ASHLAND,
Mass., July 2, 2024 /PRNewswire/ --
Kidde-Fenwal, Inc. (KFI), a world leader in
designing and manufacturing industrial and commercial fire
suppression systems and safety controls, has closed on the sale of
substantially all of its assets to an affiliate of Pacific Avenue
Capital Partners (PACP). The transaction was previously approved by
the United States Bankruptcy Court for the District of Delaware on April 2,
2024. Under PACP's ownership, the business will go to market
as "KiddeFenwal".
KFI was a separate corporation that operated independently
from its ultimate corporate parent, Carrier Global
Corporation. There is no affiliation with the ongoing sale of
Carrier Global's Commercial and Residential Fire
business.
The sale of KFI was led by its independent directors and
their advisors.
About KiddeFenwal
KiddeFenwal is the global market leader in designing and
manufacturing innovative industrial and commercial fire suppression
systems and safety controls with proprietary, fully certified
offerings that save lives, protect property and minimize business
interruption. The company's Kidde Fire Systems and Kidde Fire
Protection brands produce highly engineered fire suppression,
detection and control systems in the industrial, commercial and
marine end markets, while Fenwal Controls serves OEMs in diverse
end markets with products for gas ignition, temperature control,
and fire and overheat detection. KiddeFenwal is headquartered in
Ashland, Massachusetts and has
facilities in the U.S., United
Kingdom and India. Learn
more at
www.kiddefenwal.com.
KFI's Advisors
Guggenheim Securities, LLC acted as KFI's investment
banker. Sullivan & Cromwell LLP acted as KFI's legal advisor.
AP Services, LLC, an affiliate of AlixPartners, LLP, served as
KFI's restructuring advisor, acting in interim officer roles of
Chief and Deputy Transformation Officers, Secretary and
Treasurer.
Contact
Tucker Elcock
Teneo
Tucker.Elcock@teneo.com
917-208-4652
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SOURCE Kidde-Fenwal, Inc.