North Haven Capital acquires Interstate Fire Protection
North Haven Capital (NHC), a private investment firm based in Portland, Maine has acquired New England-based Interstate Fire Protection (IFP).
NHC teamed up with BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging markets.
Interstate Fire Protection is a leading provider of fire protection services and systems that are protecting hundreds of businesses across New England. The company also undertakes the design and sale of systems protecting manufacturing assets outside of the region on a national level. North Haven Capital identified IFP as a rapidly growing, regional leader that is ready for a transition in ownership and seeks a new management team with the ability to drive the expansion of its product offerings, target end markets, and national footprint.
Drew Bagin, Partner at North Haven Capital, says: “The Mooney Brothers have built a long-standing fire suppression partner that acts local, but covers a national customer base. We’re excited to work with the employees of IFP to expand their presence geographically and into new products and service offerings.”
Terence Mooney, of Interstate Fire Protection, says: “The team at North Haven Capital brings a new level of expertise and resources to accelerate the Interstate’s continued success. We are excited and pleased to work with North Haven in the shared goals of providing a rewarding environment for our valued team members and in increasing our market share both regionally and nationally.”
Copper Run Capital advised Interstate Fire Protection in its sale process. Michael Shaw, Partner at Copper Run, says: “It has been a pleasure working with John and Terry Mooney of Interstate Fire as well as Sam and Drew of North Haven to successfully transition ownership. We’re excited to see the growth opportunities that lie ahead for Interstate.”