TruArc Partners, LP ("TruArc"), a private equity firm focused on the middle-market, today announced the completion of its sale of AI Fire, LLC ("AI Fire" or the "Company"), a commercial fire and life safety services provider. As part of the transaction, TruArc will retain an ownership stake in the Company. Terms of the transaction were not disclosed.
Since acquiring AI Fire in March 2021, TruArc has invested significantly in the Company to support the management team as they successfully executed its growth strategy. During that time, the Company greatly expanded its geographic footprint, trade and service capabilities and made critical investments in its infrastructure and team while completing 20 add-on acquisitions.
"We are incredibly proud of what the AI Fire team has accomplished during our ownership," said Brandon Kiss, Partner at TruArc. "The Company has achieved significant growth and continues to build a highly strategic fire protection services business. We wish the team and company continued success."
AI Fire CEO Mike Lloyd added, "TruArc has been a phenomenal partner to AI Fire over the last several years and has been instrumental in our growth and realizing our vision. We have greatly enjoyed our time working together."
Piper Sandler & Co. acted as financial advisor to AI Fire. Weil, Gotshal & Manges LLP acted as legal counsel.
About AI Fire
AI Fire is a fire and life safety service provider to both national accounts via its network of vendor partners and local and regional customers through its self-perform technicians. The Company performs routine inspections, repair services, system installations and retrofits to the retail, healthcare, industrial, education, and other commercial sectors. The Company was founded in 2009 and has over 40 district offices across 18 states. For more information, visit www.aifire.com.
About TruArc Partners
TruArc Partners is a private equity firm focused on middle-market control investments. TruArc focuses on companies in attractive sub-sectors across specialty manufacturing and business services. The TruArc investment team collaborates with its operating partners and portfolio management teams to create value through a transformational growth strategy led by organic or acquisition-driven growth. To learn more about TruArc visit: www.truarcpartners.com.
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Colleen Quaid (cquaid@lamarkmedia.com)
