Boyne Capital Acquires Rapid Fire Protection of Rapid City, S.D.
Rapid Fire specializes in the design, installation, inspection, testing and maintenance of fire suppression and alarm systems.
The Rapid Fire Protection transaction represents the most recent platform investment by Boyne Capital's BCM Fund I, which targets investments in the lower middle market sector.
MIAMI — Boyne Capital, based here, has acquired Rapid Fire Protection, a full-service fire protection solutions firm, for undisclosed terms.
Based in Rapid City, S.D., Rapid Fire Protection specializes in the design, installation, inspection, testing and maintenance of fire suppression and alarm systems across the Midwestern and Western United States.
Rapid Fire Protection has served the fire protection market since 1993, working closely with developers, owners and operators of large-scale facilities, including commercial and government buildings as well as multifamily and mixed-use residential properties.
Additionally, the company’s industrial services division develops custom-engineered fire suppression solutions for critical asset and special hazard applications across a variety of end markets including petrochemicals, mining, aviation and agriculture.
“Rapid Fire Protection is a leader in the fire protection services industry,” states Boyne Managing Partner and CEO Derek McDowell in an announcement. “Its diverse range of service offerings, broad geographic footprint, long-term customer relationships and experienced team provide a strong foundation for expansion.
Rapid Fire Protection CEO Matt Hammon explains the company will now enter a new phase of accelerated growth.
“We see immense opportunity to expand our capabilities and geographic reach, leveraging the relationships and track record built over 25-plus years in the industry, and Boyne is the right partner to help us take this platform to the next level,” Hammon says.
The Rapid Fire transaction represents the most recent platform investment in BCM Fund I, with $126 million of total capital commitments. The Fund targets investments in the lower middle market sector, specifically companies with revenues of less than $100 million and with EBITDA of $2 million to $10 million.
Founded in 2006, Boyne Capital has invested in a broad range of industries, including healthcare services, consumer products, niche manufacturing, business and financial services, among others.
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