PORTLAND, Maine--(BUSINESS WIRE)--North Haven Capital (NHC), a private investment firm based in Portland, Maine announced today that it has acquired New England-based Interstate Fire Protection (IFP). NHC teamed up with BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging markets.
Interstate Fire Protection is a leading provider of fire protection services and systems that are protecting hundreds of businesses across New England. The company also undertakes the design and sale of systems protecting manufacturing assets outside of the region on a national level. North Haven Capital identified IFP as a rapidly growing, regional leader that is ready for a transition in ownership and seeks a new management team with the ability to drive the expansion of its product offerings, target end markets, and national footprint.
Drew Bagin, Partner at North Haven Capital, said, “The Mooney Brothers have built a long-standing fire suppression partner that acts local, but covers a national customer base. We’re excited to work with the employees of IFP to expand their presence geographically and into new products and service offerings.”
Former District General Manager with SimplexGrinnell and operating advisor to NHC Matt Bresnahan said, "it's great to once again be connected in part to this important industry. Having successfully led a fire protection business in the local market I am excited for the future of IFP and its customers.”
Terence Mooney, of Interstate Fire Protection said, “The team at North Haven Capital brings a new level of expertise and resources to accelerate the Interstate’s continued success. We are excited and pleased to work with North Haven in the shared goals of providing a rewarding environment for our valued team members and in increasing our market share both regionally and nationally.”
Copper Run Capital advised Interstate Fire Protection in its sale process. Michael Shaw, Partner at Copper Run commented, “It has been a pleasure working with John and Terry Mooney of Interstate Fire as well as Sam and Drew of North Haven to successfully transition ownership. We’re excited to see the growth opportunities that lie ahead for Interstate.”
About North Haven Capital
North Haven Capital is a family office backed private investment group investing in middle market family and owner-operated businesses in northern New England. North Haven Capital is a group of seasoned entrepreneurs and investment professionals. With NHC’s long-term investment horizon, they focus primarily on control acquisition of businesses with a proven track record of success.
About Interstate Fire Protection
Established in 1981 with offices in ME and NH, Interstate Fire Protection is a leading provider of fire protection equipment and services regionally to customers in New England and nationally. Interstate Fire Protection serves customers in all commercial and institutional sectors including retail fuel operations, food service, food manufacturing, power generation, forest products, the military, and marine interests. The company provides solutions ranging from fire extinguishers to sophisticated state-of-the-art Fire Protection Systems protecting high value industrial assets.