CMG advises Barrier Companies in its recapitalization alongside Lincolnshire Management and Veronis Suhler Stevenson

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April 16, 2021

Southport, CT

Carter Morse & Goodrich (“CMG”) is pleased to announce that it served as the exclusive financial advisor to Barrier Companies, and its affiliates Barrier Technologies and Barrier Compliance Services (“Barrier” or the “Company”) in its recapitalization with Lincolnshire Management Inc.(“LMI”), a private equity firm based in New York City and VSS Capital Partners (“VSS”), a private investment firm also based in New York.  The management team of Barrier will continue to run the day-to-day operations and will retain a significant equity stake in the business. Terms of the transaction were not disclosed.

Founded in 2008 and based in Lenexa, Kansas, Barrier is a leading national fire & life safety (“FLS”) and containment services provider with two key business lines - compliance services and new build services. The Company’s specializes in preventing the spread of fire, smoke, sound, water, and infection in high-value buildings, primarily serving healthcare facilities and data centers. Barrier’s services – ranging from inspections, repairs, assessments, installation, planning and code compliance support – are critical to remain in compliance with strict codes and standards.  Barrier employs over 150 professionals from four regional offices spread between Kansas, Colorado, Nebraska and Texas.

Having grown the Company rapidly since its inception, the owners were seeking a strong equity partner to provide liquidity and support the Company’s continued growth. “We were careful in selecting a partner that aligned with our culture, values and vision for the future,” said Kirk Kaiser, Co-Owner of Barrier. “By conducting a disciplined process, CMG was able to generate considerable interest in Barrier allowing us to evaluate several options and ultimately helped us strike this new partnership with LMI and VSS.” Jaye Sieland and Michael Haverty, Co-Owners of Barrier, further stated, “LMI and VSS are the ideal partners to help catalyze the next chapter of growth for Barrier through further organic growth and acquisitions.”

Terence Hannafin, Managing Director at CMG, added, “It was truly a pleasure to work with the Barrier team throughout this unique and exciting transaction from start to finish. Through COVID, we pivoted, stayed patient and ran a disciplined process to generate a truly terrific outcome for the Company and the owners. We are excited to see where this new ownership group can take Barrier for its next chapter.”

Other transaction advisors for Barrier included Seigfreid Bingham, P.C. who served as Barrier’s legal counsel and UHY LLP, who provided the quality of earnings report. The transaction was managed by CMG’s FINRA registered broker-dealer affiliate, Carter Capital Corporation.

About Carter Morse & Goodrich:

Located in Southport, Connecticut, Carter Morse & Goodrich is a boutique M&A advisory firm that specializes in representing founder-led and family-held businesses valued between $20 million and $200 million. CMG specializes in helping owners of leading companies in niche markets to plan, prepare, execute, and close successful transactions that maximize shareholder value. We fully understand and appreciate the unique dynamics of closely-held businesses and the importance of legacies. While CMG provides a full range of investment banking services such as business sales and divestitures, equity and debt capital raises, acquisition services and pre-transaction advisory services, our primary focus is representing sellers who are pursuing their once-in-a-lifetime M&A transactions. For more than 30 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners. For more information, visit us at www.cartermorse.com.

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