Behrman Capital Backs BECO Again
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Behrman Capital Backs BECO Again

brooks equipment nf1Behrman Capital has acquired BECO Holding Company (BHC) from Freeman Spogli & Co. BHC is a distributor of fire protection equipment and owns Brooks Equipment Company, Logistics Supply Company, and Heiser BHC.   Behrman had previously owned a majority stake in BHC from 1998 to 2010, when it sold the company to Freeman Spogli.

BHC is a business-to-business wholesale distributor of first-response fire protection equipment and related parts. With 18 locations across the United States, the company  offer customers access to an inventory of over 12,000 fire equipment and maintenance, repair and operations (MRO) products from over 400 manufacturers. The company was founded in 1941 and is headquartered in Charlotte, NC (www.brooksequipment.com).

grant behrman nf1“It is a pleasure to be working with CEO Eric Smith and the BHC team once again. We know the company very well, having helped to build it through organic growth and several successful acquisitions during our prior investment period,” said Grant Behrman, Managing Partner of Behrman Capital.  “BHC is a great business that provides critical products for essential services. With its strong growth profile, outstanding leadership team and capital efficient business model, we are very excited about the potential for additional value creation in the years ahead.”

Behrman Capital invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The firm’s investments are primarily focused in four industries: health care, specialty manufacturing, business to business outsourcing and defense.  The firm has raised five funds with a combined capital base in excess of $3 billion.  Behrman Capital was founded in 1991 by Grant G. and Daryl G. Behrman and has offices in New York and San Francisco (www.behrmancap.com).

“We are truly delighted to be partnering with Behrman Capital again,” said Eric Smith, the company’s CEO. “We have an excellent relationship with Grant Behrman and his team, who helped to lead one of the most successful periods in the company’s history.  Behrman’s expertise and deep knowledge of our business will help us continue to execute on our growth strategy, which means serving our current customers at the same high level as always while adding new products to our distribution network and pursuing new opportunities in attractive markets. On behalf of the BHC team, I would like to thank Freeman Spogli for its tremendous support over the last four years.”

Harris Williams & Co. acted as financial advisor to BECO Holding Company.

© 2014 PEPD • Private Equity’s Leading News Magazine • 9-2-14

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