Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that it has completed the sale of Marmic Fire & Safety (Marmic), a full-service fire protection company located in Joplin, Missouri, to HGGC, a leading middle market private equity firm. In early February, the two sides entered into an agreement and have since closed the deal. Marmic CEO and founding family member, Michael Teeter, will continue to lead the business and will retain a substantial ownership stake in the Company. Terms of the transaction were not disclosed.
A third-generation family business, Marmic is one of the largest self-perform fire protection service companies in the country. The Company provides recurring inspection, test and maintenance services conforming to OSHA mandates, government codes, and NFPA standards across retail, medical, commercial and industrial end-markets.
Michael Teeter, CEO of Marmic, said, “We are very excited to partner with HGGC to build on the consistent growth we have achieved over the past decade. This company was founded by my grandparents, and it was very important to me to work with a firm that understands and appreciates what a family business really means. HGGC’s partnership approach made them a perfect fit to help us continue to identify and acquire other great fire protection companies to join the Marmic family. We thank TSCP for their supportive and collaborative partnership over the past two and a half years as we transformed the business through operational improvements and strategic M&A.”
Said Jeff Aiello, TSCP Managing Director, “Throughout our partnership with Marmic, we executed on a number of strategic initiatives to accelerate revenue growth, expand their geographic footprint across the United States and increase the Company’s operational efficiency. We are confident that the Marmic management team will continue to thrive and grow the company in their future partnership with HGGC.”