IK Partners (“IK”) is pleased to announce that the IK Small Cap III (“IK SC III”) Fund has signed an agreement to acquire Checkmate Fire (“Checkmate” or “the Company”), the UK’s largest passive fire protection specialist, from YFM Equity Partners (“YFM”). IK is making its first UK investment from the Fund’s dedicated pool of Development Capital. The existing management team will be reinvesting alongside IK. Financial terms of the transaction are not disclosed.