Align Capital Partners has sold Protegis Fire & Safety to Summit Fire & Security, a subsidiary of SFP Holding, Inc., which is owned by BlackRock Long Term Private Capital. Headquartered in Cleveland, Ohio, Protegis provides installation, inspection, service and repair for fire alarms, fire sprinkler systems, security systems, fire pumps, extinguishers and fire suppression systems.
Protegis has become a dominant and trusted leader in the fire and life safety space with branches in Ohio, Kentucky, Central Florida and the Baltimore-DC region. The Company is further supported by a National Accounts team serving regional and national customers. ACP’s initial investment in the Protegis platform came via the acquisition of ISA Fire & Security in 2017. Together with management, ACP helped the company grow organically and through seven add-on acquisitions expanding the Company’s footprint from 6 to 13 branch locations.
“At Protegis, our shared ambition has been to build the best company in fire protection. We’ve made a great deal of progress on that journey. Becoming part of the SFS team is a logical and exciting next step – moving us forward a huge leap and bringing substantial benefits to our customers and employees,” stated Peter van Niekerk, Protegis CEO.
“From the beginning, we have been extremely impressed with the passion behind the work they do. This combination and alignment of industry leaders provides unbeatable expertise that complements each other as our companies continue to grow. It’s no wonder Protegis has stood out as an industry leader, and we’re really excited to welcome them to the SFS team,” stated Nic Brown, President of Summit Fire & Security. When combined with Protegis, SFS now has 59 locations in 20 states.
Steve Dyke, Managing Partner at ACP said, “We are proud of the transformation Protegis experienced these past five years – a journey which was made possible by combining ACP’s operational and growth resources with an excellent management team and dedicated employee base. We wish everyone at Protegis great success in the future.”
This transaction marks ACP’s fifth exit over the past 12 months. Senior Operating Partner Dave Tiley, Partner Jack Parks and Associate Aaron Lewis worked alongside Mr. Dyke on the Protegis investment. Piper Sandler & Co. acted as financial advisor to Protegis and Calfee served as legal counsel to the Company.