Private Equity Finds a New Source of Profit: Volunteer Fire Departments

Private equity finds a new source of profit: Volunteer fire departments

The Norfolk Volunteer Fire Department operates on an annual budget of $132,000, barely enough to sustain its aging rigs, train unpaid crews and keep the lights on at the station in the hills of northern Connecticut. Not long ago, it faced a different kind of emergency: The software system it relied on to track detailed incident information was no longer going to be usable. A company backed by private equity investors, ESO Solutions, had acquired…

Private Equity Finds a New Source of Profit: Volunteer Fire Departments

The Norfolk Volunteer Fire Department operates on an annual budget of $132,000, barely enough to sustain its aging rigs, train unpaid crews and keep the lights on at the station in the hills of northern Connecticut.