Audax-backed AI Fire buys LRC

AI Fire, which is backed by Audax Private Equity, has acquired Manchester, New Hampshire-based LRC Fire Safety, a a full-service fire and life safety company.

AI Fire, which is backed by Audax Private Equity, has acquired Manchester, New Hampshire-based LRC Fire Safety, a a full-service fire and life safety company. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, AI Fire, acquires LRC Fire Safety

The Company
LRC Fire Safety (“LRC”) is a leading provider of fire protection services across New Hampshire, Massachusetts, and southern Maine. Based in Manchester, NH, LRC is a full-service fire and life safety company, offering service, inspection, installation, maintenance, and monitoring of fire sprinkler, fire alarm, kitchen suppression, fire extinguisher, and security systems across a variety of end markets.

The Deal
AI Fire, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of LRC Fire Safety, representing the company’s eighth 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 is working 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. LRC expands AI Fire’s self-perform footprint in the Northeast.