Five Bays Capital acquires Firezat to expand wildfire protection amid growing crisis

Five Bays Capital, a private investment firm specialising in high-growth, mission-driven companies, has acquired Firezat, a leading provider of wildfire structure protection, as fires grow increasingly severe across California and other high-risk states.

Founded in 2006, Firezat has supplied millions of square feet of its patent-pending aluminum-based Wildfire Ember Shields and Wildfire Fire Shields, designed to protect structures from radiant heat and ember ignitions.

For decades, the US Forest Service and firefighting agencies have relied on Firezat’s shields to safeguard historical landmarks and critical infrastructure.

Studies by the National Institute of Standards and Technology (NIST) and the Insurance Institute for Business & Home Safety (IBHS) show that embers cause up to 90% of wildfire-related structure ignitions.

When deployed, the shields wrap around buildings like a metallic fire blanket, requiring no water, electricity, or chemicals. They are reusable, easy to store, and provide protection for extended periods, even as fires shift or reignite.

Following the devastating Eaton and Pacific Palisades Fires in Los Angeles in January 2025, homeowners and insurers in wildfire-prone areas are urgently seeking effective ways to protect properties and maintain access to insurance. The demand for proven wildfire defence solutions is greater than ever.

Mike Lloyd, founding partner of Five Bays Capital and former co-founder and COO of Corvus Insurance, sees this acquisition as more than a business move—it’s a personal mission.

“Firezat has proven its effectiveness protecting structures from wildfires for decades, but as wildfire risk continues to rise and insurers increasingly raise rates and/or withdraw from affected markets, there’s an urgent need to scale this technology. Our mission is to protect more communities while helping to stabilise the insurance markets.”

The founder of Firezat, Dan Hirning, added: “Five Bays Capital is accelerating our expansion across team building, research and development, production capacity, and distribution channels at an incredible pace.

“Their insight and experience within the insurance industry are helping Firezat forge strategic partnerships with both firefighting professionals and insurance providers who protect American homes and businesses.”

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