Altus Fire and Life Safety, an AE Industrial Partners Portfolio Company, Acquires Fire Systems, Inc.

Platform Continues Growth Trajectory into Southern New England with its 6^th Acquisition

BROOKLYN, N.Y., May 5, 2022 /PRNewswire/ -- Altus Fire and Life Safety ("Altus"), a full-service fire and life safety platform, announced today it has acquired Fire Systems, Inc. ("FSI" or the "Company"), a provider of installation, maintenance, testing, monitoring and certification for both alarm and sprinkler systems primarily in the Massachusetts and Rhode Island markets. FSI's founders Charles and Cheryl Barrett and Gary Lanowy will maintain a minority stake in the Company. Terms of the transaction were not disclosed.

Established in May 2021 and previously known as Cross-Fire & Security Co., Altus is a full-service fire and life safety services platform owned by AE Industrial Partners, LP ("AEI"), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. The platform currently consists of six brands including Cross-Fire & Security Co., Alarm & Suppression, NISCO, Adcock, Croker and FSI.

For more than 30 years, FSI (www.firesystemsinc.net) has been a family-owned and operated company serving southern New England. The Company is an authorized engineered systems distributor for Honeywell's Notifier products, among others, and stocks a wide variety of products ranging from basic to technologically advanced systems featuring fully networked addressable intelligent systems.

"FSI is a great add-on to our Altus footprint and expands our presence in the New England markets where we are strategically focused. We are pleased to bring on additional capacity in the Massachusetts and Rhode Island markets as we look to strengthen our product and service offering and continue to grow our customer base," said Charlie Santos-Buch, Partner at AEI.

John Adams, Altus CEO, added, "We welcome the FSI team and look forward to continuing the high standard of service that has made the Company's reputation in its communities. The acquisition of FSI is highly complementary to our growing platform, strengthening our existing capabilities in fire alarms while expanding our service offering in the sprinkler space and further establishing Altus as a 'one-stop shop' for fire and life safety."

"We're excited to be part of the Altus team which will help FSI expand its network of products and services provided by the broader Altus platform, as well as allow us to utilize the breadth of the financial and operational resources of the platform and its experienced management team," said Mr. and Ms. Barrett at FSI.

Altus has partnered with key industry executives, including Board Chair Kelly Romano, an AEI Operating Partner with deep sector experience in fire & security and commercial building industries including over 30 years at United Technologies Corporation (UTC), and Board Member Ed Cettina, a senior construction management executive previously working with AECOM and Tishman Construction.

About Altus

Serving customers for more than 100 years, Altus is a full-service fire and life safety services platform. Altus offers a complete suite of solutions, from the design, engineering, installation, and servicing of state-of-the-art fire and life safety systems to training, consulting, crisis management and business continuity services. The platform currently consists of six brands including Cross-Fire & Security Co., Alarm & Suppression, NISCO, Adcock, Croker and FSI. For more information on Altus, please visit www.altusfire.com.

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

CONTACT:

Lambert
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

SOURCE Altus Fire and Life Safety; AE Industrial Partners