BIP, Endeavor name new operating partner
Building Industry Partners (BIP) announced that Steve Shaffer has joined the private equity investment firm as an operating partner.
Shaffer will help support BIP and its recently launched Endeavor Fire Protection safety platform.
Endeavor offers installation, service, and repair services for fire sprinkler and plumbing systems and plans to rapidly expand its national footprint, the company said.
The new operating partner joins BIP and Endeavor from Impact Fire Services (currently operating as AI Fire Protection), the company he founded and served as president and chairman.
Shaffer led Impact Fire Services from a start-up company in 2009 to $70 million in revenue in 2017.
“Steve is a proven operator and has demonstrated the ability to meaningfully scale platforms, building local providers into national platforms – from GFP to Consolidated Fire Protection to Impact Fire Services,” Robert Lane, vice president of BIP and director at Endeavor Fire Protection said.
Lane noted that over the past 20 years, Shaffer successfully built and sold three fire protection platforms.
“I am excited to partner with Building Industry Partners in building a premier fire and life safety company,” Shaffer said. As the leading private equity firm focused on the U.S. building industry, and with their focus on investing in their business’ people and advancing human capital management, BIP is perfectly situated to understand the unique opportunities and challenges of building trade companies, which are by definition people-intensive.”
Endeavor was officially launched last week following the acquisition of Valley Fire Protection, which served the greater Chicago market.
BIP is headquartered in Boston, with operating partners and advisors across the United States.
Over the past 14 years, BIP is proud to have co-founded or been the first equity sponsor of a number of the fastest growing businesses in the U.S. building industry’s middle market, including U.S. LBM Holdings, Kodiak Building Partners, Homewood Holdings, and U.S. Fence Solutions/Binford Supply.
