AEI Closes Third Cross-Fire Add-On
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AEI Closes Third Cross-Fire Add-On

Buy of Adcock is Cross-Fire's third add-on acquisition since being acquired by AEI in May 2021

Cross-Fire designs, engineers, installs, maintains and monitors fire and life safety systems

SOURCE: Cross-Fire & Security Co.

Cross-Fire & Security Co., a portfolio company of AE Industrial Partners, has acquired Adcock’s Systems, a fire alarm, electrical and sprinkler contractor.

St. Charles, Maryland-based Adcock provides fire alarm, electrical and emergency systems services to private customers, property management firms, general contractors and electrical contractors. The company also provides sprinkler and fire extinguishers through ATS Fire Protection. Adcock was founded in 1998 by George Adcock and Michael Stone and is currently led by CFO Benjamin Thompson and GM Dave Dunnington.

“We’re pleased to be joining the Cross-Fire platform and gaining additional financial and operational resources, which will be a competitive advantage as we continue to grow our business,” said Mr. Dunnington.

Brooklyn-based Cross-Fire designs, engineers, installs, maintains and monitors fire and life safety systems for a variety of customers. The company has completed several projects in New York, including the Marriott Marquis Hotel, The Vessel at Hudson Yards, The Intrepid Museum and St. Patrick’s Cathedral.

AEI acquired Cross-Fire in May 2021 and the buy of Adcock is the company’s third add-on acquisition and follows the buys of Massachusetts-based fire alarm and life safety services provider NISCO (December 2021) and New York state-based fire alarm, fire suppression, fire extinguishers, security and life safety systems provider Alarm & Suppression (November 2021).

“Adcock’s services align well with our existing operations, and we believe the addition will be a strong fit for Cross-Fire,” said Brendan Doorly and Kevin Maguire, the co-founders of Cross-Fire in a released statement. “We welcome the Adcock team and look forward to serving new customers with the same high level of service that Cross-Fire is known for within the industry.”

“With the addition of Adcock, Cross-Fire is expanding its footprint south to the Washington DC market, a logical extension to its existing Northeastern operations,” said Charlie Santos-Buch, a partner at AEI. “Additionally, Adcock broadens Cross-Fire’s service offering as a one-stop solution for its customers with the addition into the sprinkler business.”

Boca Raton-based AEI invests in the aerospace and defense, power generation, and specialty industrial sectors. Typical company targets will have from $50 million to $500 million of revenue. In July 2018, the firm held a final hard-cap closing of its second private equity fund, AE Industrial Partners Fund II LP, with $1.36 billion in commitments.

© 2022 Private Equity Professional | March 22, 2022

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