HGGC acquires fire protection company Marmic Fire & Safety from TSCP
HGGC, a middle-market private equity firm, has completed the acquisition of Marmic Fire & Safety, a US-based fire protection company, from Thompson Street Capital Partners (TSCP).
The financial terms of the deal were not disclosed.
According to HGGC, the fire protection company’s CEO and founding family member Michael Teeter will continue to steer the business and will hold on to a significant ownership stake.
Marmic Fire & Safety, which is headquartered in Joplin, Missouri, operates across the US. It caters to retail, commercial, medical, and industrial end-markets with recurring inspection, test and maintenance services that are said to conform to OSHA mandates, government codes, and NFPA standards.
Michael Teeter – CEO of Marmic Fire & Safety said: “We are very excited to partner with HGGC to build on the consistent growth we have achieved over the past decade.
“This company was founded by my grandparents, and it was very important to me to work with a firm that understands and appreciates what a family business really means. HGGC’s partnership approach made them a perfect fit to help us continue to identify and acquire other great fire protection companies to join the Marmic family.”
Marmic Fire & Safety had made 18 acquisitions since 2012 to expand its business to serve over 30,000 customers.
Steve Young – Co-Founder and President of HGGC said: “Michael and the senior leadership team at Marmic have built something very special and we are excited to partner with them to accelerate their organic and acquisition-driven growth strategies.
“With Marmic’s great culture, and Michael’s deep knowledge from growing up in the business, we’re confident Marmic will be the fire safety platform of choice for employees, customers and potential sellers.”