Altus Bolsters Portfolio with FCS Acquisition
Deal News | Dec 16, 2024 | Apax (Ignore, Duplicate)
Altus Fire & Life Safety, a portfolio company of Apax Partners LLP, announced its acquisition of Facility Compliance Services LLC and Facilities Compliance Fire Protection LLC. This acquisition is part of Altus's strategy to expand its footprint and service offerings in the Northeastern and Mid-Atlantic regions of the United States. The acquisition marks Altus's tenth acquisition since 2021, enhancing its capabilities in providing fire protection, safety, and compliance solutions. John Adams, CEO of Altus, emphasized the significance of the acquisition for reaching new customers and expanding geographically. Robert Boulanger III, CEO of FCS, expressed excitement about partnering with Altus, citing shared values in excellence and innovation. Nedu Ottih, Partner at Apax, stated that the support from Apax Funds will continue to fuel Altus's inorganic growth strategy.
Sectors
- Fire Protection and Safety Services
- Private Equity
Geography
- United States – The geographical focus of the article, with particular emphasis on Altus's expansion in the Northeastern and Mid-Atlantic regions.
- Connecticut – Specific state where FCS operates and where Altus is expanding its presence through this acquisition.
Industry
- Fire Protection and Safety Services – This industry involves providing fire safety compliance services and solutions, which is relevant because both Altus and FCS operate within this sector.
- Private Equity – Refers to investment firms like Apax Partners that specialize in acquiring and managing portfolio companies, relevant due to Apax's involvement with Altus.
Financials
- Not Disclosed – The financial terms of the acquisition were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Altus Fire & Life Safety | Acquirer | Company | A leading provider of fire and life safety services, a portfolio company of Apax Partners. |
| Facility Compliance Services LLC & Facilities Compliance Fire Protection LLC | Target | Company | A provider of high-quality inspection, testing, maintenance, and compliance services in Connecticut. |
| Apax Partners LLP | Private Equity Firm | Company | A private equity firm advising funds that manage Altus Fire & Life Safety. |
| John Adams | CEO of Altus Fire & Life Safety | Person | Leader driving the growth and strategic acquisitions of Altus. |
| Robert Boulanger III | Founder and CEO of FCS | Person | Led FCS and facilitated its acquisition by Altus. |
| Nedu Ottih | Partner at Apax | Person | Oversees the investment and growth strategies for Altus as part of Apax’s portfolio management. |