Fortitude Investment Partners has completed the second deal from its flagship fund, targeting a sector valued for its resilient and defensive earnings, exposure to an essential service, and rising demand driven by tighter regulation.
The firm has acquired close to a 100% interest in Brisbane-based fire testing, inspection, maintenance and safety services provider FVS Services Group, enabling the company’s current owner, a Swiss family office, to fully exit its shareholding.
Fortitude partnered on the investment with former J Steel chief operating officer Michael Jorgensen, who is set to become FVS’ next chief executive officer and a shareholder in the business.
Existing management will continue to lead the company and will retain a 10% ownership stake. Investors in Fortitude’s wealth strategy, the Fortitude Small Cap Private Equity Fund, will also gain exposure to FVS through their allocation to the Fortitude Fund.
