St. Louis, MO. (March 6, 2024) – RapidFire Safety & Security (RapidFire), a multi-regional “Buy & Build” expert for the fire, life safety, and security industries, announces its entry into the Texas market with the acquisition of Texas Star Fire Systems (“Texas Star”), a provider of Fire Protection and Life Safety services.
The acquisition establishes a foundational presence for RapidFire as it lays the course for rapid expansion in Austin, San Antonio, Houston, and the Dallas/Fort Worth area. Based in Austin and San Antonio, Texas Star will serve as RapidFire’s anchor as it expands throughout Texas and the South-Central region.
Founders Mike McLeod and Colin Harrold are proven industry operators and the visionaries steering the course of RapidFire. In partnership with Concentric Equity Partners, Mike and a team of industry veterans lead the company’s multi-regional “buy & build” strategy, building a world-class alliance throughout the Midwest, Southwest and Western US.
“The Texas markets are rapidly growing” said Mark Procyk, President, and CEO at Texas Star. “To keep up with the growth, I looked for a solid partner to help take care of our customers and capture that business. What I found was RapidFire Safety & Security, a trustworthy partner where people matter most.”
Founded in 2010, Texas Star is a full-service fire protection contractor that services fire sprinkler systems, fire suppression systems, fire alarms and fire extinguishers throughout Southern Texas. The company offers design, installation, inspection, testing and maintenance services for all building life safety requirements in the commercial sector.
Texas Star boasts a staff of experienced industry veterans who pride themselves on getting the job done right the first time, making them an ideal addition to the RapidFire family. Mark will serve as the company’s Southcentral Region Manager and will maintain a significant ownership stake in the RapidFire platform; it is anticipated that all Texas Star employees will remain with the company post-close.
“Through a dedication to their employees and exceptional customer service, Mark and his team have built an amazing company to serve South Texas markets’ fire protection needs," said Mike McLeod, RapidFire CEO. “These characteristics are perfectly aligned with RapidFire’s mission and values and we’re extremely fortunate to have Texas Star Fire Systems join our family.”
Recognizing the gap between family-run businesses and industry giants, RapidFire offers a leadership approach that ensures peace of mind to owners who have maxed out their growth potential. The company is focused on building on your legacy, with a range of options available, including any combination of cash, equity, and seller financing.
With a diverse talent pool and a broadly expanding economy, Texas is an ideal landscape for deploying significant capital and partnering with local entrepreneurs.
"Texas Star Fire Systems serves as a strategic entry point for the RapidFire platform into the major Texas markets, a key priority for us since our inception in 2022," said Adam Lucas, Principal at Concentric. "The state's dynamic population and economic growth and business-friendly environment make Texas an attractive investment opportunity. Moreover, the emphasis on relationship-building within the state and its business communities resonates deeply with our culture at Concentric and Financial Investments Corporation, the Steans Family Office.”
Investing in Texas has been a central theme for Concentric Equity Partners for nearly a decade. Currently the firm boasts six platform companies headquartered in the state, with two more (including RapidFire) having significant operations there, representing over $150 million in total equity investment. Like RapidFire, many of these companies are highly acquisitive, indicating Concentric's continued commitment to substantial equity investments in Texas for the foreseeable future.
