Audax-backed AI Fire buys P&J

AI Fire, which is backed by Audax Private Equity, has acquired Connecticut-based P&J Sprinkler Company, a full-service fire sprinkler company.

AI Fire, which is backed by Audax Private Equity, has acquired Connecticut-based P&J Sprinkler Company, a full-service fire sprinkler company. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, AI Fire, acquires P&J Sprinkler Company

The Company
P&J Sprinkler Company (“P&J”) is a leading provider of fire protection services in New England. Founded in 1968 in Willimantic, CT, P&J is a full-service fire sprinkler company, offering service, inspection, testing, and retrofit installation for commercial, industrial, and residential markets.

The Deal
AI Fire, a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of P&J Sprinkler, representing the company’s ninth 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. P&J expands AI Fire’s self-perform footprint in the Northeast and is the company’s first self-perform presence in Connecticut.