Pye-Barker Fire & Safety Announces Minority Investments from ADIA and GIC to Fuel New Growth
ATLANTA, Jan. 10, 2025 /PRNewswire/ -- Today, Pye-Barker Fire & Safety ("Pye-Barker" or the "Company"), the largest fully integrated and full-service fire protection, life safety, and security alarm services provider in the United States, announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") and GIC, a global institutional investor, have completed the acquisition of minority stakes in Pye-Barker, joining existing equity holders Altas Partners ("Altas") and Leonard Green & Partners, L.P. ("LGP"), as investors in the Company. As part of the transaction, LGP invested significant new capital into the Company while Altas retained the majority of its ownership interest. Financial terms were not disclosed.
Headquartered in Atlanta, Georgia, Pye-Barker is the leading privately-owned commercial fire protection services provider in the U.S. The Company's service offerings include inspection, testing, maintenance, repair, and installation of fire detection systems, fire alarms, fire extinguishers, fire suppression and sprinkler systems, and security alarm monitoring services for businesses nationwide.
"We are excited about entering our next phase of growth with our longstanding and exceptional partners in Altas and LGP, as well as with our new investors ADIA and GIC who share our common vision," said Bart Proctor, CEO of Pye-Barker. "Pye-Barker is fortunate to have experienced rapid growth due to the hard work, innovation, and entrepreneurial spirit of our people. On behalf of Pye-Barker's leadership team, we appreciate the strong existing partnership with Altas and LGP and look forward to the support of ADIA and GIC as we continue our focus on growth by delivering exceptional care for our team members and customers."
"We extend our sincere gratitude to the entire Pye-Barker team for their outstanding work in building a world-class organization," said John Danhakl, Managing Partner at LGP. Evan Hershberg, Partner at LGP, added, "We look forward to the next stage of Pye-Barker's growth and continued success. Since we partnered with the Pye-Barker team over five years ago, the Company has been a consistently strong performer and has delivered exceptional growth and value to all stakeholders. We are excited about the many growth opportunities that lie ahead and look forward to continuing our support of the Company."
"We are pleased to welcome ADIA and GIC as new financial partners in Pye-Barker. This transaction underscores the strength of the Company, its talented management team, and its significant growth opportunities," said Scott Werry, Managing Partner of Altas. "We are excited to continue our partnership with Pye-Barker and have strong confidence in the Company's future success under the leadership of Bart and his accomplished team."
The transaction closed in January 2025. Harris Williams served as lead financial advisor to Pye-Barker. Bank of America, Deutsche Bank, Goldman Sachs & Co., Jefferies, and Piper Sandler also provided financial advice to parties in the transaction. Latham & Watkins LLP acted as legal advisor to LGP and Kirkland & Ellis LLP acted as legal advisor to Pye-Barker and Altas. Dechert LLP acted as legal advisor to GIC and Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to ADIA.
ABOUT PYE-BARKER FIRE & SAFETY
Pye-Barker Fire & Safety is the largest fully integrated fire protection, life safety and security alarm services provider to commercial end markets in the United States. Headquartered in Atlanta, Georgia, and servicing facilities in industrial, hospitality, retail, healthcare and other commercial markets, Pye-Barker's comprehensive offerings focus on inspection, testing, maintenance, service and repair of life safety and fire protection products and systems to help save lives, protect businesses, and ensure state and local building code compliance. With over 250 locations and nearly 8,000 team members across 45 states, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100. For more information about Pye-Barker, visit www.PyeBarkerFS.com.
ABOUT ALTAS
Altas Partners is a North American private equity firm focused on selectively acquiring significant interests in high-quality businesses with meaningful growth potential. Altas focuses on services sub-sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The firm's patient investment philosophy and engaged approach to ownership distinguish Altas as a buyer of choice for many management teams and founders. The firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages more than $10 billion in AUM on behalf of leading institutional and family office investors from around the world. For more, visit www.altas.com.
ABOUT LGP
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 150 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as distribution and industrials. For more information, please visit www.leonardgreen.com.
ABOUT ADIA
Established in 1976, the Abu Dhabi Investment Authority is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information, please visit www.adia.ae.
ABOUT GIC
GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital, and infrastructure. Its long-term approach, multi-asset capabilities, and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 2,300 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.
Contact:
Pye-Barker Fire & Safety
Alycia Volpe
media@pyebarkerfs.com
ALTAS
Julie Rudnick
FGS Global
julie.rudnick@fgsglobal.com
LGP
communications@leonardgreen.com
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SOURCE Pye-Barker Fire & Safety