AE Industrial's Altus Fire and Life Safety Acquires Croker
Fire and Life Safety Services Platform Gains Additional Services for Commercial Properties and Healthcare Facilities
BROOKLYN, N.Y., March 31, 2022 /PRNewswire/ -- Altus Fire and Life Safety ("Altus"), a full-service fire and life safety services platform, announced today it has acquired Croker (or the "Company"), a provider of fire, life safety, emergency preparedness and business resilience programs in the Northeastern U.S. Terms of the transaction were not disclosed.
Altus, a fire and life safety services platform owned by private equity firm AE Industrial Partners, LP ("AEI"), now consists of five businesses - Cross-Fire & Security, Alarm & Suppression, NISCO, Adcock, and Croker. Croker President Brian L. Weinstein will remain with the Company and maintain a minority stake.
Founded in 1911, Croker operates through three subsidiaries, Croker Fire Drill Corporation, Croker Fire Safety Corporation and Croker Fire & Life Safety Institute. The Company provides a wide range of fire and life safety services for the workplace, including drills, planning, educating, training, exercising, and consulting services as well as crisis management and business continuity services. Croker primarily serves commercial properties and institutional facilities, including healthcare, in New York, Connecticut, New Jersey, Pennsylvania and Delaware."
"We are delighted to add Croker and its broad array of services to our growing team," said John Adams, CEO of Altus. "As we continue to build out our platform, Croker's unique offerings will add scale and make Altus even more competitive as we address the significant market demand for life-safety services."
Brian Weinstein said, "We are thrilled to be joining the Altus team of like-minded and well-known establishments. These additional resources and expansive synergies will support Croker's growth and provide us with the opportunity to continually engage our clients with an all-encompassing customer experience."
"My son Brian and I are proud to have built this business into the regional industry leader it is today. We're confident that the Company will be in a better position to achieve next level growth under the stewardship of Altus and AEI," said Ray Weinstein, owner of Croker.
Altus has partnered with key industry executives, including Board Chair Kelly Romano, an AEI Operating Partner with deep sector experience in fire & security and commercial building industries including over 30 years at United Technologies Corporation (UTC), and Board Member Ed Cettina, a senior construction management executive previously working with AECOM and Tishman Construction.
"We continue to see demand for life-safety services that provide peace of mind to property owners, management, and building occupants. In a fragmented industry, Croker's programs and rigorous certification courses stand out as additive to Altus' offerings, and we are excited to bring them on board to deepen the platform's range," said Mr. Cettina.
Serving customers for more than 100 years, Altus is a full-service fire and life safety services platform. Altus offers a complete suite of solutions, from the design, engineering, installation, and servicing of state-of-the-art fire and life safety systems, to training, consulting, crisis management and business continuity services. The platform currently consists of five brands including Cross-Fire & Security Co., Alarm & Suppression, NISCO, Adcock and Croker. For more information on Altus, please visit www.altusfire.com.
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.
CONTACT:
Lambert
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]
SOURCE Altus Fire and Life Safety; AE Industrial Partners
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