Audax-backed AI Fire buys Kennebec

AI Fire, which is backed by Audax Private Equity, has acquired Winslow, Maine-based Kennebec Fire Equipment Inc, a fire protection equipment supplier.

AI Fire, which is backed by Audax Private Equity, has acquired Winslow, Maine-based Kennebec Fire Equipment Inc, a fire protection equipment supplier. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, AI Fire, acquires Kennebec Fire Equipment Inc. customer base

The Deal
AI Fire, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Kennebec Fire Equipment Inc’s customer base, representing the company’s 10th 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. AI Fire offers national account services through a vendor managed network at Academy Fire and serves local and regional customers via its 20 Impact Fire district offices across the country. Together, Audax and AI Fire management are building a leading platform through organic growth initiatives and add-on acquisitions within the fragmented U.S. fire and life safety services market.