BlackRock Long Term Private Capital Expands Holdings in Consumer Brands, Software, and Safety Equipment
Posted on 09/24/2021
Disclosed on September 20, 2021, BlackRock Long Term Private Capital purchased a majority interest in SFP Holding, Inc. (Summit Companies), a fire and life safety service and installation company, from New York-based CI Capital Partners LLC (formerly Caxton-Iseman Capital). Summit Companies has become a one-stop-shop of non-discretionary fire and life safety services, offering complete end-to-end capabilities for fire detection, fire suppression, and life safety on a local, regional and national scale.
Managed by BlackRock Inc. and under the BlackRock Alternative Investors group, BlackRock Long Term Private Capital is a private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams.
Advisors
Simpson Thacher & Bartlett served as legal advisor to BlackRock LTPC. Truist Financial served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Summit Companies.
BlackRock Long Term Private Capital’s investments
1. Authentic Brands Group, (August 11, 2019), New York-based owner of a portfolio of iconic and world-renowned brands.
2. Creed (February 27, 2020), U.K.-based luxury fragrance company
3. Aquila Heywood (February 2, 2021), U.K.-based pensions administration software and services
4. Transaction Data Systems, Inc. (dba as Rx30) (May 17, 2021), pharmacy software, Seller – GTCR, will retain a minority interest.
5. Summit Companies (September 20, 2021)
