Highview Buys Frontier Fire from Champlain

Highview Capital has acquired Frontier Fire Protection, a fire sprinkler and fire alarm services company, from Champlain Capital Partners which acquired the company in October 2016.

Frontier Fire provides fire sprinkler and fire alarm services including installation, retrofitting, inspection and detection. Customers of the company include general contractors across four states and Frontier Fire is active in a range of end-markets, including multi-family residential, healthcare, mixed-use, industrial, education, government, office, senior housing and retail. Frontier Fire was founded in 1960 and is headquartered in Denver (www.frontierfireprotection.com).

In February 2019, Frontier Fire acquired Cottle Fire Protection, a Utah-based fire safety company; and in August 2018, the company acquired ABC Fire Protection, a Denver-based fire protection company. Now in partnership with Highview, Frontier Fire will continue to pursue organic growth opportunities, including increasing its presence throughout its core geographies and expanding its inspection and alarm offerings. Additionally, Frontier Fire and Highview will pursue add-on acquisitions to enter new geographies and developing new products and services.

Frontier Fire’s management team, including CEO Greg Londo, will continue to lead the company under Highview ownership and will remain shareholders. “We are excited to partner with Highview Capital,” said Mr. Londo. “Frontier Fire is proud to provide quality, forward-thinking safety solutions, and in just a few years, we’ve successfully grown our footprint to reach new customers and become a true one-stop shop for fire and life safety solutions, from design and engineering to fabrication and installation, repair and service, and inspection. I am confident that with Highview’s support, we’ll quickly accelerate into our next phase of growth.”

“We are impressed by the business transformation and strong trajectory that Greg and the Frontier Fire team have led in recent years, and the outstanding reputation for service and quality that they have with their customers and partners,” said Ryan McCarthy, founder and senior portfolio manager of Highview Capital. “Frontier Fire has extraordinary potential for strategic acquisitions and expansions into new geographies. Greg is an outstanding leader with a deep understanding of his customers. We are thrilled to join forces with Greg and his team to continue building the business and tackle a large, fragmented and rapidly growing market.”

Highview Capital, headquartered in Los Angeles, invests from $10 million to $125 million of equity in companies with revenues of $50 million to $500 million and EBITDA of $5 million to $50 million. Typical transaction sizes range from $50 million to $350 million. Highview invests in many sectors and is effectively industry agnostic. The firm sources its capital from a $500 million evergreen fund and is backed by Karlin Asset Management, a Los Angeles-based investment company (www.highviewcp.com).

Champlain Capital Partners, the seller of Frontier Fire, invests in middle-market companies with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. Sectors of interest include manufacturing, consumer products, distribution, healthcare, and non-financial services businesses. The firm was founded in 2002 and has offices in San Francisco and Boston (www.champlaincapital.com).

Lincoln International (www.lincolninternational.com) was the financial advisor to Frontier Fire.

© 2019 Private Equity Professional | April 5, 2019

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