News

Private equity firm acquires fire protection specialist after deal acted on by HCR

14th March 2024

Leading European private equity firm IK Partners has acquired passive fire protection specialist Checkmate Fire following a deal acted on by Harrison Clark Rickerbys’ (HCR) Corporate team.

The deal, which saw the team working well into the early hours of the morning, has furthered London-based IK Partners’ strategic focus on supporting businesses within the fire protection market and foster high-quality providers in critical service sectors.

The deal also enhances West Yorkshire-based Checkmate Fire’s ability to continue to develop its passive fire offering. Passive fire protection is a system which compartmentalises a building through the use of fire-resistant walls, doors and floors to help slow and prevent the spread of fire or smoke. The acquisition by IK Partners is expected to broaden the company’s reach and capabilities in the market.

Richard Wilkey, Head of National and London Corporate teams, who led on the investment deal, said: “This is a timely acquisition for IK Partners – the fire protection landscape is changing, with regulations being updated and the importance of enhanced safety standards often at the forefront of news and public debate.

“I’m delighted for IK Partners and the role we played acting for them, especially in  helping bring them together with Checkmate – I wish them a long and successful partnership.”

The deal comes shortly after the firm’s second-place ranking across the UK for merger and acquisition deals.