Altus Fire & Life Safety Secures Strategic Investment From Apax Funds
Altus Fire & Life Safety, a provider of regulation-mandated fire and life safety services in the northeastern United States, announced it has received a strategic investment from funds advised by Apax Partners LLP. Financial terms of the transaction with AE Industrial Partners were not disclosed.
Investment set to accelerate national growth
Founded in 1993 and headquartered in New York, Altus offers services including testing and inspection, service and repair, drills and training, monitoring, upgrade and installation across fire alarm, sprinkler and security systems. The company has recently grown rapidly through both organic initiatives and strategic M&A that expanded its service lines and geographic footprint.
John Adams, chief executive officer of Altus, described the deal as “a unique and exciting opportunity for the future of our organization and our employees.” He added that Apax brings extensive experience and resources “which are designed to further enable our rapid growth and scale into one of the nation’s leading providers of fire and life safety services.”
Nedu Ottih, partner at Apax, said the firm is excited to partner with Adams and the Altus team to significantly scale the business. “We see an opportunity to invest more in new products and services and sales and marketing efforts to support the company’s continued growth and geographic expansion,” Ottih said.
Ashish Karandikar, also a partner at Apax, said the firm has been tracking the fire and life safety space for several years and is impressed by Altus’ growth journey to date. “We are thrilled to collaborate with John and the entire Altus team as we support the company in this next growth phase, solidifying its leading position in the fire and life safety services industry,” he said.
Altus noted that it benefits from a strong reputation in the market and established strategic partner relationships. The company operates in what it describes as a recession-resilient and growing market and has consistently delivered robust top-line performance. Given its large addressable market, Altus believes it is well positioned to continue its growth through both organic development and strategic acquisitions.