NEW YORK – Lincolnshire Management, Inc. (“Lincolnshire”), a private equity firm, founded in 1986, and focused on investing in and growing middle market companies across an array of industries, today announced the acquisition of Barrier Companies (“Barrier” or the “Company”), a leading provider of fire and life safety compliance and containment services. The management team of Barrier, led by current owners, Kirk Kaiser, Jaye Sieland, and Michael Haverty, will continue to run the day-to-day operations and will retain significant equity stakes in the business. Financial terms of the private transaction were not disclosed.
Founded in 2008 and headquartered in Lenexa, Kansas, Barrier is comprised of Barrier Compliance Services, LLC and Barrier Technologies, LLC, and competes within a $26 billion compliance services market and new build market. The company specializes in fire safety, primarily serving healthcare facilities. Barrier offers inspections and repairs for fire and smoke doors, fire dampers, fire barriers, and other complementary services. The company’s new build division has grown nationally and includes operations in Denver, Dallas, Omaha, Des Moines, and Kansas City, and will continue to explore new, strategic markets for operation.
“We have been looking at fire and life safety service space for some time and believe we have found an exceptional platform company and team to back,” said TJ Maloney, Chairman and CEO of Lincolnshire Management.
“We are excited to back such a dynamic team that has demonstrated their proficiency in driving growth and who are well-positioned to pursue and integrate acquisitions,” said Phil Kim, a Managing Director at Lincolnshire Management. David MacDonald, a Principal at Lincolnshire Management, added, “We believe Barrier’s growing footprint in all 50 states, coupled with the company’s strong channel partner relationships, will enable the business to further scale while remaining committed to the quality execution its customers have come to expect.”
The compliance services market for healthcare facilities is driven by strict regulatory requirements. Given the potential consequences of non-compliance, and in light of increasing government scrutiny, hospitals’ demand for specialists like Barrier is expected to accelerate as repairs needed to maintain compliance are beyond the scope of smaller, local providers.
“The specialist compliance services market is large and fragmented, particularly in the healthcare space, and we are seeing increased growth opportunities to capitalize on as hospitals are seeking more sophisticated vendors to meet their critical fire and life safety needs,” said Kirk Kaiser at Barrier. “Partnering with Lincolnshire will allow us to grow our network and enhance our critical service offerings with a dedicated focus on meeting and exceeding the needs of our customers.”
The deal team was led by Managing Director, Phil Kim, and the team included John Comino, David MacDonald, Matt Nacier and Yashna Ginodia.
Lincolnshire has deep experience in the business services sector, having made investments in companies including, most recently, Powerhouse Retail Services and Dentco.
PricewaterhouseCoopers LLP served as exclusive financial advisor, and Finn Dixon & Herling LLP served as exclusive legal advisor to Lincolnshire. Carter Morse & Goodrich served as financial advisor to Barrier.
About Lincolnshire Management, Inc.
Lincolnshire Management Inc., founded in 1986, is a private equity firm focused on investing in and acquiring growing middle market companies across an array of specific industries. Headquartered in New York, Lincolnshire Management invests in acquisitions of private companies, recapitalizations, corporate divestitures, management buyouts and growth equity for public and private companies. Lincolnshire Management manages over $1.7 billion of private equity capital. For more information: www.lincolnshiremgmt.com.
About Barrier Companies
Barrier Companies, founded in 2008, is a leading fire and life safety (“FLS”) and containment services provider. Headquartered in Lenexa, KS, Barrier is a national provider specializing in inspections and preventing the spread of fire, smoke, sound, water, and infection in buildings. Rapidly changing building codes, increased enforcement, and severe increases in liability have created a difficult environment for facility managers, building owners, general contractors, and designers. Barrier provides a multitude of solutions for our customers to navigate through this complex environment.