-Audax Private Equity (“Audax”) has completed the sale of AI Fire, LLC (“AI Fire” or the “Company”) to Snow Phipps Group (“Snow Phipps”).
Headquartered in Long Beach, CA, AI Fire is a leading fire and life safety provider to both national account customers via a vendor partner network and regional customers through its self-perform district operations. The Company offers a broad range of services including routine inspections, repair services, customized work orders, and system installations. AI Fire serves over 10,000 unique customers across national chains and healthcare, financial, industrial, and other commercial end-markets. The Company operates a network of 20 district offices and two national call centers. Since Audax’ investment in AI Fire in April 2017, the Company has completed 11 acquisitions, adding broader service capabilities, and expanding the self-perform footprint in the Northeast, Texas, and Rocky Mountains.
Mike Lloyd, CEO of AI Fire, said, “Audax has been a valuable partner in helping us grow AI Fire into a leading national provider of fire and life safety services. With Audax’ support, we were able to grow the Company organically and via acquisitions while investing in key talent and systems to support and sustain growth. We look forward to partnering with the Snow Phipps team to continue executing on our growth strategy.”
Jay Mitchell, Managing Director at Audax, said, “We are proud to have partnered with Mike Lloyd and the AI Fire team in creating a leading platform in the national fire and life safety market. The Company expanded its service offering and geographic footprint through organic initiatives and strategic acquisitions while investing in talent and corporate infrastructure. We wish continued success for Mike and the entire team as they embark on their next chapter of growth.”
Terms of the transaction were not disclosed. Kirkland & Ellis LLP and Goulston & Storrs PC served as legal advisors and Lincoln International LLC served as financial advisor to AI Fire.