Investment in Fire Product Distribution Company
Third For Behrman Capital’s New $518 Million Buyout Fund
December 3, 1998
Behrman Capital, a private investment firm focusing on emerging growth companies, today announced that it has become the majority shareholder of Brooks Equipment Company, Inc. (“Brooks”), the premier wholesale distributor of industrial fire protection equipment for the first response segment of the fire protection industry.
Founded over 55 years ago in San Francisco and relocated to Charlotte, North Carolina in 1970, Brooks has a long history as a market leader in a recession-resistant industry. Via its 20 distribution centers located throughout the United States, Brooks provides inventory outsourcing services and just-in-time availability for a wide range of equipment, parts, and supplies.
This transaction, which has a total value of $70 million, marks the third equity investment for Behrman Capital II L.P. The fund closed in January 1998 with total committed capital of $518 million.
“We are very pleased with the partnership we are announcing today,” said Richard Fairclough, President of Brooks. “We look forward to working closely with Behrman Capital, which has invaluable financial and operating expertise, as we continue to focus on serving the needs of our current customers, adding new products to our distribution network and pursuing new business opportunities.”
Grant G. Behrman, a Managing Partner of Behrman Capital stated, “We are extremely pleased with this investment. Brooks has a long record of consistently strong financial performance and growth and is a well-entrenched market leader. Our investment in Brooks reflects our tremendous confidence in its competitive position, its operational strength, its outstanding management team, and its proven growth strategy.”
Behrman Capital invests in management buyouts of growth companies focused on the health care, outsourced manufacturing, and information technology industries, as well as special situations. The firm also provides expansion capital to emerging growth companies, principally in the health care and high technology industries.
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Darryl G. and Grant G. Behrman. The firm currently has a combined capital base exceeding $640 million.