Blackstone Said to Buy AI Fire From TruArc in $1.1 Billion Deal

Blackstone Inc. agreed to buy AI Fire for about $1.1 billion including debt, according to people with knowledge of the matter.

The company, which installs and maintains fire extinguishers, alarms, sprinklers and other products, was backed by TruArc Partners, which announced a sale earlier Thursday without identifying the buyer or disclosing terms.

A representative for Blackstone declined to comment, and a representative for TruArc didn’t immediately respond to a message seeking comment.

The transaction adds to recent deals in the fire and safety business as property owners look for more protection amid bouts of extreme weather.

Permira has agreed to ...