Burlington, ON July 31, 2024 / – Newlook Capital Inc. (“Newlook”) is pleased to announce that Newlook Capital Industrial Services Fund II (“Fund II”) and Newlook Capital Industrial and Infrastructure Services Fund III (“Fund III”) have recently completed the strategic sale of Integrated Fire and Security Solutions (“IFSS”), along with its subsidiary, Diversified Systems Inc. (“DSI”), to Fortis Fire & Safety Inc., a U.S.-based portfolio company of Imperial Capital Group Ltd.
Headquartered in Fort Myers, Florida with branches in Miami, Tampa, Orlando, Tallahassee, and Raleigh, North Carolina, IFSS and DSI provide life safety systems, including fire alarm, CCTV, and access control systems to customers in the commercial, financial, multi-residential, construction, correctional, educational, government, health care, aviation, and marine sectors.
Investment, Partnership and Growth:
• Investment: Newlook invested in IFSS June 2019 and IFSS acquired DSI in September 2021
• Partnership: Newlook’s team collaborated closely with owner/operators Justin and John Peterson and Jesus Carias (IFSS) as well as John Sartori (DSI) to drive revenue and EBITDA growth, expanding into multiple markets in Florida and North Carolina.
• Impressive Growth: Between 2019 and 2024, on a consolidated basis, revenue of IFSS tripled and EBITDA grew by a factor of 4.2x.
Performance and Returns:
• Successful Exit: Newlook and IFSS decided now was the optimal time for an exit after exceeding growth targets that attracted over 50 interested parties to the sale of IFSS and DSI.
• Return on Investment: The exit provides a significant return of capital to investors in Fund II, exemplifying the value Newlook delivers to its portfolio companies and investors. In addition, as previously announced, investors in Fund III that were unitholders of record on July 1, 2024, received a special distribution in the amount of $0.20 per unit.
ABOUT NEWLOOK CAPITAL INC.
Newlook Capital Inc. is a private equity firm that currently manages Newlook Dental Services Trust and Newlook Industrial and Infrastructure Services Fund I, II and III. Led by dedicated, experienced and aligned management teams, the firm’s current portfolio includes industrial services in Canada and the US and dental practices exclusively in Canada. Newlook Capital’s commitment to specialization and strategic alignment drives its success in identifying and nurturing opportunities within these sectors across North America. This press release is for information only and does not constitute, nor should it be construed as, an offer to sell or a solicitation to buy any securities. For more information, visit www.newlookcapital.com.
Please direct any questions or requests for information to:
Kyle Sinden
kyle@newlookcapital.com
519-550-6912
