Building Industry Partners (“BIP”) Forms New Fire & Life Safety Platform, Endeavor Fire Protection (“Endeavor”), With the Acquisition of Valley Fire Protection Systems (“Valley”), a U.S. Fire Protection Services Operator

Endeavor Fire Protection seeks to build a best-in-class full-service national fire and life safety organization.

This is the fourth platform launched by BIP in the past 12 months.

Endeavor Fire Protection, via its acquisition of Valley Fire Protection Systems, provides installation and repair services for fire sprinkler and plumbing systems throughout Illinois, Indiana, and Wisconsin.

Building Industry Partners (“BIP”), the leading building industry-focused private equity investment firm, has formed a new fire and life safety (“FLS”) platform company concurrent with its acquisition of Valley Fire Protection Systems (“Valley”).

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Founded in 1974, Valley Fire Protection Systems is the partner of choice in the market, fostering deep customer relationships in its role as both sub- and prime-contractor. Valley installs, services, and repairs fire suppression and plumbing systems throughout the Midwestern United States. The Company offers a comprehensive suite of systems and services to a diverse customer base including the commercial, industrial, and government markets.

Robert Lane, Vice President at BIP, said, “We are extremely happy to announce the formation of Endeavor Fire Protection and the closing of the Valley Fire Protection Systems acquisition. BIP has deep relationships in the fire protection segment and has long wanted to build a platform in this vertical. Valley is an elite operator with a field-driven philosophy. The Company brings extraordinary capabilities and a long-standing reputation as a leader in the fire protection sector. Given the strong leadership at all levels of the Company, we believe Valley will continue to innovate and grow. We are confident that this will be a strong partnership.”

Mr. Lane also noted, “Endeavor Fire Protection is BIP’s fourth platform under our renewed people-focused purpose. BIP is prioritizing human capital management advancements in the labor-intensive building industry to build better businesses, generate better investment returns, and help employees improve their careers and lives. We have tremendous respect for the field and we wish to provide these individuals, who perform a critical societal function under rugged conditions, the best opportunity to accomplish their professional and life goals. Over the last forty years, Valley has continuously demonstrated that the Company embodies respect for the field and prioritizes a people-first philosophy.”

The transaction addressed the Valley management team’s desire to recapitalize and grow the business. The entire Valley management team is remaining with the Company and is committed to growing Valley. Thomas Hartel, President of Valley Fire Protection, commented, “Choosing to partner with Building Industry Partners to form Endeavor Fire Protection was an easy decision for us, especially given the strong cultural fit, safety emphasis, and focus on people. My family has been in the Fire Protection business for over 120 years. We greatly valued BIP’s shared commitment to employee growth and education as well as the complementary focus on teamwork and customer service. Our team believes this partnership will enhance our commitment and investment in our people and allow us to better serve our customers and communities. We feel confident in a bright future together.”

Dave Sobota, Executive Vice President at Valley Fire Protection Systems, commented, “We could not be more excited. Building Industry Partners’ focus on people development strongly resonated with our entire team. We are on a mission to not only be the very best fire protection and plumbing contractor, but also to be the very best place to work for our employees. BIP’s talent resources, access to growth capital, and deep industry relationships will allow us to greatly strengthen the wonderful foundation Valley has built over the last 40 years. This partnership will allow us to provide even more opportunities to our employees and better serve our customers.”

Justin Gilson, Principal at BIP, added, “We are excited to launch Endeavor Fire Protection with the objective of building a leading national fire and life safety organization both organically and through acquisition. Valley Fire is a preferred provider of fire protection services with a proven track record of operational excellence and a passion for high-quality service. We have been extremely impressed with the entire team at Valley and the strong relationships they maintain throughout the Midwest. We look forward to supporting Tom and his team in the Company’s next phase of growth.”

Much Shelist acted as M&A legal counsel and Holland & Knight LLP acted as corporate and financing legal counsel to BIP. Fifth Third Bank and Siguler Guff & Company provided debt financing to support the formation of the platform.

About Building Industry Partners

Building Industry Partners (“BIP”) is the leading private equity investment firm focused on the U.S. building industry. Founded by Matt Ogden in 2008, BIP is headquartered in Boston, with investment professionals, operating partners and advisors across the U.S.

Over the past 14 years, BIP is proud to have co-founded or been first equity sponsor of a number of the fastest growing and most dynamic businesses in the U.S. building industry’s middle market, including U.S. LBM Holdings, Kodiak Building Partners, Homewood Holdings, and U.S. Fence Solutions/Binford Supply.

In 2020, BIP redefined its purpose: to build exceptional and enduring businesses, generate world class investment returns, and contribute to elevating the building industry and its workforce through people-focused investment & business principles. BIP continues to seek opportunities to sponsor the building industry’s greatest talent in building exceptional businesses, realizing their entrepreneurial visions, and increasing shared prosperity amongst shareholders, management, and the broader workforce.

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