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Blackrock Long Term Private Capital Acquires Summit Companies

Sep 20, 2021•almost 4 years ago

Acquiring Company

BlackRock

Acquired Company

Summit Companies

New YorkLendingFintechFinancial ServicesPrivacy And SecurityGovernment And MilitaryContent And PublishingInformation Technology

Description

BlackRock Long Term Private Capital (“LTPC”) today announced that it has acquired a majority interest in Summit Companies (“Summit”), a leading fire and life safety service and installation company, from CI Capital Partners (“CI Capital”). 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.

Company Information

Company

BlackRock

Location

New York, New York, United States

About

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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