NEW YORK & ST. PAUL, Minnesota – (COMMERCIAL THREAD) – BlackRock Long Term Private Capital (“LTPC”) today announced the acquisition of a controlling interest in Summit Companies (“Summit”), a leading fire and security services and facilities company people, with CI Capital Partners (“CI Capital”). LTPC will partner with Summit’s leadership team to drive the next phase of business growth through geographic expansion and scaling of its capabilities and services.
Building on more than 20 years of commitment to customers and the expertise of leading professionals, Summit Companies has grown into a one-stop-shop for non-discretionary fire and life safety services, offering comprehensive end-to-end capabilities. at the end for the detection and extinction of fires. , and the safety of people at the local, regional and national levels. With a broad portfolio of leading fire protection companies, Summit provides its diverse customer base with a comprehensive set of services designed to protect buildings, assets and people, including installation, inspection, monitoring , maintenance, renovation and advice.
Colm Lanigan, Head of LTPC, Americas, commented: “We are excited to partner with the Summit team to continue building a national platform designed to deliver the industry’s most comprehensive set of fire and life safety services to local and regional customers and national accounts. . This investment capitalizes on the need for an end-to-end solutions provider, as security continues to be a critical regulatory goal for businesses across industries. We look forward to furthering Summit’s strong growth momentum following ownership of CI Capital over the past four years.
Summit has experienced significant organic and inorganic growth over the past few years, completing an impressive 55 strategic acquisitions for a total of 82 acquisitions since its founding in 1999. This expansion has enabled Summit to create a diverse network of branches and a suite of capabilities through its subsidiaries, expanding the business from a local leader in the Upper Midwest to serve 90,000 customers in 20 states in the Midwest, South and Southwest.
Jeff Evrard, CEO of Summit Companies, commented: “LTPC’s investment in Summit is a testament to our commitment to exceptional customer service and our dedication to fire protection and life safety. We look forward to working with the LTPC team to advance our strategic growth goals and continue to serve our customers to the best of our ability as we seek to continue to build a national platform to provide security and protection in all the countries. ”
Summit Companies is LTPC’s fifth investment to date and its third investment in North America. The acquisition is very emblematic of LTPC’s strategy of investing in high quality companies with strong and persistent returns on capital, multiple growth avenues and world-class management teams.
Simpson Thacher & Bartlett served as legal counsel to BlackRock LTPC.
About BlackRock LTPC
BlackRock LTPC is an innovative private equity strategy focused on investing in high quality companies and creating value through active collaboration with senior management teams. The flexible duration of the strategy and the cautious approach to leverage preserves the growth option and helps enable compound capital appreciation. LTPC’s team of 16 professionals is based in New York and London and invests in North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $ 283 billion in alternative investments and commitments on behalf of clients worldwide as of June 30, 2021. For more information on BlackRock, please visit www.blackrock.com/corporate.
About Summit Companies
SFP Holding, Inc. (Summit Companies), through its subsidiaries, provides leading fire and people safety services with a growing national presence. Since 1999, Summit has been a leader in fire safety and people with the experience and capabilities that create a one-stop-shop solution for local and national fire detection and suppression. The subsidiaries of Summit Companies meet all of a client’s requirements for fire protection, fire safety, consulting and engineering services. Learn more about: www.SummitCompanies.com
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