Paris, 6 October 2020 – Apax Partners announces the sale of its participation in SK FireSafety Group to APi Group Corporation (NYSE:APG), a market-leading business services provider of safety, specialty and industrial services in over 200 locations, primarily in North America and with an expanding platform in Europe.
SK FireSafety Group is a European specialist offering critical safety products and solutions in the active fire safety market.
When Apax Partners invested in SK FireSafety in 2014, the company was offering first intervention solutions, fire detection and suppression solutions, as well as Oil & Gas and aero safety products and services.
Apax Partners actively supported the management team with their growth and consolidation strategy to reinforce its local leadership in Benelux and Scandinavia, and expand and automate its service offering in order to become the Nordic leader in the sale and maintenance of active safety solutions, known to be critical in the first fifteen minutes of an emergency. In January 2019, SK FireSafety had sold its AeroSafety division to refocus on its core fire safety business.
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with an investment portfolio of more than €1bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.
Altamir's investment policy is to invest via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and larger companies in Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as a SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Claire Peyssard Moses
Tel.: +33 1 53 65 01 74