Audax-backed AI Fire buys Hoodco

AI Fire, a portfolio company of Audax Private Equity, has acquired Tewksbury, Massachusetts-based Hoodco, a provider of fire protection systems.

PRESS RELEASE

Audax Private Equity portfolio company, AI Fire, acquires Hoodco Systems Inc.

THE COMPANY
Hoodco Systems Inc (“Hoodco”) is a leading provider of fire protection systems across Massachusetts. Based in Tewksbury, MA, Hoodco specializes in installation, inspection, and maintenance & repair of kitchen exhaust and fire suppression systems for the restaurant industry.

THE DEAL
AI Fire, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Hoodco, representing the company’s seventh acquisition since Audax’ investment.

THE THESIS
In April 2017, Audax partnered with AI Fire, a leading provider of fire and life safety services to national, regional and local customers. Under the name “Academy”, AI Fire services national accounts through a vendor managed network; under the name “Impact Fire Services”, AI Fire services regional/local customers through self-perform operations. Audax intends to work with AI Fire management to build a leading platform through organic growth initiatives and add-on acquisitions within the fragmented U.S. fire and life safety services market. Hoodco expands AI Fire’s self-perform footprint in the Northeast.