Boyne Capital has acquired Rapid Fire Protection, a provider of fire protection systems.
Rapid Fire designs, installs, inspects, tests and maintains fire suppression and alarm systems across the Midwestern and Western US. The company’s customers include developers, owners, and operators of large-scale facilities, including commercial and government buildings as well as multi-family and mixed-use residential properties.
Rapid Fire also has an industrial services division which develops custom-engineered fire suppression systems for critical asset and special hazard applications in the petrochemicals, mining, aviation, and agriculture sectors. The company was founded in 1993 and is led by CEO Matt Hammon and is headquartered in Rapid City, SD (www.rapidfireinc.com).
“I am excited to partner with the Boyne team in bringing Rapid Fire into a new phase of accelerated growth,” said Mr. Hammon. “We see immense opportunity to expand our capabilities and geographic reach, leveraging the relationships and track record built over 25+ years in the industry, and Boyne is the right partner to help us take this platform to the next level.”
“Rapid Fire Protection is a leader in the fire protection services industry,” said Derek McDowell, Boyne’s managing partner and CEO. “Its diverse range of service offerings, broad geographic footprint, long-term customer relationships, and experienced team provide a strong foundation for expansion. We are pleased to be partnering with Matt Hammon and the Rapid Fire team to support the company’s growth.”
Boyne makes investments in lower middle market companies that have revenues of less than $100 million and EBITDA of $2 million to $10 million. Sectors of interest include healthcare services, agriculture, consumer products, niche manufacturing, and business and financial services. Boyne was founded by Mr. McDowell in 2006 and is headquartered in Miami (www.boynecapital.com).
Rapid Fire was acquired through Boyne’s first fund, BCM Fund I LP, which closed in July 2017 with $126 million of capital.
© 2019 Private Equity Professional | July 17, 2019