Brown Gibbons Lang & Company (BGL) is pleased to announce the divestiture of the FireKing Office & Consumer Products Division (FireKing OCP) of FK Safety and Security, L.L.C., to Champlain Capital Partners (Champlain). BGL’s Industrials team served as the exclusive financial advisor to FireKing OCP in the transaction. FK Safety and Security, L.L.C., a portfolio company of Pfingsten Partners, has retained the assets of FireKing’s Security Products and Services Divisions.
The transaction also included the sale-leaseback of a 110,000 square foot, NNN-leased manufacturing facility in New Albany, Indiana that was owned by Fire King International, LLC, a subsidiary of FK Safety and Security, L.L.C. BGL’s Real Estate Advisors team represented Pfingsten Partners in the sale-leaseback component of the deal.
The specific terms of both the operating company and sale-leaseback transactions were not disclosed.
FireKing OCP is the #1 designer and manufacturer of fireproof, impact-resistant, and secure document and data storage systems. The company’s products provide the highest level of protection from fire, explosion, impact, theft, and water and are used to comply with regulations and protect critical documents, records, backup storage media, and other items in the medical, financial services, legal, education, municipal, government, and other sectors.
Gary Weisman, President of FireKing OCP, said, “BGL did an exceptional job understanding our business and identifying a strong partner in Champlain Capital to support the future growth of our business and brand.” Andrew K. Petryk, BGL’s Head of Industrials, said, “FireKing’s OCP Division enjoys a leadership position in a very unique market, and we expect the company to accelerate its growth trajectory.”