West Palm Beach, FL, April, 2012 – The Comvest Group (“Comvest”), through its Comvest Investment Partners IV fund (“Comvest IV”), is pleased to announce the acquisition of the U.S. fire and security branch operations of United Technologies Corp. (NYSE: UTX). The Company will operate under the name Red Hawk Fire and Security (“Red Hawk”). Terms of the transaction were not disclosed.
The U.S. fire and security branch operations were formed as a result of a roll-up of Detection Logic, a leading fire detection company on the west coast, Red Hawk, and several other small U.S.-based businesses over the last several years. The Company has a national footprint currently consisting of approximately 40 locations and approximately 1,350 employees.
Roger Marrero, Managing Director with Comvest, said, “We are excited about the opportunities for Red Hawk, and our partnership with experienced, well-respected industry executives to lead our growth strategy. Both Mike Snyder, former President and Chief Operating Officer of ADT, and Dean Seavers, former President of SimplexGrinnell and CEO of GE Security, have extensive industry experience and will help us take advantage of favorable market trends and a strong national market position.”
About Red Hawk:
Red Hawk is a leading fire safety and integrated security installation (new and retrofit), maintenance (testing and repair) and monitoring services company. The Company’s products include fire alarm panels and components, CCTV, access control panels, intrusion alarms and ATMs. Red Hawk serves a diverse number of end markets including financial services, healthcare, education, commercial buildings and manufacturing. The Company has a national footprint of approximately 40 locations and employs approximately 1,350 people.
The Comvest Group , with $1.4 billion of committed capital, provides flexible financing solutions to lower middle-market companies through its equity and debt funds, often meeting time-critical and complex funding requirements. Our firm includes seasoned, senior level operating executives who partner with managers and owners of companies to operationally improve businesses and create long-term value. Since 2000, Comvest has invested more than $1.5 billion of capital in over 105 public and private companies.