Sciens Announces Majority Investment from Carlyle
November 10 2021 - 9:00AM
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.
About Sciens Building SolutionsHeadquartered in San
Francisco, California, Sciens Building Solutions is a company
focused on the fire detection and security services sector. This
includes 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. The Company’s daily mission is simple: save lives and
protect property. For more information, please
visit: www.sciensbuildingsolutions.com.
About CarlyleCarlyle (NASDAQ: CG) is a global
investment firm with deep industry expertise that deploys private
capital across three business segments: Global Private Equity,
Global Credit and Global Investment Solutions. With $293 billion of
assets under management as of September 30, 2021, Carlyle’s purpose
is to invest wisely and create value on behalf of its investors,
portfolio companies and the communities in which we live and
invest. Carlyle employs more than 1,800 people in 26 offices across
five continents. Further information is available at
www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Huron CapitalFounded in Detroit in 1999, Huron Capital is
an operationally focused private equity platform with a long
history of growing lower middle-market companies through our
proprietary ExecFactor® buy-and-build investment model. We prefer
complex situations where we can help companies reach their full
potential by combining our operational approach, substantial
capital base, and transaction experience with seasoned operating
executives. An early pioneer of the buy-and-build approach, Huron
Capital has successfully established six private equity funds
aggregating nearly $2.0 billion in committed capital and invested
in over 220 companies, and our portfolio companies have employed
over 11,000 people throughout North America. The Huron Capital
buy-and-build investment model includes equity recapitalizations,
family succession transactions, market-entry strategies, corporate
carve-outs, and management buyouts of companies having revenues up
to $200 million. Huron Capital targets both control and non-control
equity stakes in fundamentally sound companies that can benefit
from the firm’s operational approach to creating value. Huron
Capital focuses on niche segments within commercial &
industrial services, professional services, and the consumer
services sectors. For more information, please
visit: www.huroncapital.com.
CarlyleBrittany Berliner+1 (212)
813-4839brittany.berliner@carlyle.com
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