Specialist private equity fund manager YFM Equity Partners (“YFM”) has backed the MBO of Checkmate Fire Solutions, a leading UK passive protection provider.
Checkmate Fire provides fully compliant services including survey, design, specification and installation of solutions for fire stopping/air sealing, compartmentation, fire boarding and structural steel protection. It also specialises in fire door surveying, restoration and installation, and provides a fully bespoke range of fire resistant glazing solutions.
Checkmate Fire has in recent years delivered “…significant revenue and profit growth…” said a statement. The management team is led by CEO Mark Williams and his board colleagues Dave Woffendin and Tomasz Wisniewski, supported by FD Alan Wilson and Chairman Simon Moate.
The company is now looking to invest further in sales and operations to accelerate growth across all areas of the business.
Checkmate Fire’s clients include the UK’s leading facilities management and construction companies, specifiers, building owners, facilities managers and landlords across a variety of sectors, including healthcare, social housing, hospitality, prisons and commercial property.
Investment Director at YFM Ian Waterfield: “Checkmate Fire has a strong reputation in this industry and has delivered consistent growth over the last few years. Its focus on building safety and compliance provides a positive backdrop for the Company to further develop its customer base and expand its geographic reach in the UK.
“This is the fifth investment from YFM’s latest fund, which closed in April 2017 with the aim of investing in well-established UK businesses and supporting management teams in delivering their ambitious growth plans.”
CEO at Checkmate Fire Mark Williams said: “Checkmate is seeing unprecedented levels of demand for its services. We are delighted with both YFM’s investment and the expertise the team will provide. We are looking forward to working closely with YFM to enable us to deliver our growth plans and reach the Company’s true potential.”
Checkmate Fire was advised by Alison Palmer of Eaton Smith and Martin Holden of Saffery Champness. Legal advice to YFM was provided by Dahren Naidoo of Freeths LLP, financial due diligence was carried out by Jeff Gardner of DSW Transaction Services and Russ Cahill of Tax Advisory Partnership, commercial due diligence by CIL, and organisational due diligence by Anna Cornwallis of Stratton HR. Santander Growth Capital team, led by Ash Chopra and Dan Houman, provided debt finance and were advised by Georgina Tripp of Gunnercooke. The exiting shareholder was advised by Gary Black of Freeman Fisher.