Keystone Capital, Inc. (“Keystone”) is pleased to announce that it has completed the acquisition of Kidde Fire Trainers (“KFT” or “the Company”), a business unit of United Technologies Corporation’s Building & Industrial Systems Group. Terms of the transaction are not being disclosed.
KFT is the world leader in the design, installation and service of live fire training simulators and related technologies. The Company provides critical fire training technologies to fire academies, municipalities, governments, and industrial customers on a global basis. KFT’s industry leading products are installed in locations throughout the world. KFT is headquartered in Montvale, NJ with global offices located in Barlborough, United Kingdom and Aachen, Germany. For more information on KFT, please visit the Company’s website at www.kiddefiretrainers.com.
“The KFT transaction is a perfect fit with Keystone’s investment criteria – a market leader with a great brand, a solid management team, and opportunities for growth and value creation under our stewardship,” commented Scott Gwilliam, Managing Director of Keystone Capital. “We were glad to have worked with United Technologies on this important transaction, and look forward to working with the KFT management team to build a strong standalone business.”
All management and employees of KFT will be retained in the transaction, and the operations of the Company will be unchanged. “The most important benefit of this transaction from our perspective is our new ability to operate as a standalone business focused on nothing but fire training simulators,” commented Rob Lane, the newly-appointed CEO of Kidde Fire Trainers. “We are energized and excited by the idea of working with Keystone and leveraging their extensive experience with corporate divestitures such as this.”
Terms of the transaction are not being disclosed. Senior debt financing was provided by The Private Bank, and legal counsel was provided to Keystone by Kirkland & Ellis LLP.
Jason Van Zant