Wind Point Finds its Next Platform in Littlejohn’s Hiller

Wind Point Partners has agreed to acquire The Hiller Companies, a provider of fire and life safety services and a portfolio company of Littlejohn & Co.

The Hiller Companies provides recurring and project-based services to customers operating in commercial, industrial and marine environments where system failures carry elevated risk.

The company’s services include routine testing and inspection of fire protection systems; repair and maintenance; design and engineering of customized safety systems; and installation and retrofit projects designed to meet regulatory requirements and support operational reliability. Hiller’s customers include military and commercial marine vessels, utilities and energy storage facilities, data centers, research laboratories and large commercial properties.

Hiller was founded in 1919 and today is led by CEO Santiago Perez, with approximately 1,900 employees. The company has more than 45 branch locations and is headquartered in Mobile, Alabama.

“We are excited to partner with Wind Point,” said Mr. Perez. “From the outset, it was clear that Wind Point is highly aligned with our strategy and shares our long-term commitment to our employees and customers. Wind Point has meaningful experience with similar branch-based business models, and this partnership enhances our ability to invest in the business, expand our capabilities and accelerate Hiller’s next stage of growth.”

“We are thrilled to partner with Santiago and the entire Hiller team,” said Clayton Finley, a principal with Wind Point. “Hiller has built a well-positioned platform with a strong culture and differentiated position in mission-critical end markets. We look forward to supporting the team as we collectively accelerate growth while preserving what makes the business special.”

Wind Point evaluated its investment in Hiller alongside Bob Chauvin, a member of Wind Point’s Executive Advisor Partner program who previously served as president of Tyco SimplexGrinnell and has prior board experience with Hiller. Upon closing of the transaction, Mr. Chauvin will serve as chairman of the company’s board of directors.

“Hiller is a differentiated leader in the fire protection industry with a strong position in mission-critical end markets,” said Nathan Brown, a managing director with Wind Point. “The company’s service-led model and depth of talent provide a strong foundation for continued transformation as the platform scales. We are excited to support Santiago and the entire team as they invest in the people, processes, and capabilities to drive Hiller’s long-term vision.”

Littlejohn acquired Hiller in September 2022 and closed more than 20 add-on acquisitions over the past three years. “Hiller exemplifies Littlejohn’s strategy of backing fundamentally strong businesses in our core sectors and partnering with talented management teams to accelerate growth and value creation,” said Brian Michaud, a managing director at Littlejohn. “We are proud of what the Hiller team accomplished during our ownership and wish them continued success.”

Littlejohn & Co., based in Greenwich, Connecticut, invests from $75 million to $500 million of equity in middle-market companies that have EBITDA from $15 million to $125 million. The firm invests across a range of industries including manufacturers, distributors, and service providers. Littlejohn closed its sixth fund in December 2022 with $3.6 billion of capital commitments.

Wind Point invests from $50 million to $250 million in companies with EBITDA of at least $10 million. Sectors of interest include industrial products, consumer products and business services sectors. The firm utilizes a team of executive advisor partners, comprised of more than 40 private and public company executives who are aligned with Wind Point and contribute across all aspects of the firm’s investment process.

Wind Point held a hard cap close of its latest fund, Wind Point Partners X LP, with capital commitments of $2.3 billion, exceeding its $1.7 billion target in March 2024. Fund X is the firm’s largest fund and is more than 50% higher than its earlier fund, Wind Point Partners IX LP (2019 vintage), which held a final close in February 2021 with $1.5 billion in commitments. Chicago-based Wind Point was founded in 1984.

Robert W. Baird and Harris Williams were the financial advisors to Hiller. KPMG provided transaction advisory services to Wind Point.