AE Industrial Partners-Backed Altus Fire and Life Safety Acquires Priority Fire and Security, Inc.

Ninth Strategic Acquisition by Altus Builds on Platform's Presence in the Northeast

NEW YORK, June 1, 2023 /PRNewswire/ -- Altus Fire and Life Safety ("Altus"), a full-service fire and life safety platform, announced today it has acquired Priority Fire and Security, Inc. ("Priority Fire" or the "Company"), a provider of design, installation, monitoring, maintenance and repair services for fire and security systems in locations across Massachusetts. Priority Fire Founder and President Steve Prior will maintain an active role at the Company going forward. Terms of the transaction were not disclosed.

Established in May 2021, Altus is a full-service fire and life safety services platform owned by AE Industrial Partners, LP ("AEI"), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. The platform currently consists of nine brands including Adcock's Systems, Alarm & Suppression, BK Systems, Croker Fire Drill, Cross-Fire & Security, Fire Systems, Northeast Fire Systems, Crime Intervention Alarm and Priority Fire and Security.

Based in Clinton, MA, Priority Fire has been a founder-owned and operated business serving commercial customers across the Greater Boston region since 2013. As a Honeywell Elite Partner, the Company specializes in the sale, installation, testing, monitoring and service of fire detection, protection and mitigation systems, including alarm, sprinkler and pump systems. The Company also offers security products including CCTV, commercial and residential security, and access control.

"The addition of Priority Fire brings strategic advantages in both aligning with our focus on Honeywell engineered systems and expanding our service capabilities in the Northeast," said John Adams, Altus CEO. "This marks Altus's second addition in the past month following our acquisition of CIA, and we're pleased to welcome Steve and the outstanding Priority Fire team as we continue to become one of the leading consolidators in the fire and safety industry."

"We're excited to partner with Altus and AEI, who have the deep industry experience and relationships to help us build greater value in our business going forward," said Mr. Prior. "Priority Fire remains committed to the safety and security of our customers, and we look forward to working with the entire Altus team to continue delivering the products and services they demand."

About Altus
Serving customers for more than 100 years, Altus is a full-service fire and life safety services platform. Altus offers a complete suite of solutions, from the design, engineering, installation, and servicing of state-of-the-art fire and life safety systems to training, consulting, crisis management and business continuity services. The platform currently consists of nine brands including Adcock's Systems, Alarm & Suppression, BK Systems, Croker Fire Drill, Cross-Fire & Security, Fire Systems, Inc, Northeast Fire Systems, Crime Intervention Alarm and Priority Fire and Security. For more information on Altus, please visit www.altusfire.com.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

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SOURCE AE Industrial Partners