CI Capital Partners Acquires Summit Companies

ST. PAUL, Minn. and NEW YORK, Sept. 5, 2017 /PRNewswire/ -- CI Capital Partners ("CI Capital"), a New York-based private equity firm, and Summit Companies ("Summit"), a leading fire and life safety service and installation company, announced today that an affiliate of CI Capital has acquired a majority interest in Summit from Chicago-based private equity firm Prospect Partners, LLC. The management team of Summit will continue to lead the company and is retaining a significant equity ownership in the company. Terms of the transaction were not disclosed.

Founded in 1999, Summit provides services designed to protect buildings, assets and people. Summit's end-to-end capabilities include inspection, testing and monitoring, service and repair, installation, and consulting services for fire protection, life safety and security systems. The company services over 35,000 commercial, industrial, government, healthcare and multi-family residential facilities annually.

"Summit has achieved significant growth over the last ten years, in part due to the completion of over 20 add-on acquisitions," stated Summit CEO, Jeff Evrard. "We believe that we can continue the company's growth trajectory, and that CI Capital shares our vision for building a national company to better serve our customers."

"Summit is well-positioned to consolidate the fragmented fire and life safety sector, and our investment in Summit is another example of our 'buy and build strategy'," said Timothy Hall, Managing Director, CI Capital. "We are thrilled for the opportunity to form a partnership with the management team of Summit and look forward to what we can accomplish together."

TM Capital served as Summit's exclusive financial advisor in connection with this transaction.

About Summit Companies
Founded in 1999, Summit provides complete fire and life safety services designed to protect buildings, assets and people. The company has expertise across the entire spectrum of fire and life safety categories including both wet and dry suppression, clean agent suppression, alarm and security monitoring, fire extinguishers, kitchen hoods and special hazard systems. Summit has the experience and capabilities to handle projects from a small tenant remodel to a large industrial facility. The company services 35,000+ commercial, industrial, government, healthcare and multi-family residential facilities annually. Learn more at www.summitcous.com

About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.4 billion in assets under management, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since inception, CI Capital and its portfolio companies have made over 230 acquisitions representing over $8 billion in enterprise value.

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SOURCE CI Capital Partners