Lincoln Road Global Management (Lincoln Road), a private equity firm focused on lower middle-market companies, and Peninsula Capital Partners (Peninsula Capital), a private equity firm focused on providing customised subordinated debt and equity solutions, have sold Republic Fire Protection (Republic Fire), a full-service provider of fire safety and protection services.
Financial terms of the private transaction have not been disclosed.
Republic Fire provides a wide range of fire extinguishers, emergency lighting, alarm, industrial fire suppression, sprinkler and exit lighting products, sales, inspection and related services throughout the Southeastern US Under Peninsula Capital’s and Lincoln Road’s ownership, the Company strengthened its management team with the addition of new talent and completion of seven acquisitions that expanded the Company’s presence throughout Georgia, Florida and into neighbouring states.
“The successful investment in Republic Fire reflects our ability to partner closely with management and drive growth in the vibrant and growing Southeastern US, where the need for best-in-class fire protection and services continues to increase,” says Jeff Magny, Founder and Managing Partner of Lincoln Road. “We’re excited about the growth prospects ahead for Republic Fire and its dedicated professionals under new ownership.”
Lincoln Road partnered with Peninsula Capital to form Republic Fire as a highly scalable platform company to acquire complementary fire protection products and services businesses in the Southeastern US Following its formation, Republic acquired seven regional businesses, including Gold Coast Fire Protection, Florida Fire Systems, Aegis Fire & Integrated Services, Pro-Tec Fire Protection and Fire Equipment Company of Florida, among others.
During Lincoln Road’s and Peninsula Capital’s three-year ownership, Republic Fire generated revenue CAGR of over 55 per cent, while its EBITDA nearly tripled.
Under the guidance of Lincoln Road and Peninsula Capital, the Company established a compelling business model for owners of fire protection businesses. By joining Republic Fire, owners were able to achieve liquidity while continuing to operate autonomously with their own management teams and brand identities in local markets.
“We would like to thank Peninsula Capital and Lincoln Road for being outstanding partners and providing us with the resources and operational guidance to support Republic Fire’s exceptional growth,” says Michael McLeod, CEO of Republic Fire Protection.
The transaction comes at a time when North America’s fire protection market is growing amid a rising increase in fires, with the market expected to total USD34.61 billion with a CAGR of 5.7 per cent through 2030 in the US, according to data from Next Move Strategy Consulting.
