SAN FRANCISCO, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Sciens Building Solutions (“Sciens”), a leading full-service commercial fire and life safety company, announced today that it has reached a definitive agreement to sell a majority stake to funds managed by global investment firm Carlyle (NASDAQ: CG). The Company’s senior management team, as well as current owner Huron Capital, will retain minority equity stakes in the business. Terms of the private transaction were not disclosed.
Headquartered in San Francisco, Sciens is focused on the fire detection and security services sector, including the design, installation, and provision of maintenance services for fire detection and clean agent fire suppression systems in a variety of commercial, institutional, and government facilities.
Terry Heath, Founder and CEO of Sciens, said, "Since forming Sciens in 2016, we have rapidly grown and successfully integrated numerous acquisitions and we believe that Carlyle is the ideal partner for the next phase of our journey. Carlyle will bring additional resources and valuable industry expertise as we continue to invest and grow organically and through acquisition. We thank Huron Capital for their partnership in establishing Sciens and look forward to our new partnership with the Carlyle team.
Greg Nikodem, Managing Director at Carlyle, said, “We’re excited to partner with Terry and Sciens’ experienced and talented team to fuel the Company’s growth in such an attractive market. By combining management’s unparalleled knowledge of the fire and life safety industry with our resources and network of relationships, we aim to add value for Sciens’ customers, channel partners and employees. This investment is consistent with our demonstrated strategy within the broader business services space, and we look forward to helping the team accelerate their vision of building a best-in-class and differentiated company."
Jim Mahoney, Managing Partner at Huron Capital, said, "We have been extremely proud to support Terry and the senior management team over the last five years. Looking forward, we knew that Sciens would benefit from a larger partner with deep industry experience, and there is no one better to do this than the Carlyle team."
Baird served as financial advisor and Honigman LLP served as legal advisor to Huron and Sciens. Harris Williams served as financial advisor and Latham and Watkins LLP served as legal advisor to Carlyle. The transaction is subject to customary closing conditions.
