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ADIA and GIC take minority stakes in commercial fire protection firm Pye-Barker
As part of the transaction, Pyer-Baker's existing backer Leonard Green & Partners invested significant new capital into Pye-Barker while existing backer Altas Partners retained the majority of its ownership stake.
10 January 2025
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Aayush Sood
ADIA was established in 1976 and GIC was formed in 1981
GIC is a manager of Singapore’s foreign reserves
Abu Dhabi Investment Authority and GIC have taken minority stakes in Pye-Barker, an Atlanta-based company providing commercial fire protection services. Financial details were not disclosed.
As part of the deal, Pye-Barker’s current supporter Leonard Green & Partners invested significant new capital into the company, while existing supporter Altas Partners kept the majority of its ownership stake.
“We are excited about entering our next phase of growth with our longstanding and exceptional partners in Altas and LGP, as well as with our new investors ADIA and GIC who share our common vision,” said Bart Proctor, CEO of Pye-Barker in a statement. “Pye-Barker is fortunate to have experienced rapid growth due to the hard work, innovation, and entrepreneurial spirit of our people.”
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Harris Williams was the primary financial advisor for Pye-Barker. Financial advice for the transaction was also provided by Bank of America, Deutsche Bank, Goldman Sachs & Co., Jefferies, and Piper Sandler. Latham & Watkins LLP served as legal advisor to LGP, while Kirkland & Ellis LLP served as legal advisor to Pye-Barker and Altas. Dechert LLP was the legal advisor for GIC, and Cleary Gottlieb Steen & Hamilton LLP advised ADIA.
This transaction builds on earlier Capitalor's reports regarding Pye-Barker. Last summer, sources informed The Capitalor that LGP and Altas planned to initiate a marketing process to assess buyout interest in Pye-Barker. By last fall, sources indicated to The Capitalor that LGP and Altas had moved bidders to the second stage of a sale process for Pye-Barker.
ADIA was established in 1976 while GIC was formed in 1981.
GIC is a manager of Singapore’s foreign reserves.
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