Red Hawk Fire & Security, a portfolio company of Comvest Partners, has acquired Integrated Systems of Florida. Red Hawk was formed by Comvest in April 2012 when it acquired the US fire and security operations of United Technologies.
Integrated Systems of Florida (ISOF) provides security systems integration services to companies in the healthcare, hospitality, government, religious and education industries. The company’s systems service areas include fire alarm and security; access control; CCTV and intercom; emergency and mission critical power; monitoring; and automatic service dispatch. ISOF was founded in 2001 by Walter and Candace Wiseman and is headquartered near Tampa in Oldsmar, FL with sales and service offices in Orlando and Tallahassee (www.isofinc.com).
Red Hawk Fire & Security installs, tests, inspects, integrates, services and monitors safety and security systems for approximately 50,000 businesses nationwide. The company has 1,400 employees and is headquartered in Boca Raton, FL (www.redhawkus.com).
Dallas-based investment bank Generational Equity (www.genequityco.com) was the financial advisor to ISOF. The Generational Equity team was led by Managing Director Julie Sandoval and Vice President Rebecca Gruman. Mario Dieckmann, an affiliated advisor to Generational Equity, was also on the transaction team.
Comvest Partners provides debt and equity to middle-market companies. For debt investments the firm will invest from $10 million to $50 million per transaction in companies with at least $15 million of revenue and EBITDA of at least $3 million. For equity investments the firm will invest from $35 million to $125 million of equity per transaction in companies with $50 million to $1 billion of revenue that have positive or negative EBITDA. Comvest is based in West Palm Beach with additional offices in Chicago, New York, and Los Angeles (www.comvest.com).
The buy of ISOF by Red Hawk closed on January 31, 2017.
© 2017 Private Equity Professional | March 1, 2017
