Audax-backed AI Fire buys North Shore Fire Equipment

AI Fire, a portfolio company of Audax Private Equity, has acquired New York-based North Shore Fire Equipment, a fire extinguisher company.

AI Fire, a portfolio company of Audax Private Equity, has acquired New York-based North Shore Fire Equipment, a fire extinguisher company. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, AI Fire, acquires North Shore Fire Equipment
The Company

North Shore Fire Equipment (“North Shore”) is a leading provider of fire and life safety services in New York City and Long Island. Founded in 1978 in Oyster Bay, NY, North Shore is a full-service fire extinguisher company, offering inspection, service, and replacement for the commercial and healthcare markets.

The Deal
AI Fire, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of North Shore Fire Equipment, representing the company’s tenth 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. North Shore expands AI Fire’s self-perform footprint in the Northeast and adds to its extinguisher service capabilities.