Building Industry Partners (BIP), a leading private equity firm focused on the U.S. building industry, is pleased to announce the sale of Endeavor Fire Protection, a rapidly expanding provider of fire protection and life safety services. Endeavor has been sold to APi Group Corporation (NYSE: APG), a market-leading provider of safety and specialty services, with over 500 locations globally. The terms of the transaction were not disclosed.
“This is a significant milestone for Endeavor and its team,” said Pat Mascia, Partner at BIP. “We are proud to have supported a talented management team that has achieved remarkable growth.”
BIP partnered with Endeavor’s CEO, Robert Lane, in 2022, to launch the Endeavor platform. The company began by focusing on the Greater Chicago area, acquiring Valley Fire Protection and Allegiant Fire Protection. With BIP’s support, Endeavor grew from three to eight locations across fourteen states, adding nearly 300 team members. During BIP’s two-year ownership, Endeavor saw its revenues and profitability more than double, achieving over 2x and 3.5x growth, respectively.
Robert Lane, CEO of Endeavor, commented, “We believe APi Group shares our values of strong customer performance, employee growth, and integrity. This partnership will further our commitment to our people and improve our ability to serve customers and communities. Our recent success is a result of the dedication of our local teams, skilled tradespeople, and focus on being the partner and employer of choice.”
Pat Mascia added, “Endeavor’s success is a testament to the leadership and vision of its management team. By backing talented leaders, we’ve seen significant value creation in a sector they are passionate about.”
Justin Gilson, Partner at BIP, noted, “The Endeavor team has excelled in growing organically and expanding into new geographies, particularly in the Western U.S. We are confident that APi will continue Endeavor’s success as it enters this next chapter.”
As part of the transaction, Endeavor’s employees participated in BIP’s broad-based employee ownership plan, which has been implemented across all its portfolio companies since 2020. Matt Ogden, Managing Partner at BIP, stated, “The sale of Endeavor marks the first exit with our employee ownership program, which has aligned interests among shareholders, management, and team members. This initiative has helped Endeavor become an employer of choice and contributed to its growth and success.”
FMI Capital Advisors served as exclusive financial advisor to Endeavor Fire Protection, and Holland & Knight provided legal counsel to BIP.
