AEI-backed Altus buys BK Systems

Altus Fire and Life Safety, which is backed by AE Industrial Partners, has acquired BK Systems, a provider of installation, monitoring and repair services for fire alarm, fire suppression and security systems.

Altus Fire and Life Safety, which is backed by AE Industrial Partners, has acquired BK Systems, a provider of installation, monitoring and repair services for fire alarm, fire suppression and security systems. BK Systems’ founder Karl Klardie and his daughter Beth Mortell will maintain a minority stake in the company. No financial terms were disclosed.

PRESS RELEASE

Brooklyn, NY, June 1, 2022 – Altus Fire and Life Safety (“Altus”), a full-service fire and life safety platform, announced today it has acquired BK Systems, Inc. (“BK Systems” or the “Company”), a provider of installation, monitoring and repair services for fire alarm, fire suppression and security systems across New Hampshire, Maine, Vermont and Massachusetts. BK Systems’ founder Karl Klardie and his daughter Beth Mortell will maintain a minority stake in the Company. Terms of the transaction were not disclosed.
Established in May 2021, Altus is a full-service fire and life safety services platform owned by AE Industrial Partners, LP (“AEI”), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. The platform currently consists of seven brands including Adcock, Alarm & Suppression, BK Systems, Croker, Cross-Fire & Security Co., FSI, and NISCO.

Based in Pembroke, NH, BK Systems has been a family-owned and operated business serving commercial and industrial customers across the Northern New England region since 1988. As a Honeywell Premier NOTIFIER Engineered System Distributor (“ESD”), the Company specializes in the installation, test & inspection, and service & maintenance of a range of fire alarm, suppression and security & access control systems.

“Karl and his daughter Beth have built BK Systems into a leading player in the fire and safety market, and we are pleased to welcome them and the entire team to Altus,” commented John Adams, Altus CEO. “Adding another Premier NOTIFIER ESD to the platform will be a competitive advantage as we look to secure large, significant projects in the Northeast.”

“We have found the perfect partners in Altus and AEI, who have a deep understanding of the industry and a long history of supporting family-owned businesses,” said Mr. Klardie and Ms. Mortell. “We look forward to working with the entire Altus family as we continue to deliver the highest quality services to our customers.”

Altus has partnered with key industry executives, including Board Chair Kelly Romano, an AEI Operating Partner with deep sector experience in fire & security and commercial building industries including over 30 years at United Technologies Corporation (UTC), and Board Member Ed Cettina, a senior construction management executive previously working with AECOM and Tishman Construction.

About Altus
Serving customers for more than 100 years, Altus is a full-service fire and life safety services platform. Altus offers a complete suite of solutions, from the design, engineering, installation, and servicing of state-of-the-art fire and life safety systems to training, consulting, crisis management and business continuity services. The platform currently consists of seven brands including Adcock, Alarm & Suppression, BK Systems, Croker, Cross-Fire & Security Co., FSI, and NISCO. For more information on Altus, please visit www.altusfire.com.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.