SAN FRANCISCO, Dec. 6, 2022 — Rapid Fire Safety & Security (“Rapid Fire”), a new multi-regional “Buy & Build” strategy in the fire safety and security industries launched by founders Mike McLeod and Colin Harrold in partnership with Concentric Equity Partners (“CEP”), announced the acquisition of Pacific Auxiliary Fire Alarm Company (PAFA), a San Francisco, CA-based provider of commercial fire alarm system design, installation, testing, inspection, maintenance, repair, and monitoring services. Rapid Fire is acquiring PAFA from third generation owner Derek Shackley, who will remain with the Company in a leadership role moving forward. PAFA represents the second acquisition for the Rapid Fire platform since its founding in March 2022 and expands the platform into the West Coast region.
PAFA is one of the oldest fire alarm companies on the west coast and has a history of innovation and leadership in its addressable Market. The Company was instrumental in the construction and development of San Francisco’s extensive street call fire alert system, and also designed and commissioned the first occupant evacuation elevators in the world in 2017. Founded in 1889, PAFA was acquired by Doug Shackley in 1974. Doug’s son Derek grew up in the business and assumed control and ownership in 2008.
PAFA is recognized for its expertise and experience in fire alarm system construction and repair and prides itself on its depth of technical knowledge and engineering capabilities. The Company services nearly every type of fire alarm equipment for commercial, multi-family, and government customers in the San Francisco Bay Area and is trusted to work on major, high profile projects such as the Chase Center and Mission Rock Waterfront. All PAFA employees will remain with the Company post-close and establish a foundational presence for Rapid Fire in the Northern California market.
“It became clear to me that I needed some help to take PAFA to the next level. In searching for a partner, I wanted someone that would understand both the installation and service aspects of our company to be able to support and grow the whole business. After meeting Mike McLeod and the Rapid Fire team, their commitment to supporting our employees and customers was evident from the beginning and will give us the strength and support to grow into the future. The advantages, resources, and technology that a partner like Rapid Fire can bring to a local company like PAFA will be a game changer. It was a very difficult decision to sell my company but choosing Rapid Fire as my partner was an easy choice,” said Derek Shackley.
“The long tradition that PAFA has for delivering outstanding fire life safety systems and services, along with their “people-first” culture, makes them an ideal fit for us” said Rapid Fire CEO Mike McLeod. “We’re thrilled to partner with Derek and his team and excited to continue building upon the Company’s strong foundation.” Colin Harrold, Co-Founder at Rapid Fire, said “It’s not often in this fast moving business life that we have the opportunity to say that we are excited, proud and humbled to be part of a company that has successfully been in business for over 130 years. Thank you to the founders and the great people who have carried PAFA’s legacy forward”.
“PAFA’s technical knowledge and reputation for top customer service made it an ideal partner and building block for the Rapid Fire platform,” adds Adam Lucas of Concentric Equity Partners. “The Company represents an excellent opportunity to enter the attractive Northern California market and build a strong and growing presence on the West Coast”.
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About Pacific Auxiliary Fire Alarm Company
Pacific Auxiliary Fire Alarm Co. was founded in 1889 and is one of the oldest fire alarm companies in the West Coast. PAFA provides the very best in service for a wide range of customers and types of systems from the small apartment owner, to commercial buildings; servicing almost every brand of fire alarm equipment. We are committed to provide honest service, reasonable prices, and getting equipment and parts, when still available, from most manufacturers. Our staff is knowledgeable when it comes to the various building and fire codes and provides information and prices that PAFA honestly feels will provide its customers with systems that will meet and/or exceed these codes, at the greatest value. PAFA was there to “answer the call” for the City of San Francisco in 1889, we’re here today to “answer the call” for you, and we’ll be here well into the future to “answer the call” when ever we’re needed. To learn more visit www.pafa.com .
About RapidFire Safety & Security
RapidFire Safety & Security, founded in 2021, is a rapidly growing fire safety and security provider. The company provides a full suite of fire, safety and security services to the commercial sector. RapidFire is committed to a buy and build growth strategy in the Southwestern United States. The company is interested in developed fire safety & security companies with a high degree of integrity, customer service and employee retention.
About Concentric Equity Partners:
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm with over $2 billion in middle market investment commitments. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans. To learn more visit www.ficcep.com.
