Blackstone (BX) has acquired AI Fire from private equity firm TruArc Partners for around $1.1 billion including assumed debt, Bloomberg reported Friday, citing people with knowledge of the matter.
TruArc, which bought privately-held AI Fire in March 2021 and grew the commercial fire and safety equipment company through nearly two dozen add-on acquisitions, said it completed the deal without identifying the buyer or terms of the sale. TruArc retained an undisclosed stake in AI Fire, it said.
Blackstone and TruArc did not immediately return a message from MT Newswires seeking comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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