Security Fire Systems Joins Blackford Capital's Fire Safety Platform
Deal News | Dec 20, 2024 | Blackford Capital
Blackford Capital, a private equity firm specializing in the lower middle market, has announced its acquisition of Security Fire Systems (SFS), a prominent provider of fire sprinkler design, installation, and maintenance services based in Dallas-Fort Worth. This acquisition marks Blackford Capital's entry into the fire safety and security industry and establishes its Fire Safety Consolidation Platform. SFS, founded in 1993 and led by CEO Mike Alexander and President Chris Alexander, serves various sectors including hospitality, healthcare, and government across several states. Blackford Capital intends to consolidate the fragmented fire safety industry through further acquisitions, leveraging synergies in service and maintenance aspects. Post-acquisition, SFS's management and employees will remain, and the firm will focus on expanding its service range and market reach. Legal advisory for Blackford was provided by McGuireWoods and Varnum LLP, while Oak North Bank facilitated the financial aspects. Plante Moran advised on financial and tax diligence.
Sectors
- Private Equity
- Fire Safety and Security
- Manufacturing and Industrial
Geography
- United States – Blackford Capital is headquartered in Grand Rapids, Michigan, and Security Fire Systems is located in Dallas-Fort Worth, Texas.
Industry
- Private Equity – Involves Blackford Capital, a private equity firm specializing in acquisitions.
- Fire Safety and Security – Involves Security Fire Systems, a provider of fire safety services, marking Blackford's entry into this sector.
- Manufacturing and Industrial – Blackford Capital focuses on manufacturing and industrial sectors for its investments.
Financials
- Not Disclosed – The financial terms of the acquisition of Security Fire Systems by Blackford Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackford Capital | Acquirer | Company | A private equity firm focused on lower middle-market companies. |
| Security Fire Systems | Target | Company | Provider of fire safety services, including sprinkler system design and installation. |
| Mike Alexander | CEO | Person | CEO and Founder of Security Fire Systems. |
| Chris Alexander | President | Person | President of Security Fire Systems. |
| Martin Stein | Founder, Managing Director | Person | Founder and Managing Director of Blackford Capital. |
| McGuireWoods | Legal Advisor | Company | Provided legal counsel for Blackford Capital. |
| Varnum LLP | Legal Advisor | Company | Provided legal counsel for Blackford Capital. |
| Oak North Bank PLC | Financier | Company | Provided financing for the acquisition. |
| Plante Moran | Financial Advisor | Company | Advised on financial and tax diligence for the acquisition. |