Behrman Capital buys BHC from Freeman Spogli

Behrman Capital said Monday that it has acquired BECO Holding Company from Freeman Spogli. No financial terms were disclosed. Harris Williams served as financial advisor to BHC on the transaction. Headquartered in Charlotte, NC, BHC is a provider of first-response fire protection equipment and related parts.

PRESS RELEASE

NEW YORK, Sept. 2, 2014 /PRNewswire/ — Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced it has acquired BECO Holding Company, Inc. (“BHC” or “the Company”) from private equity investment firm Freeman Spogli & Co. Terms of the transaction were not disclosed. BHC owns Brooks Equipment Company, LLC, Logistics Supply Company, LLC and Heiser BHC, LLC. Behrman had previously owned a majority stake in the Company from 1998 to 2010, when it sold the Company to Freeman Spogli.

Founded in 1941 and headquartered in Charlotte, North Carolina, BHC is the nation’s leading business-to-business wholesale distributor of first-response fire protection equipment and related parts. With 18 locations across the United States, the Company offer customers access to an inventory of over 12,000 fire equipment and maintenance, repair and operations (MRO) products from over 400 industry-leading manufacturers. BHC is highly regarded in the industry for offering quality products at great prices with the very best in customer service.

“We are truly delighted to be partnering with Behrman Capital again,” said Eric Smith, the Company’s CEO. “We have an excellent relationship with Grant Behrman and his team, who helped to lead one of the most successful periods in the Company’s history. Behrman’s expertise and deep knowledge of our business will help us continue to execute on our growth strategy, which means serving our current customers at the same high level as always while adding new products to our distribution network and pursuing new opportunities in attractive markets. On behalf of the BHC team, I would like to thank Freeman Spogli for its tremendous support over the last four years.”

Grant G. Behrman, Managing Partner of Behrman Capital, said, “It is a pleasure to be working with Eric and the BHC team once again. We know the Company very well, having helped to build it through organic growth and several successful acquisitions during our prior investment period. BHC is a great business that provides critical products for essential services. With its strong growth profile, outstanding leadership team and capital efficient business model, we are very excited about the potential for additional value creation in the years ahead.”

Harris Williams acted as financial advisor and Bingham acted as legal counsel for BHC. Goodwin Procter acted as legal counsel for Behrman Capital.

About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in four industries: health care, specialty manufacturing, business to business outsourcing and defense. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.

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