Hudson Avenue Partners Advises United Safety, A Dubin Clark Portfolio Company, On Its Acquisition Of Fireboy-Xintex
Oct 14, 2021, 13:55 ET
BIRMINGHAM, Mich., Oct. 14, 2021 /PRNewswire/ -- Hudson Avenue Partners is pleased to announce that United Safety & Survivability Corporation, a Dubin Clark portfolio investment, has raised financing to support its acquisition of Fireboy-Xintex from W.S. Darley & Company. Hudson Avenue Partners acted as exclusive financial advisor to Dubin Clark and United Safety in arranging financing to support the acquisition and future growth capital needs of the company.
Founded in 1985 and headquartered in Exton, PA, United Safety is a market leading designer and manufacturer of mission-critical safety, survivability and technology solutions for an array of transit, industrial, municipal, commercial and defense-related end markets. The company's core product portfolio includes driver seats, passenger seats, fire suppression products and related spare parts, as well as other specialized air purification and anti-bacterial solutions for niche transportation and extreme-duty end users.
Fireboy-Xintex, a leader in the innovation of safety products for the recreational and commercial marine, transportation and industrial markets, specializes in fire suppression and fire and gas detection solutions. Founded in 1973, Fireboy has offices in Grand Rapids, Michigan, and Poole, Dorset, in the United Kingdom. The completion of this transaction marks United Safety's largest acquisition in the fire suppression market and will serve to grow its footprint geographically into Europe and Asia and vertically into the marine market.
"This acquisition represented a critical milestone for the company's continued expansion into the fire suppression market and the financing transaction played an integral role in our ability to consummate the purchase of Fireboy," stated Joseph Mirabile, President & CEO of United Safety. "Given our expedited timeline, the degree of certainty and optimal execution Hudson Avenue delivered via its high-touch process proved to be invaluable as our team simultaneously worked to finalize the transaction with the seller."
Mike Hompesch, Partner at Dubin Clark, also noted, "Hudson Avenue's hands-on approach provided us with an ability to significantly broaden the universe of potential capital structure outcomes available to support the company's initiatives, yielding valuable dry powder for additional add-ons at a compelling cost of capital. By driving the process through documentation, the Hudson Avenue team also helped us navigate complexities inherent in cross-border transactions and delivered flexibility within the debt structure to fund continued growth worldwide."
"We were very excited to partner with Dubin Clark and United Safety to structure and deliver such a vital financing solution on behalf of the company. This transaction is another prime example of how our dynamic approach to a wide array of debt capital providers and fully outsourced placement process yields exceptional results for our clients," added Ryan Deegan, Partner at Hudson Avenue.
ABOUT UNITED SAFETY & SURVIVABILITY CORPORATION
United Safety and Survivability Corporation is committed to delivering the most innovative and reliable safety and survivability solutions that our customers can trust to protect life and property. As a global leader in the design and engineering of world-class safety, survivability, and technology solutions across a variety of industries and categories, our portfolio of products includes seating for commercial buses, fire trucks, ambulances, military vehicles, motor coaches, rail cars and locomotives. We also design and build specialty soldier survivability systems for military vehicles and our revolutionary fire suppression systems are used in school buses, public transit, heavy machinery and more. Our Active Air Purification and AEGIS® Microbial Surface Treatment lines also help to protect the public and operators by eliminating bacteria and viruses from air and surfaces. For more information, visit www.unitedsafetycorporation.com.
ABOUT DUBIN CLARK
Dubin Clark is a private equity firm with offices in Boston, MA and Jacksonville Beach, FL. The Dubin Clark team is led by experienced private equity professionals who bring decades of success in lower middle market investing. Dubin Clark targets lead or control investments in branded niche manufacturing and specialty services segments with at least $5 million in sales (less for add-ons). The firm's mission is to create value by helping portfolio companies grow through a coordinated approach that includes providing the capital necessary to support internal growth, completing complementary add-on acquisitions to build market position, and helping develop new strategies for the future, while protecting the independence, culture and values that made the company successful. For additional information, visit www.dubinclark.com.
ABOUT HUDSON AVENUE PARTNERS
Hudson Avenue Partners specializes in designing, structuring and raising debt and equity capital facilities in support of acquisition, refinancing and recapitalization transactions within the middle market. Founded by investment banking and leveraged finance professionals, the principals of Hudson Avenue have collectively raised and invested over $35 billion of debt and equity capital for clients around the globe. The firm focuses on placement engagements requiring committed capital of $25 million to over $250 million supporting transactions occurring across various industry sectors. Functioning as a fully outsourced capital markets desk for our clients, we save valuable time and resources while driving optimal outcomes with an exceptional degree of certainty. For more information, visit www.hudsonavepartners.com.
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SOURCE Hudson Avenue Partners
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