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Apax Global Alpha (LSE:APAX) has announced a strategic allocation of €12 million to Altus Fire & Life Safety, a prominent provider of fire and life safety services in the northeastern United States. This move is facilitated through Apax XI, the private equity fund that recently completed its acquisition of Altus in August.
Founded in 1993 and headquartered in New York, Altus offers a comprehensive suite of services including the installation, testing, inspection, and repair of fire alarms, sprinkler systems, and security systems. The company has established a strong reputation within the fragmented fire and life safety sector, demonstrating significant growth through both organic development and strategic acquisitions.
The purpose of this allocation is to bolster Altus’ ongoing expansion efforts. The focus will be on enhancing the company's sales and marketing capabilities, increasing recurring service revenue, and extending its geographical reach. By leveraging its extensive experience with similar service-based business models—such as Safetykleen and SavATree—Apax Funds aims to support Altus in achieving its growth objectives. This approach is intended to help Altus capitalize on market opportunities and drive further development in its sector.
Apax Global Alpha’s latest allocation forms part of its broader commitment to Apax XI, to which it allocated approximately $700 million in June 2022. This commitment underscores Apax Global Alpha’s strategic intent to support companies with strong growth potential and solid market positions.
The announcement of this allocation has positively impacted Apax Global Alpha’s share performance. As of 1054 BST, the company’s shares had risen by 1.5%, reaching 145.55p, reflecting favorable market sentiment towards the firm’s strategic initiatives.
The investment in Altus is expected to contribute to the company’s continued success by leveraging Apax Funds’ expertise and resources to drive expansion and enhance operational efficiencies. This strategic move highlights Apax Global Alpha’s ongoing focus on partnering with businesses that exhibit robust growth potential and market leadership.
Overall, the allocation to Altus Fire & Life Safety represents a significant step in Apax Global Alpha’s strategy to support high-potential companies in dynamic sectors. By advancing Altus’ growth, Apax Global Alpha aims to reinforce its commitment to creating value through strategic partnerships and targeted investments.
