AE Industrial Sells Altus Fire & Life Safety to Apax Funds

NEW YORK — Altus Fire & Life Safety (Altus) has announced that it has received a strategic investment from funds advised by Apax Partners LLP (“Apax”), a global private equity advisory firm.

Financial terms of the transaction with AE Industrial Partners, a leading private equity firm specializing in national security, aerospace, and industrial services, were not disclosed. According to the company, Altus has grown rapidly in the past few years, both organically and via strategic M&A, adding new service lines and geographies.

Ashish Karandikar, Partner at Apax, said: “We have been tracking the fire and life safety space for several years and have been very impressed by Altus' growth journey to date. We are thrilled to collaborate with John (Adams) and the entire Altus team as we support the Company in this next growth phase, solidifying its leading position in the fire and life safety services industry.”

John Adams, CEO, Altus Fire & Life Safety said: “The acquisition of Altus by the Apax Funds represents a unique and exciting opportunity for the future of our organization and our employees. Apax brings a wealth of experience and resources which are designed to further enable our rapid growth and scale into one of the nation’s leading providers of fire and life safety services. We are very thankful for the partnership with AE Industrial Partners over the past few years, and we believe this new chapter gives us the ability to fully execute on the vision which was the catalyst of Altus’ inception.”

Austen Dixon, Vice President at AE Industrial Partners, added: “When we acquired Altus in 2021, our vision was to create a leading, innovative brand in the fire and life safety sector, while expanding the Company’s footprint. We are proud of the work we have done to drive revenue, streamline operational functions, capitalize on synergies and realign the sales strategy to drive profitability and scalability.”

Altus was advised by Lincoln International. Apax was advised by William Blair and Solomon Partners.