AE Industrial Partners acquires Cross-Fire & Security Co.
BOCA RATON, FL, May 20, 2021 – AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Space, Power Generation, and Specialty Industrial markets, announced today that it has acquired Cross-Fire & Security Co., Inc. (“Cross-Fire” or the “Company”), a full-service fire and life safety company specializing in the design, engineering, installation, maintenance, monitoring and servicing of state-of-the-art life safety systems. Cross-Fire will serve as the entry point for a new fire and life safety services platform for AEI, as the firm looks to make significant investments in this critically important industry.
AEI has partnered with key industry executives to support Cross-Fire’s growth and will be strengthening its Board of Directors with the addition of Kelly Romano as Chairman of the Board, and Ed Cettina as a Board Member. Ms. Romano, an AEI Operating Partner, has deep sector experience in fire & security and commercial building industries, including over 30 years in executive roles at United Technologies Corporation (UTC). Mr. Cettina most recently was the Global COO of the Construction Management business of AECOM, and previously worked for 24 years in senior roles at Tishman Construction.
Founded in 1993 and headquartered in Brooklyn, NY, Cross-Fire has gained a stellar reputation for providing unequaled quality and reliability in the fire detection and life safety field. Its dedicated team of highly skilled and certified project managers and technicians manage all aspects of a project, from the design phase to final inspection and ongoing monitoring and maintenance services. The Company has entrenched relationships with key suppliers, the New York City Fire Department and some of the largest commercial real estate firms in the country. A few of Cross-Fire’s high-profile projects include Citi Field Stadium (home to the New York Mets), St. Patrick’s Cathedral and the Intrepid Museum. Cross-Fire’s founders, Brendan Doorly and Kevin Maguire, will maintain an integral role in the Company going forward.
“We see tremendous opportunity in consolidating the fragmented fire and life safety sector. We are excited to have the opportunity to create a unique platform with significant scale and national reach,” said Charlie Santos-Buch, Partner at AEI. “We look forward to partnering with the founders, Brendan and Kevin, and our industry experts, Kelly, Ed and others, as we grow the business.”
“Gaining a partner of AE Industrial’s caliber is exciting for Cross-Fire, and will open up new avenues for growth,” said Mr. Doorly and Mr. Maguire. “Life safety companies must be able to deliver quality services and gain the trust of customers to secure preeminent projects. With AE Industrial’s backing, and with the guidance of our new Board members, we will have the resources to invest in the latest technologies and services and training of our staff to offer our customers the best solutions available as we grow in our target markets. Cross-Fire’s mission is to become a preeminent life safety company offering a full suite of services beyond our current fire alarm capabilities, expanding into suppression systems, sprinkler systems, fire extinguishers and more.”
“Customers in the fire and life safety marketplace value reliability and quality of service above all else, and Cross-Fire has an outstanding reputation in the space,” said Trey Bivins, Principal at AEI. “We have also added greater depth to the leadership team with new Board members Kelly and Ed. Their keen understanding of both the commercial real estate and fire and life safety industries will be invaluable as Cross-Fire aggressively pursues synergistic acquisitions and strategic growth.”
Kirkland & Ellis LLP served as legal advisor and PricewaterhouseCoopers served as financial advisor to AEI. Goudsouzian & Associates served as the legal advisor to Cross-Fire. Terms of the transaction were not disclosed.
