BlackRock Long Term Private Capital has acquired a majority interest in Summit Companies, a fire and life safety service and installation company, from CI Capital Partners. LTPC will partner with Summit’s management team to drive the company’s next phase of growth through geographic expansion and scaling its capabilities and services.
Colm Lanigan, head of LTPC, Americas, commented, “We are excited to partner with the Summit team to continue building out a national platform designed to deliver the industry’s most comprehensive set of fire and life safety services to both local and regional customers and national accounts. This investment capitalizes on the need for an end-to-end solutions provider as safety continues to be a critical regulatory focus for companies across industries. We look forward to advancing Summit’s strong growth momentum following CI Capital’s ownership over the past four years.”
Jeff Evrard, CEO of Summit Companies, commented, “LTPC’s investment in Summit is a testament to our commitment to exceptional customer service and dedication to fire and life safety protection. We look forward to working with the LTPC team to advance our strategic growth objectives and continue serving our customers to the best of our ability as we seek to continue building a national platform to provide safety and protection throughout the country.”
Summit Companies is LTPC’s fifth investment to date, and its third North American investment.
Simpson Thacher & Bartlett served as legal advisor to BlackRock LTPC.