Fire and safety industry adds another transaction, Blackstone (BX.US) plans to acquire AI Fire from TruArc for $1.1 billion.
This transaction is another deal in the recent fire and safety business sector, as owners are seeking more protection during extreme weather conditions.
According to sources, Blackstone (BX.US) has agreed to acquire AI Fire for approximately $1.1 billion (including debt).
AI Fire is responsible for installing and maintaining fire extinguishers, alarms, sprinkler systems, and other products, and is backed by TruArc Partners, who announced a sale agreement earlier on Thursday without disclosing the specifics of the buyer and terms.
Representatives from Blackstone Inc. declined to comment, and representatives from TruArc did not immediately respond to requests for comment.
This deal is the latest in a series of transactions in the fire and safety industry as property owners seek more protection in extreme weather conditions.
Sources revealed earlier on Thursday that Permira has agreed to acquire Encore Fire Protection for approximately $1.8 billion (including debt). In January, Pye-Barker Fire & Safety announced the sale of minority stakes to a wholly-owned subsidiary of GIC Pte and Abu Dhabi Investment Authority.
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