Summit Park Closes Second Fund
Summit Park is pleased to announce the final closing of Summit Park II, L.P. ("SP II") at $118.5 million of capital commitments. Limited partners include the Fund's two anchor investors, J.P. Morgan Asset Management and Private Advisors, as well as Adveq, SCS Financial, Texas Children's Hospital, and a leading university endowment, among others.
"We are pleased to announce the closing of SP II," said founding partner Bob Calton, "and we are grateful to our existing investors for their continued support and confidence. Exceeding our target in a short period of time is a testament to the quality of our team and a record of successful execution."
Through SP II, Summit Park will continue to make control investments in targeted industry sectors in which the firm's principals have deep expertise, including business services, outsourced services, light manufacturing, and distribution. Investment interests will be oriented towards lower middle market companies with $20 to $100 million in revenue located in in the Mid-South, Mid-Atlantic, and Southeastern regions of the United States.
"SP II represents an exciting period of growth for our firm," said founding Partner Jim Johnson. "We are committed to being the partner of choice for lower middle market businesses and look forward to continuing to partner with superior management teams to build great companies."
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a wide range of industries, including business services, outsourced services, light manufacturing, and distribution. Summit Park targets businesses with revenue between $20 and $100 million and located in the Mid-South, Mid-Atlantic, and Southeastern regions of the United States. The firm's capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information please contact Rachel Hannon, (704) 654-3400 x240, at Summit Park.