MHA | Disposal of Ace Fire & Security to HIG Capital platform,…

Disposal of Ace Fire & Security to HIG Capital platform, andwis. group

August 23rd 2023
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MHA Corporate Finance (“MHA”) advised the shareholders of Ace Fire & Security (“Ace”) on its sale to the andwis. group of companies, a technical building services consolidation platform backed by lead investor, H.I.G. Capital.

Founded in 1990, Ace offers fire protection, security system integration, monitoring and maintenance to clients across commercial, industrial, and public sectors. MHA acted as lead advisor to the shareholders of Ace’s parent company to negotiate and manage the delivery of the transaction.

Ace joins the andwis. group of companies as the cornerstone of its fire protection division, as andwis. group and H.I.G. Capital progress their strategy to build an industry-leading diversified specialist technical building service group since its launch in March 2023.

Joining forces with andwis. group brings significant commercial opportunities for Ace to continue to expand its customer base across existing and new markets, and enhanced development opportunities for the team.

Jonathan Simpson-Dent, Chair of the andwis. group, said:

“We are deeply committed to equipping our clients with safe, sustainable buildings that protect people and productivity. Ace provides a platform in Fire Protection services as we continue to build and expand the andwis group into a truly unique multi-service offering delivered through direct best-in-class networks.”

Darren Gibbons, continuing in his role as Managing Director of Ace commented:

“We are delighted to join the andwis. group, enabling us to expand our service offering to our clients while partnering with the other group companies to extend our geographic and technological reach.”

James Lawson
, MHA Corporate Finance lead advisory M&A partner remarked:

“Having acted for the shareholders over several years in preparation for an exit, it is pleasing to see the culmination of our work as Ace becomes the fire protection pillar of andwis group.; a testament in its self to the strength and depth of the business the Ace team has built so ably. It has been a pleasure to advise the team, and we are excited to see the continuing management and business flourish as part of the andwis. group”

Outgoing Chair of Ace, Brian Thorogood remarked in respect of the MHA Corporate Finance team:

“Selecting a corporate finance team should be undertaken with care, following a rigorous vetting process, given you will spend a lot of time with them, often at points of high stress. We got our decision absolutely right when we picked MHA, they provided superb advice and guidance, often bringing a creative approach to confidently steer negotiations to a conclusion. Their support and guidance were first rate, and they increased our expected deal proceeds substantially. Simply brilliant.”

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