Secondary Buyout • Safety/Security

Leonard Green & Partners Acquires Pye-Barker Fire & Safety

On November 26, 2019, private equity firm Leonard Green & Partners acquired safety/security company Pye-Barker Fire & Safety from Carousel Capital

Acquisition Context
  • This is Leonard Green & Partners’ 1st transaction in the Safety/Security sector.
  • This is Leonard Green & Partners’ 77th transaction in the United States.
  • This is Leonard Green & Partners’ 5th transaction in Georgia.
Investment Fate
  • Pye-Barker Fire & Safety was sold to a consortium of financial buyers in 2021.

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M&A Deal Summary

Date November 26, 2019
Target Pye-Barker Fire & Safety
Sector Safety/Security
Buyer(s) Leonard Green & Partners
Sellers(s) Carousel Capital
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co. (Financial)
K&L Gates (Legal)

Target Company

Pye-Barker Fire & Safety

Alpharetta, Georgia, United States
Pye-Barker Fire & Safety is a provider of route-based fire protection services, including monitoring, inspection, maintenance and repair of fire detection and suppression products. Pye-Barker Fire & Safety was formed in 1946 and is based in Alpharetta, Georgia.
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Buyer Overview 1

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


Deal Context for Buyer #
Overall 82 of 108
Sector: Safety/Security 1 of 2
Type: Secondary Buyout 34 of 48
State: Georgia 5 of 6
Country: United States 77 of 100
Year: 2019 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-14 WCG

Princeton, New Jersey, United States

WCG is a provider of regulatory and ethical review services for human research. The pioneer of independent ethical review, WCG continues to drive ingenuity in the clinical research space. WCG delivers transformational solutions that stimulate growth, foster compliance and maximize efficiency for those who perform clinical trials. WCG was founded in 2012 and is based in Princeton, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-09 AerSale

Coral Gables, Florida, United States

AerSale is a provider of aftermarket aircraft, engines, and their component parts to airlines, leasing companies, and OEM/MRO service providers. AerSale was formed in 2008 and is based in Coral Gables, Florida.

Sell -

Seller Profile 1

SELLER

Carousel Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Carousel Capital is a private investment group that invests in companies headquartered in the Southeast US. The Firm targets leveraged buyouts and recapitalizations of businesses in consumer products/services, business services, and healthcare services. Carousel will consider both the majority and minority situations. Prospective companies are generally valued up to $250 million and have at least $3 million of EBITDA. Carousel Capital was formed in 1996 and is based in Charlotte, North Carolina.


Deal Context for Seller #
Overall 17 of 21
Sector: Safety/Security 1 of 1
Type: Secondary Buyout 11 of 14
State: Georgia 1 of 1
Country: United States 17 of 21
Year: 2019 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-22 JHCC

Pike Road, Alabama, United States

JHCC provides auto body collision repair services. JHCC offers customers free and accurate computerized estimates, along with quality, guaranteed repair work utilizing I-CAR certified technicians. JHCC delivers its services while providing real-time information through its repair tracking system, enabling customers to monitor the status of their repairs. JHCC was founded in 1989 and is based in Pike Road, Alabama.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Landscape Workshop

Birmingham, Alabama, United States

Landscape Workshop is a provider of route-based commercial landscaping services, including landscape maintenance, irrigation services, seasonal color programs, design and installation, and facility services. Landscape Workshop was founded in 1984 and is based in Birmingham, Alabama.

Buy -