Transaction overview
Endeavor Fire Protection, a subsidiary of private equity firm Building Industry Partners (BIP), acquired Allegiant Fire Protection on September 2, 2022. The acquisition expands Endeavor's service offerings and geographic reach in fire protection services across the Midwest United States. Founded in 2018, Allegiant specializes in fire alarm system design and installation as well as monitoring, testing, and inspection of fire suppression systems for a diverse client base including hospitals, senior living facilities, data centers, municipalities, manufacturing plants, and commercial buildings.
Deal structure and financing
The financial terms of the acquisition were not disclosed. Endeavor Fire Protection is backed by Fifth Third Bank and Siguler Guff & Company, which provided debt financing to support the transaction. Holland & Knight LLP served as legal counsel for BIP on both corporate and financing matters. Much Shelist acted as M&A legal counsel for Allegiant. No specific details were provided regarding equity split or seller retained stake.
Strategic context
Endeavor's acquisition of Allegiant is part of a broader strategy to expand service capabilities and geographic presence in the fire protection sector. With this deal, Endeavor aims to bolster its monitoring, testing, and inspection services while entering new markets in Wisconsin and Indiana. BIP has been actively investing in companies like Endeavor Fire Protection to capitalize on growth opportunities within the U.S. building industry's middle market.
Allegiant was founded by Mike Carli with a focus on providing comprehensive fire protection solutions tailored to diverse customer needs. The company's decision to sell reflects its desire for further expansion under experienced leadership while maintaining core values and business philosophy aligned with BIP's investment approach.
Regulatory path
As of the announcement date, there were no details provided about regulatory reviews or filings conducted by U.S. federal authorities such as the Federal Trade Commission (FTC) or Department of Justice (DOJ). Given the nature of the transaction in a highly regulated industry and across multiple states, it is likely that local state regulators would also have been involved in reviewing aspects related to professional licensing and safety compliance. However, no specific information was disclosed regarding regulatory scrutiny or required remedies.