Corbett Technology Solutions Inc. (CTSI), a portfolio company of Wind Point Partners, announced it has acquired AFA Protective Systems Inc., an integrator specializing in the design, installation, and service of fire and security systems.
AFA was founded in 1873. The Kleinman family acquired a controlling interest in AFA in 1968, and over the past 50 years developed it into a fire and security monitoring, service, and integration firm across the eastern United States. Today, AFA services over 28,000 customers throughout the East Coast via 17 branch locations with national account coverage throughout the United States.
Headquartered in Chantilly, Va., CTSI designs, engineers, installs, and maintains highly engineered nurse call, audiovisual, conferencing, collaboration, sound, fire, security, and communication systems. CTSI serves thousands of private, public, and institutional clients.
“We are extremely excited to have AFA join the CTSI family,” said Joe Oliveri, CTSI president and CEO. “AFA’s team has established a world-class business with a renowned reputation that has flourished over a half century under the ownership of the Kleinman family. We look forward to further supporting AFA’s best-in-class service offerings using our increased scale to provide opportunities for both customers and employees alike.”
Nathan Brown, Wind Point managing director, added, “AFA is a transformational addition to the CTSI platform. The combined business forms a best-in-class fire, security, nurse call, and design-build audio visual platform with capabilities to service any highly engineered low voltage needs. The AFA brand is synonymous with excellence and the combination with CTSI will benefit all stakeholders across both companies.”
Robert Kleinman, AFA’s chairman and CEO, commented, “This transaction is a win for all parties. CTSI’s added resources and similar services, combined with the geographical fit and customer relationships of both companies, should open new opportunities to deliver AFA’s capabilities to an even broader audience of customers. In turn, CTSI will be able to provide enhanced offerings to AFA’s existing account base, as well as new opportunities for many individuals across AFA’s team. Finally, we are confident that we have maximized the return to our shareholders, most of whom have been with and supported us for many decades.”
“We are excited about AFA joining with Joe Oliveri and the CTSI team.” added Richard Kleinman, AFA’s president and chief operating officer. “By the companies working together, we will each be able to offer our customers an enhanced list of services. Also very important to us was that CTSI recognized the importance of AFA's legacy as the country's oldest surviving central station alarm company, our commitment to codes and standards complying systems, and CTSI’s desire to preserve that legacy by keeping the AFA corporate entity intact. We believe this deal is good for AFA's customers, its employees, and its shareholders.”
AFA represents the fourth acquisition for CTSI since partnering with Wind Point in June 2020. CTSI’s acquisition strategy will continue to focus on acquiring leading life safety, security, nurse call, collaboration, and communication solution providers with complementary employee-focused cultures and a trusted commitment to customers.
Mesirow acted as financial advisor to AFA. Winston & Strawn LLP served as legal counsel to CTSI and Killeen Law served as legal counsel to AFA.
CTSI ranked 32nd on the 2021 SDM 100; AFA ranked 17th.