Endeavor Fire Protection seeks to create a national, full-service, best-in-class fire and life safety organization.
This is the fourth platform launched by BIP in the last 12 months.
Endeavor Fire Protection, through its acquisition of Valley Fire Protection Systems, provides installation and repair services for sprinkler and plumbing systems in Illinois, Indiana and Wisconsin.
BOSTON, August 24, 2022–(BUSINESS WIRE)–Building Industry Partners (“BIP”), the leading private equity investment firm focused on the building industry, has formed a new Fire and Life Safety (“FLS”) platform alongside its acquisition of Valley Fire Protection Systems (“Valley”).
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Founded in 1974, Valley Fire Protection Systems is the partner of choice in the market, fostering deep customer relationships in its role as contractor and prime contractor. Valley installs, maintains and repairs fire suppression and plumbing systems throughout the Midwestern United States. The company offers a comprehensive suite of systems and services to a diverse customer base including commercial, industrial and government markets.
Robert Lane, Vice President of BIP, said, “We are extremely pleased to announce the formation of Endeavor Fire Protection and the closing of the acquisition of Valley Fire Protection Systems. BIP has strong relationships in the fire protection industry and has long wanted to build a platform in this vertical. Valley is an elite operator with a field-focused philosophy. The company brings extraordinary capabilities and a long-standing reputation as a leader in the fire protection industry. Given strong leadership at all levels of the company, we believe Valley will continue to innovate and grow. We are confident it will be a strong partnership.”
Mr. Lane also noted, “Endeavor Fire Protection is BIP’s fourth platform as part of our renewed people-centric focus. BIP prioritizes advancements in human capital management in the labor-intensive construction industry to build better businesses, generate better returns on investment, and help employees improve. their career and their life. We have immense respect for the field and we want to offer these people, who perform an essential societal function under difficult conditions, the best opportunity to achieve their professional and life goals. Over the past forty years, Valley has continually demonstrated that the company embodies respect for the land and values a people-centered philosophy.”
The transaction was in response to Valley’s management team’s desire to recapitalize and grow the business. The entire Valley management team remains with the company and is committed to growing Valley. Thomas Hartel, President of Valley Fire Protection, said, “Choosing to partner with Building Industry Partners to form Endeavor Fire Protection was an easy decision for us, especially given the strong cultural fit, strong emphasis safety and the focus on people. My family has been in the fire protection business for over 120 years. We greatly value BIP’s shared commitment to employee growth and education, as well as the complementary focus on teamwork and customer service. Our team is confident that this partnership will strengthen our commitment and investment in our employees and enable us to better serve our customers and our communities. We are confident in a bright future together.”
Dave Sobota, Executive Vice President of Valley Fire Protection Systems, said, “We couldn’t be more excited. Building Industry Partners’ focus on developing people resonated strongly with our entire team. We are on a mission to not only be the best plumbing and protection contractor, but also to be the best place for our employees to work. BIP’s talent resources, access to growth capital and deep industry relationships will allow us to significantly strengthen the wonderful foundations that Valley has built over the past 40 years. This partnership will allow us to offer even more opportunities to our employees and better serve our customers.”
Justin Gilson, Director at BIP, added, “We are excited to launch Endeavor Fire Protection with the goal of building a leading national fire and life safety organization, both organically and through acquisition bias. Valley Fire is a preferred provider of fire protection services with a proven track record of operational excellence and a passion for high quality service. We were extremely impressed with the entire Valley team and the strong relationships they have throughout the Midwest. We look forward to supporting Tom and his team in the next phase of growth.”
Much Shelist acted as M&A counsel and Holland & Knight LLP acted as corporate and financing counsel to BIP. Fifth Third Bank and Siguler Guff & Company provided debt financing to support the formation of the platform.
About Building Industry Partners
Building Industry Partners (“BIP”) is the leading private equity investment firm focused on the construction industry in the United States. Founded by Matt Ogden in 2008, BIP is headquartered in Boston, with investment professionals, operating partners and advisors across the United States.
Over the past 14 years, BIP is proud to have co-founded or been the first equity sponsor of a number of the most dynamic and fastest growing companies in the middle market in the industry. in the United States, including US LBM Holdings, Kodiak Building Partners, Homewood Holdings, and US Fence Solutions/Binford Supply.
In 2020, BIP redefined its purpose: to create exceptional and sustainable businesses, generate world-class returns on investment and help elevate the construction industry and its workforce through principles of investment and people-oriented business. BIP continues to seek opportunities to mentor the building industry’s greatest talents in building exceptional businesses, realizing their entrepreneurial visions and increasing shared prosperity among shareholders, management and the wider community. of the work force.
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