The Scutum Group has acquired a controlling interest in High Rise Fire and Security, a fire alarm and life safety solutions provider in New York. FODIS served as the exclusive financial advisor to The Scutum Group.
High Rise Fire and Security services more than 1,900 high rise buildings, and its 130 employees are working on developing comprehensive and cost-effective solutions customized to fit customers’ building or facility needs, while responding to New York’s strict building codes and requirements. High Rise Fire and Security utilizes central station facilities approved by the New York City Fire Department to monitor commercial fire alarm systems in the city.
The Scutum Group, based in Paris, is an international provider of advanced electronic surveillance and security services and products for the security, safety, defense and fire protection sectors. Prior to this acquisition, Scutum had operations in France, the UK, Germany and the Benelux. It was a strategic priority for Scutum to enter the U.S. market, according to the company.
“The integration of High Rise Fire and Security into our group marks an important milestone in our development as we continue to expand our activities internationally,” said Franck Namy, Scutum Group CEO. “High Rise Fire and Security brings a wealth of expertise, including fire detection, remote monitoring and security, and is recognized as the best in the New York region. This reinforces our ability to provide customers with optimal solutions, while accelerating synergies around digital security and fire services. The team at FODIS worked closely with the Scutum team to identify, evaluate and implement the acquisition of High Rise, thereby assisting our group in this important growth initiative.”
“FODIS is focused on serving the unique needs of family owned businesses and family offices and is pleased to have assisted Scutum in its search for a U.S. growth platform,” said Richard deNey, FODIS senior managing director. “FODIS utilized its proprietary database of 60,000 privately owned companies to identify several promising acquisition candidates and is very happy to have helped Scutum conclude a transaction with High Rise, a leader in the single largest fire and security services market in the U.S. We look forward to assisting Scutum as it continues to grow its footprint in the U.S. market.”
Scutum was also advised by the law firm of Baker Hostetler and the accounting firm BDO.