MIAMI, FL – (February 28, 2008) Trivest Partners (“Trivest”) today announced that its affiliate, Allegiance Security Group, LLC (“Allegiance”), has acquired Fox Protective Services, Inc. (“Fox” or the “Company”). Fox provides security guard services exclusively throughout the state of Florida. Trivest acquired Fox directly from the Company’s founder, Brian K. Fox.
Fox operates four branch offices in Tampa, Jacksonville, Orlando and West Palm Beach. The Company provides guard services to a diversified list of over 180 customers comprised of industrial sites and universities, state and local government, gated communities and office parks.
Jim Stevens, CEO of Allegiance said, “We are very excited about the addition of Fox to the Allegiance platform. This acquisition gives Allegiance the scale to aggressively pursue larger customer accounts. We are very excited about the growth prospects for Fox and look forward to the Company’s continued success.”
Jamie Elias, Trivest Partner and Allegiance’s Chairman stated, “The Fox transaction represents the third add-on acquisition since Trivest’s initial platform investment in March 2007. This transaction fits nicely within our strategy of acquiring well-run, growing guard businesses that expand and/or augment Allegiance’s geographic footprint. With Fox’s strong customer relationships and growth prospects, Allegiance is now a major player in the Southeast security guard industry.”
Under the Allegiance platform, Trivest intends to build one of the largest privately-held security businesses in the United States through organic growth and strategic add-on acquisitions. The security services industry is fragmented with over 15,000 businesses in the United States alone.
Trivest Partners, L.P., a private investment firm, is a leading provider of equity for lower middle-market corporate acquisitions, recapitalizations and growth capital financings. Since its founding in 1981, Trivest has sponsored more than 140 acquisitions and recapitalizations, totaling more than $3.5 billion in value. For more information, please visit www.trivest.com.
