Align Capital Partners has sold Protegis Fire & Safety to Summit Fire & Security, a subsidiary of Summit Companies, a portfolio company of BlackRock.
Protegis Fire & Safety is an Independence, Ohio-based provider of inspection, maintenance, installation, and repair services for fire and security systems and equipment. The company has branches in Ohio, Florida, and the Baltimore-DC region.
Align acquired Protegis in December 2017 and during its ownership term Protegis closed seven add-on acquisitions including ABCO Fire Protection (August 2018), Fireguard (March 2019), Florida Fire Service (November 2019), All American Fire & Safety (January 2020), Complete Alarm System Services (January 2020), Metro Fire Protection Services (February 2022), and PDS Systems (April 2022).
“At Protegis, our shared ambition has been to build the best company in fire protection. We’ve made a great deal of progress on that journey,” said Peter van Niekerk, the CEO of Protegis. “Becoming part of the SFS team is a logical and exciting next step – moving us forward a huge leap and bringing substantial benefits to our customers and employees,”
Headquartered in Reno, Nevada, Summit Fire and Security (SFS) distributes fire protection and safety products, including fire alarms, smoke detectors, sprinklers, fire extinguishers, and fiber cabling.
Through BlackRock Long Term Private Capital (LTPC), BlackRock acquired Summit Companies from CI Capital Partners in September 2021. Summit Companies provides inspection, testing and monitoring, service and repair, installation, and consulting services for fire protection, life safety, and security systems to over 35,000 commercial, industrial, government, healthcare and multi-family residential facilities annually.
“From the beginning, we have been extremely impressed with the passion behind their work. This combination and alignment of industry leaders provides unbeatable expertise that complements each other as our companies continue to grow,” said Nic Brown, Summit Fire & Security president. “It’s no wonder Protegis has stood out as an industry leader, and we’re excited to welcome them to the SFS team.”
“We are proud of the transformation Protegis experienced these past five years – a journey made possible by combining ACP’s operational and growth resources with an excellent management team and dedicated employee base,” said Steve Dyke, a managing partner at Align Capital.
Align Capital Partners makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include business services, technology, specialty manufacturing, distribution, and healthcare. This transaction marks ACP’s fifth exit over the past twelve months.
BlackRock LTPC invests in companies across North America and Western Europe and maintains New York City and London offices. LTPC is backed by BlackRock which manages $283 billion in alternative investments and commitments.
Piper Sandler & Co. was the financial advisor to Protegis on this transaction.
© 2022 Private Equity Professional | May 17, 2022
Align Capital Partners has sold Protegis Fire & Safety to Summit Fire & Security, a subsidiary of Summit Companies, a portfolio company of BlackRock.
“We are proud of the transformation Protegis experienced these past five years – a journey made possible by combining ACP’s operational and growth resources with an excellent management team and dedicated employee base,” said Steve Dyke, a managing partner at Align Capital.
