Pacific Avenue Capital Partners Closes on KiddeFenwal Acquisition
02 Julio 2024 - 11:00AM
Business Wire
New owners aim to retain and enhance company’s
global leadership position in fire suppression systems and safety
controls.
Pacific Avenue Capital Partners—a middle market-focused private
equity firm specializing in carve-outs and complex situations—has
closed on its acquisition of KiddeFenwal, a world leader in
designing and manufacturing industrial and commercial fire
suppression systems and safety controls. The deal positions
KiddeFenwal for substantial growth while allowing it to further
expand its market share, both in the U.S. and globally.
Under Pacific Avenue’s ownership, KiddeFenwal will sharpen its
focus on serving a growing, diversified customer and end user base
that requires the highly integrated, competitively priced,
customer-supported fire suppression and safety controls for which
the company has long been well known. Additionally, it will
accelerate product competitiveness and innovation, expanding and
enhancing its proprietary, fully certified offerings as regulatory
bodies drive transitions to more environmentally friendly solutions
in industries spanning power generation / transmission, data
centers, commercial food service, marine, industrial and HVAC.
“With its enviable product portfolio, established brand equity
and strong customer relationships, KiddeFenwal has long been a
dominant, global leader in the fire safety systems and controls
category. Now it is poised to truly accelerate growth,” said James
Oh, Partner of Pacific Avenue Capital Partners. “Our team looks
forward to helping the company fully leverage its strong
fundamentals and prevailing market tailwinds, drive innovation and
make investments in operations that support our extraordinary teams
and enhance our value to customers who place a tremendous amount of
trust in us given the critical nature of our products.”
“Pacific Avenue’s breadth and depth of experience completing
middle-market carve-outs and complex situations was critical in
partnering with Carrier on this transaction,” said Chris Sznewajs,
Founder and Managing Partner of Pacific Avenue Capital Partners. “I
am excited to welcome the KiddeFenwal brand and team, and look
forward to all that lies ahead for the business. This company is
exceptionally well-positioned to build on its industry leading
brand and market position.”
Pacific Avenue Capital Partners received approval on its
purchase of substantially all the assets of Kidde-Fenwal, Inc. by
the United States Bankruptcy Court for the District of Delaware on
April 2, 2024, with certain contributed assets being approved for
acquisition by an affiliate of Pacific Avenue.
Pacific Avenue was advised by Stifel, Nicolaus & Company,
Incorporated as financial advisor and Raines Feldman Littrell LLP
as legal advisor.
About KiddeFenwal
KiddeFenwal is the global market leader in designing and
manufacturing innovative industrial and commercial fire suppression
systems and safety controls with proprietary, fully certified
offerings that save lives, protect property and minimize business
interruption. The company’s Kidde Fire Systems and Kidde Fire
Protection brands produce highly engineered fire suppression,
detection and control systems in the industrial, commercial and
marine end markets, while Fenwal Controls serves OEMs in diverse
end markets with products for gas ignition, temperature control,
and fire and overheat detection. KiddeFenwal is headquartered in
Ashland, Massachusetts and has facilities in the U.S., United
Kingdom and India. Learn more at www.kiddefenwal.com.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners is a Los Angeles-based private
equity firm focused on corporate divestitures and other complex
situations in the middle market. Pacific Avenue has extensive
M&A and operations experience, allowing the firm to navigate
complex transactions and unlock value through operational
improvement, capital investment, and accelerated growth. The
members of the Pacific Avenue team have closed over 105
transactions, including over 40 corporate divestitures, across a
multitude of industries throughout their combined careers. Pacific
Avenue takes a collaborative approach in partnering with strong
management teams to drive lasting and strategic change while
assisting businesses in reaching their full potential. Pacific
Avenue has more than $1.7B Assets Under Management (AUM) as of
March 31, 2024. For more information, please visit
www.pacificavenuecapital.com.
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MEDIA: Sharon Horowitz Resilere Partners 202.559.9171
shorowitz@resilere.com