Summit Companies Announces Acquisition by BDT & MSD Partners

Mendota Heights, MN (August 4, 2025) – Summit Companies (“Summit”), a leading provider of fire and life safety services, announced today that BDT & MSD Partners (“BDT & MSD”), a merchant bank built to serve the distinct needs of founders and family business owners, has entered into a definitive agreement to acquire a majority stake in the company through its affiliated funds. Summit Founder and President Quint Rubald, CEO Jeff Evrard, and the broader management team will remain shareholders and continue to lead the company. BDT & MSD will acquire its position from BlackRock Long Term Private Capital (“BlackRock LTPC”).

Founded in 1999, Summit has grown into one of the largest and most respected platforms in the U.S. fire and life safety industry, with locations across 37 states and the ability to service customers nationwide. The company offers complete end-to-end capabilities for fire detection, fire suppression, and life safety on a local, regional, and national scale. It serves a diverse national and local customer base across commercial, industrial, institutional, healthcare, marine, and multi-family sectors.

“BDT & MSD understands the importance of trust, continuity, and values alignment in a business like ours,” said Quint Rubald. “Their experience partnering with founders and family businesses makes them an ideal long-term home for Summit as we continue our mission of delivering exceptional fire and life safety services nationwide. We are grateful to BlackRock LTPC for their support and stewardship over the past several years and look forward to this new chapter.”

Jeff Evrard added, “From day one, Summit has been guided by a people-first culture and a commitment to doing the right thing for our employees, customers, and communities. In BDT & MSD, we’ve found a partner who not only respects that legacy but will help us build on it for decades to come.”

“Summit has spent the past two decades doing what great founder-led companies do best: staying close to the customer, investing in people, and building for the long-term,” said Byron Trott, Chairman & Co-CEO of BDT & MSD Partners. “We are proud to be joining Quint, Jeff, and their team as partners and stewards of a business that plays such a vital role in protecting lives and communities.”

Over the past two decades, Summit has grown by deepening its roots in local communities and building lasting relationships with customers. The company’s consistent organic growth is a testament to its dedication to service, responsiveness, and trust. Through strategic acquisitions, Summit has further extended its reach and capabilities, solidifying its position as a leader in the fire and life safety industry.

The transaction is expected to close in Q4 2025, subject to customary regulatory approvals. Financial terms were not disclosed.

Davis Polk & Wardwell LLP served as legal advisor to BDT & MSD. Baird, J.P. Morgan, and Jefferies served as financial advisors, and Simpson Thacher & Bartlett served as legal advisor to Summit Companies and BlackRock LTPC.

About Summit Companies

SFP Holding, Inc. (“Summit Companies”) is a leading, fully integrated provider of fire and life safety services delivering comprehensive, code-compliant solutions through its operating subsidiaries across the United States. Summit Companies provides end-to-end services—including system design, installation, inspection, maintenance, monitoring, and consulting—across a diverse commercial customer base and growing branch network. Summit Companies has been named to the Inc. 5000 list of the fastest-growing private companies in the United States for the past six years based on strong organic growth and a proven track record as the acquirer of choice within the fire and life safety industry. Learn more at www.SummitCompanies.com.

About BDT & MSD Partners

BDT & MSD Partners is a merchant bank with an advisory and investment platform built to serve the distinct needs of business owners and strategic, long-term investors. The firm is distinguished by its decades of experience advising at the intersection of founders, families, and businesses, as well as by its differentiated capital base and culture of aligned investing. BDT & MSD was established in 2023 through the combination of BDT & Company, the merchant bank to the closely held, founded in 2009 by Byron Trott, and MSD Partners, a premier investment firm, led by Gregg Lemkau, that since 2009 has invested on behalf of Dell Technologies Founder Michael Dell, his family, and other like-minded investors. Its funds are managed by its affiliated investment advisers. For more information, visit www.bdtmsd.com.