KKR Acquires Marmic Fire & Safety
KKR, a leading global investment firm, has acquired Marmic Fire & Safety from HGGC. Marmic specializes in fire equipment inspection, testing, and maintenance services for over 56,000 customers across various sectors in the U.S. The company, founded in 1951, plays a important role in ensuring customer safety and regulatory compliance.
Key highlights:
- KKR plans to implement a broad-based employee ownership program at Marmic
- The acquisition is part of KKR's Ascendant Strategy, focusing on middle market businesses in North America
- Marmic will continue to operate as an independent company backed by KKR
- Financial terms of the deal were not disclosed
This acquisition aligns with KKR's strategy of employee engagement as a driver for building stronger companies, having previously awarded billions in equity value to over 100,000 non-senior management employees across its portfolio.
KKR, una delle principali società di investimento a livello globale, ha acquisito Marmic Fire & Safety da HGGC. Marmic si specializza in servizi di ispezione, collaudo e manutenzione delle attrezzature antincendio per oltre 56.000 clienti in vari settori negli Stati Uniti. Fondata nel 1951, l'azienda svolge un ruolo importante nel garantire la sicurezza dei clienti e la conformità alle normative.
Punti salienti:
- KKR prevede di implementare un programma di proprietà condivisa per i dipendenti presso Marmic
- L'acquisizione fa parte della Strategia Ascendente di KKR, che si concentra sulle imprese di mercato intermedio in Nord America
- Marmic continuerà a operare come un'azienda indipendente sostenuta da KKR
- I termini finanziari dell'accordo non sono stati resi noti
Questa acquisizione si allinea con la strategia di KKR di coinvolgere i dipendenti come motore per costruire aziende più solide, avendo precedentemente assegnato miliardi di valore azionario a oltre 100.000 dipendenti non-dirigenti nel suo portafoglio.
KKR, una de las principales firmas de inversión a nivel mundial, ha adquirido Marmic Fire & Safety de HGGC. Marmic se especializa en inspección, pruebas y servicios de mantenimiento de equipos contra incendios para más de 56,000 clientes en varios sectores en los Estados Unidos. Fundada en 1951, la empresa desempeña un papel importante en asegurar la seguridad de los clientes y el cumplimiento normativo.
Puntos destacados:
- KKR planea implementar un programa de propiedad accionaria para empleados en Marmic
- La adquisición es parte de la Estrategia Ascendente de KKR, que se centra en negocios de mercado medio en América del Norte
- Marmic seguirá operando como una empresa independiente respaldada por KKR
- Los términos financieros del acuerdo no se han revelado
Esta adquisición se alinea con la estrategia de KKR de involucrar a los empleados como motor para construir empresas más sólidas, habiendo otorgado anteriormente miles de millones en valor de capital a más de 100,000 empleados no pertenecientes a la alta dirección en su cartera.
KKR는 세계적인 투자 회사로서 HGGC로부터 Marmic Fire & Safety를 인수했습니다. Marmic은 미국 내 다양한 분야의 56,000명 이상의 고객을 위한 소방 장비 검사, 테스트 및 유지 보수 서비스를 전문으로 하고 있습니다. 1951년에 설립된 이 회사는 고객 안전 및 규제 준수 보장에 중요한 역할을 하고 있습니다.
주요 사항:
- KKR는 Marmic에서 광범위한 직원 소유 프로그램을 시행할 계획입니다
- 이번 인수는 북미 중소기업에 중점을 둔 KKR의 Ascendant Strategy의 일환입니다
- Marmic는 KKR의 지원을 받는 독립 회사로 계속 운영될 것입니다
- 거래의 재무 조건은 공개되지 않았습니다
이번 인수는 KKR의 직원 참여 전략과 일치하며, 이는 더 강력한 회사를 만드는 원동력이 됩니다. KKR은 이전에 자신의 포트폴리오 내에서 100,000명 이상의 비상급 관리 직원에게 수십억 달러의 주식 가치를 수여했습니다.
KKR, une société d’investissement mondiale de premier plan, a acquis Marmic Fire & Safety auprès de HGGC. Marmic se spécialise dans l’inspection, le test et les services de maintenance des équipements de lutte contre l’incendie pour plus de 56 000 clients dans divers secteurs aux États-Unis. Fondée en 1951, l'entreprise joue un rôle important dans la garantie de la sécurité des clients et du respect des normes réglementaires.
Points clés :
- KKR prévoit de mettre en œuvre un programme de propriété par les employés chez Marmic
- L’acquisition s'inscrit dans la Stratégie Ascendante de KKR, qui se concentre sur les entreprises de taille intermédiaire en Amérique du Nord
- Marmic continuera d'opérer en tant qu'entreprise indépendante soutenue par KKR
- Les conditions financières de l’accord n’ont pas été divulguées
Cette acquisition s'aligne sur la stratégie de KKR d'engagement des employés comme moteur pour construire des entreprises plus solides, ayant précédemment accordé des milliards en valeur d'équité à plus de 100 000 employés non cadres dans son portefeuille.
KKR, eine führende globale Investmentgesellschaft, hat Marmic Fire & Safety von HGGC erworben. Marmic ist auf Inspektions-, Test- und Wartungsdienste für Brandschutzgeräte spezialisiert und bedient über 56.000 Kunden in verschiedenen Sektoren in den USA. Das 1951 gegründete Unternehmen spielt eine wichtige Rolle bei der Gewährleistung der Sicherheit der Kunden und der Einhaltung von Vorschriften.
Wichtige Punkte:
- KKR plant, ein breit angelegtes Mitarbeiterbeteiligungsprogramm bei Marmic umzusetzen
- Die Akquisition ist Teil von KKR's Ascendant Strategy, die sich auf Unternehmen im mittleren Markt in Nordamerika konzentriert
- Marmic wird weiterhin als unabhängiges Unternehmen unter der Unterstützung von KKR operieren
- Die finanziellen Bedingungen des Deals wurden nicht bekannt gegeben
Diese Akquisition entspricht der Strategie von KKR, die Mitarbeiterbeteiligung als Antrieb zur Schaffung stärkerer Unternehmen zu nutzen, nachdem zuvor Milliarden an Eigenkapitalwert an über 100.000 nicht leitende Mitarbeiter im Portfolio vergeben wurden.
- Acquisition of Marmic Fire & Safety expands KKR's portfolio in the fire safety services sector
- Implementation of broad-based employee ownership program at Marmic, potentially improving employee engagement and retention
- Marmic's established customer base of over 56,000 across various sectors provides a stable revenue stream
- Opportunity for KKR to leverage its resources and expertise to accelerate Marmic's growth
- Financial terms of the acquisition were not disclosed, limiting assessment of the deal's impact on KKR's financials
- Potential integration challenges and costs associated with implementing new ownership structure at Marmic
Insights
KKR's acquisition of Marmic Fire & Safety marks a significant move in the fire safety services sector. While financial terms weren't disclosed, this deal is likely to have substantial implications for both companies and the industry at large.
From an investor's perspective, KKR's strategy of implementing a broad-based employee ownership program is particularly noteworthy. This approach, which KKR has successfully employed across its portfolio, can potentially lead to increased employee engagement and productivity. Since 2011, KKR has awarded billions in equity value to over 100,000 non-senior management employees, suggesting a strong track record with this model.
Marmic's position as a leading provider in the regulation-mandated fire equipment services industry presents a stable revenue stream, given the critical nature of its services and the regulatory requirements driving demand. The company's extensive customer base of over 56,000 across diverse sectors indicates a strong market position and potential for further growth.
However, investors should consider the potential challenges of integrating Marmic into KKR's portfolio and the costs associated with expanding the employee ownership program. The success of this acquisition will likely depend on KKR's ability to leverage its resources and expertise to accelerate Marmic's growth while maintaining its service quality and employee-centric culture.
Overall, this acquisition appears to align with KKR's Ascendant Strategy for middle market businesses in North America, potentially offering long-term value creation opportunities for KKR's investors.
The acquisition of Marmic Fire & Safety by KKR signifies a notable development in the fire safety services market. This sector, driven by stringent regulations and safety requirements, presents a resilient business model with potential for steady growth.
Marmic's extensive customer base spanning commercial, industrial, multi-family, education, government and healthcare sectors indicates a diverse market penetration. This diversification can serve as a buffer against sector-specific downturns, providing stability to the company's revenue streams.
The fire safety services market is characterized by its fragmented nature, with numerous local and regional players. KKR's acquisition of Marmic could potentially signal a trend towards consolidation in this industry. With KKR's financial backing and strategic expertise, Marmic may be positioned for accelerated growth through acquisitions, potentially reshaping the competitive landscape.
Furthermore, the increasing focus on building safety and stringent regulatory environment across the U.S. suggests a favorable long-term outlook for companies like Marmic. The critical nature of fire safety services also implies a certain degree of recession resistance, which could be attractive to investors in uncertain economic times.
However, it's important to monitor how Marmic maintains its service quality and technical expertise during this transition and potential expansion phase. Any decline in these areas could impact its market position and customer retention rates.
Overall, this acquisition could be a harbinger of increased private equity interest in the fire safety services sector, potentially leading to more M&A activity and market consolidation in the coming years.
All Employees to Become Owners in the Company
Marmic specializes in the inspection, testing, and maintenance of fire protection equipment for more than 56,000 customers across the commercial, industrial, multi-family, education, government, and healthcare end markets in the
“Marmic’s growth is a testament to the talent and dedication of our team. We are thrilled to begin working with KKR, which shares our belief in the power of our employee-centric culture and supports our ambition for building a scaled fire safety services platform that strives to provide reliable, expert service to our customers. I see tremendous potential for Marmic in this next phase of its journey,” said Greg Bochicchio, Chief Executive Officer of Marmic.
“For over 70 years, Marmic has been a trusted provider to its customers, helping them prevent life-threatening incidents and ensuring the safety of thousands of people across the
KKR will support Marmic in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of equity value to over 100,000 non-senior management employees across more than 40 portfolio companies.
KKR is making its investment in Marmic through its Ascendant Strategy, which invests in middle market businesses in
Houlihan Lokey and Latham & Watkins LLP served as advisors to KKR.
About Marmic:
Founded in 1951, Marmic Fire & Safety Co. is a leading provider of regulation-mandated fire protection equipment inspection, testing, and maintenance services. Marmic services over 56,000 customers throughout
About KKR:
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240724347019/en/
Media
For Marmic:
Carrie Gerbitz
(417) 627-5640
communications@marmicfire.com
For KKR:
Julia Kosygina or Emily Cummings
(212) 750-8300
media@kkr.com
Source: KKR
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