fire safety services

Lincoln Road and Peninsula Add to Fire Protection Platform

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Republic Fire Protection, a platform company of Lincoln Road Global Management and Peninsula Capital Partners, has acquired Aegis Fire & Integrated Services.

Aegis Fire & Integrated Services is an installer and servicer of fire extinguishers, as well as suppression, sprinkler and alarm systems. The company services thousands of customers located throughout northern Florida and southern Georgia.

Aegis, led by President Allen Andone, was founded in 2004 and is headquartered near Jacksonville in Orange Park, FL.

Republic Fire Protection was formed to invest in fire safety companies throughout the United States and is currently focused on acquiring companies located in the Southeast.

With the closing of this transaction, Mr. Andone will continue as the president of Aegis and will oversee the company’s daily operations. “We see enormous opportunity in partnering with Aegis, as we continue to grow the Republic Fire platform,” said Jeff Magny, the founder and managing partner of Lincoln Road. “By partnering with regional industry leaders like Allen Andone, we are able to provide additional resources and our operational expertise to help Aegis achieve its full potential.”

In August 2018, Republic Fire acquired its first company with the buy of Pro-Tec Fire & Safety, a Loganville, GA (near Atlanta) based provider of fire extinguisher and safety services with a focus on commercial, municipal and multi-unit developments. The company’s services include the installation of fire alarms, sprinkler systems, fire extinguishers, kitchen hoods, and emergency lighting systems. Pro-Tec also conducts monitoring, testing and inspection of fire and safety systems which are code-driven and provide the company with recurring revenues.

Lincoln Road invests in lower middle-market industrial, consumer and retail, and business services companies that have at least $3 million of EBITDA. The firm was founded in 2015 by Jeff Magny, a former senior vice president at Sun Capital Partners, and is headquartered in Miami.

Detroit-based Peninsula Capital Partners provides junior capital, including subordinated debt, preferred stock or common stock, either as a minority or control investor, to companies operating in a wide range of sectors that have at least $3 million of EBITDA.

© 2019 Private Equity Professional | October 31, 2019

Lincoln Road Completes First Transaction

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Lincoln Road Global Management has completed its first investment in Pro-Tec Fire & Safety, a provider of fire extinguisher and safety services.

Pro-Tec Fire & Safety specializes in fire extinguisher inspection and recharge; fire suppression systems installation and inspection; emergency lighting installation and repair; fire sprinkler systems installation and service; and fire safety equipment sales. The company’s customers include commercial businesses, municipalities, and multi-unit real estate developments.

Pro-Tec’s monitoring, testing and inspection services are code driven which results in the generation of recurring revenue for the company. Pro-Tec is headquartered in Atlanta (www.protecfiresafety.com).

The buy of Pro-Tec is Lincoln Road’s first transaction since its investment team was assembled under the leadership of Managing Partner Jeff Magny. “We’re very excited to complete our inaugural investment, and to do so in an industry and company with such significant growth opportunities,” said Mr. Magny. “The fire safety space is highly fragmented, and we see a great opportunity to grow through a ‘buy and build’ strategy while utilizing our operational expertise to help the company reach its full potential as the fire safety leader throughout the Southeast.”

Lincoln Road invests in businesses that have from $20 million to $150 million in revenue and are active in the industrial, consumer and retail, or business services sectors. The firm was founded in 2015 by Jeff Magny and is headquartered in Miami (www.lincolnroadmgmt.com). Prior to founding Lincoln Road, Mr. Magny was a senior vice president at Sun Capital Partners.

Lincoln Road is currently investing on a deal-by-deal basis with the support of a group of investors that includes institutions and family offices. Lincoln Road plans to complete additional platform investments prior to raising its first fund.

Holland & Knight (www.hklaw.com) provided legal services to Lincoln Road on this transaction.

© 2018 Private Equity Professional | August 8, 2018

Blue Point Acquires FLSA

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Blue Point Capital Partners has acquired Fire & Life Safety America, a provider of fire and life safety system inspection, maintenance, repair and installation services. This buy is the seventh platform investment for Blue Point’s third fund which closed in November 2014 at the hard cap of $425 million.

According to Blue Point, Fire & Life Safety America (FLSA) is one of the nation’s largest fire and life safety services providers and a large percentage of the company’s revenue comes from recurring inspection and monitoring accounts. FLSA services fire alarms, sprinkler systems, fire pumps, pipe/hose systems, fire extinguishers, kitchen hood suppression and emergency and exit signs.  The company has approximately 800 employees and services customers from fifteen branch locations in the mid-Atlantic and southeastern United States, as well as through a national partner network. FLSA, led by CEO Tom York, was founded in 1997 as East Coast Fire Protection and is headquartered in Richmond, VA (www.flsamerica.com).

Blue Point Capital Partners acquired FLSA from PNC Riverarch which acquired the company from KRG Capital in June 2015. KRG Capital was the company’s first institutional investor when it invested in East Coast Fire Protection in October 2005. FLSA has completed numerous add-on acquisitions under its private equity owners including the buys of Southeast Fire Protection, Affordable Fire Protection, Fire Watch Services, Elite Fire Protection, Texas Southwest Fire Protection, and Universal Sprinkler.

“Blue Point has a proven track record of investing in business-to-business service models and developing growing businesses into national leaders; FLSA is an ideal platform for the firm,” said Juli Marley, a Partner with Blue Point.  “We are thrilled to partner with this talented management team and support their efforts to expand the service segment, green field new locations and identify strategic acquisitions.”

Blue Point Capital Partners is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses that have from $20 million to $200 million in revenue. The firm has over $800 million in committed capital and has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).

PNC Riverarch, the seller of FLSA, invests from $10 million to $50 million in privately-held companies headquartered throughout North America. Sectors of interest include outsourced services, specialized manufacturing, and value-added distribution. PNC Riverarch is a division of PNC Capital Finance which in turn is a subsidiary of The PNC Financial Services Group (NYSE: PNC). PNC Riverarch is based in Pittsburgh (www.pncriverarch.com).

© 2017 Private Equity Professional | February 24, 2017