#London #UK #H.I.G. WhiteHorse #Summit Group #Sovereign Capital

H.I.G. WhiteHorse Provides Financing to Summit Group

H.I.G. WhiteHorse, an affiliate credit firm of H.I.G. Capital, one of the leading global alternative investment firms with approximately $70 billion in assets under management, recently disclosed that it has granted £81 million in senior secured credit lines to Summit Group. This financing aims to refinance existing debt and support Summit's acquisition of RH Jersey.

Summit Group specializes in providing trust, administrative, and advisory services to a diverse range of private clients. The acquisition of RH Jersey is a strategic move for Summit, as it enhances their service offerings and grants access to new jurisdictions. Through this merger, the combined entity will include over 370 professionals operating from an extensive international network, with offices located in Jersey, Guernsey, Switzerland, United Arab Emirates, Cayman Islands, and the United Kingdom. Additionally, Summit will diversify its range of services to include private wealth management, corporate services, fund administration, and tax advisory services in Jersey and the UK.

Commenting on the acquisition, Derek Vaz, CFO of Summit, stated, "This is an exciting step in our evolution, and I am thrilled that we can continue to rely on our strong working relationship with Michael and the H.I.G. team."

James Dragan, a partner at Sovereign Capital Partners, expressed optimism, noting, "We are delighted that H.I.G. continues to support Summit. We have quadrupled the size of the group since H.I.G.'s first investment, resulting in a collaborative partnership that has created a global fiduciary and corporate services group."

Pascal Meysson, head of H.I.G. WhiteHorse Europe, remarked, "We are excited to assist Summit in executing this significant strategic acquisition, which strengthens its presence in Jersey and broadens its service offerings. We look forward to working alongside the management and Sovereign as they explore their next growth opportunities."

Michael Lucas, Managing Director at H.I.G. WhiteHorse Europe, noted, "Summit has established a robust platform with an exceptional record in international development. The acquisition of RH enhances Summit's scale and solidifies its position as a premier player for private clients in the highly attractive Channel Islands market. We are pleased to provide a flexible financing solution to support this transaction."

About Sovereign Capital Partners

Founded in 2001, Sovereign is a UK-based private equity specialist with a buy-and-build strategy. It has developed strong expertise in business support services, healthcare, and education and training, supporting high-quality businesses that grow through a mix of organic growth strategies and targeted buy-and-build efforts.
For more information, please visit sovereigncapital.co.uk.

About H.I.G. Capital

H.I.G. is one of the leading global alternative investment firms, with $70 billion in assets under management. Headquartered in Miami, H.I.G. has offices in various cities across the United States and international locations in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogota, Rio de Janeiro, São Paulo, Dubai, and Hong Kong. The firm specializes in providing debt and equity capital to mid-market companies, utilizing a flexible, operationally-focused, and value-creating approach.

Since its inception in 1993, H.I.G. has invested in and managed over 400 companies globally, with a current portfolio comprising more than 100 companies whose cumulative revenues exceed $53 billion. For more information, please visit hig.com.