital channels. The direct sales force within each region partners with end-users and distributors by providing technical application and product expertise.

The company manufactures differentiated, proprietary products, most of which have been internally developed. These internally developed products include materials; printing, identification and tracking systems; and software. These products serve customers in many industries within each region, which include industrial manufacturing, electronic manufacturing, healthcare, chemical, oil, gas, alternative energy, automotive, aerospace, governments, mass transit, electrical contractors, education, leisure and entertainment and telecommunications, among others.

Workplace Safety

Primary product categories include:

Product identification, which includes asset tracking labels and asset tags.

Facility, safety and identification and protection, which includes safety signs, traffic signs and control products, floor-marking tape, pipe markers, lockout/tagout devices, personal protection equipment, first aid products, and other workplace compliance products.

Wire identification, which includes handheld printers, wire markers, sleeves and tags.

Products are sold under a variety of brands, including safety and facility identification products offered under the Seton, Emedco, Signals, Safety Signs, SafetyShop, Signs & Labels, and Pervaco brands; first aid supplies marketed under the Accidental Health and Safety, Trafalgar, and Securimed brands; and wire identification products marketed under the Carroll brand.

The company manufactures a broad range of stock and custom identification products, and also sells a broad range of related resale products. Manufactured products comprise approximately 40% of WPS product sales. WPS primarily sells to businesses and serves many industries, including manufacturers, process industries, government, education, construction, and utilities.

Operations

The materials used in the products manufactured by the company consist of a variety of plastic and synthetic films, paper, metal and metal foil, cloth, fiberglass, inks, dyes, adhesives, pigments, natural and synthetic rubber, organic chemicals, polymers, and solvents for consumable identification products in addition to molded parts, electronic components, chips, and sub-assemblies for identification and printing systems. The company operates coating facilities that manufacture bulk rolls of label stock for internal and external customers. In addition, the company purchases finished products for resale.

Strategy

The company’s strategy for growth includes an increased focus on certain industries and products, streamlining its product offerings, expanding into higher growth end-markets, improving the overall customer experience, developing technologically advanced, innovative and proprietary products, and improving its digital capabilities. The following were key initiatives supporting the strategy in fiscal 2023 (year ended July 31, 2023):

Investing in organic growth by enhancing the company’s research and development process and utilizing customer feedback and observations to develop innovative new products that solve customer needs and improve environmental sustainability.

Providing the company’s customers with the highest level of customer service.

Expanding and enhancing the company’s sales capabilities through an improved digital presence and the use of data-driven marketing automation tools.

Executing the company’s reorganization to a regional operating structure to support continued growth in key geographies, facilitating new product development in its recent acquisitions, and simplifying and further integrating its businesses.

Integrating recent acquisitions to further enhance the company’s strategic position and accelerate long-term sales growth.

Building on the company’s culture of diversity, equity and inclusion to increase employee engagement and enhance recruitment and retention practices in order to drive differentiated performance and execute its strategy.

Research and Development (R&D)

The company spent $61.4 million on its R&D activities during the year ended July 31, 2023.

Patents

The company owns patents and tradenames relating to certain products in the United States and internationally.

History

Brady Corporation was founded in 1914. The company was incorporated under the laws of the state of Wisconsin in 1914.