H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $59 billion of capital under management, is pleased to announce that its portfolio company, BECO Holding Company (“BHC,” dba “Brooks Equipment” and other brands), a leading independent provider of critical fire, life safety, and security solutions, has completed the acquisitions of Electronic Supply Company (“ESC”) and Grease LockTM.
The acquisitions of ESC and Grease Lock represent the addition of two leading providers of leading products and value-added services in the fire, safety, and security markets throughout the United States and accelerate BHC’s strategic expansion of product segments, vendor relationships, and territories.
As part of the transactions, BHC will support and accelerate the long-term growth initiatives at both businesses and capitalize on commercial synergy opportunities. Terms of the transactions were not disclosed.
Eric Smith, CEO of BHC, said, “We are thrilled to welcome ESC and Grease Lock to BHC, the nation’s premier provider of fire, life safety, and security products and technologies. As market leaders within their respective areas with complementary products and services, these businesses are a natural fit for the BHC platform. We are very excited to accelerate their long-term growth plans to better serve our customers.”
Rahul Vinnakota, Managing Director at H.I.G., added, “We are pleased to support BHC in making its first two highly strategic acquisitions since forming our partnership. These investments are consistent with our strategy to acquire high quality, complementary businesses to further expand BHC’s proven track record of providing the highest levels of products and services to its customers. We are very excited as we continue to support the BHC team through our partnership and catalyze meaningful growth.”
About Electronic Supply Company
Founded in 1956 and headquartered in Mobile, AL, Electronic Supply Company (“ESC”) is a leading wholesale distributor of low voltage and security products and provider of monitoring station services with seven locations across the Southeastern United States. For more information, visit: www.electsupply.com.
About Grease LockTM
Developed in 2004, Grease Lock is a state-of-the-art patented product line that is engineered to capture up to 98% of airborne kitchen grease, simplifying hood maintenance and augmenting fire safety in commercial kitchens. Grease Lockfilter pads and metal frames are easy to use and replace traditional baffles, significantly decreasing fire risk, hood cleanings, and labor costs in commercial cooking settings.
About BECO Holding Company
Founded in 1941 as Brooks Corporation, BECO Holding Company is the leading independent provider of critical fire, life safety, and security solutions. The Company serves independent service providers and national account customers through its extensive OEM relationships, vast product assortment, and 16 distribution centers nationwide. BHC operates an integrated and cohesive platform through the following leading brands, including Brooks Equipment (www.brooksequipment.com), Logistics Supply (www.logisticssupply.com), Heiser Logistics (www.heiserusa.com), L&J Fire Equipment (www.landjfire.com), Commercial Fire (www.commercialfire.com), and Water Specialties (www.backflowpreventer.com).
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $59 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, and São Paulo, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
*Based on total capital raised by H.I.G. Capital and affiliates.
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