NEW YORK — H.I.G. Capital, a leading global alternative investment firm with $59 billion of capital under management, announced that its portfolio company BECO Holding Company, a leading independent provider of critical fire, life safety and security solutions — dba Brooks Equipment and other brands — has completed the acquisitions of Electronic Supply Company and Grease Lock.
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 U.S. 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.
“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," said BHC CEO Eric Smith. "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.”
"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," added Rahul Vinnakota, managing director at H.I.G. "We are very excited as we continue to support the BHC team through our partnership and catalyze meaningful growth.”
Founded in 1956 and headquartered in Mobile, Alabama, Electronic Supply Company is a leading wholesale distributor of low voltage and security products and provider of monitoring station services with seven locations across the southeastern U.S.; Grease Lock, developed in 2004, 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.
