Summit Group, a portfolio company of Sovereign Capital Partners, has been refinanced
Summit Group
Summit Group is a leading independent provider of trust, family office, fiduciary, fund administration and corporate services to high-net-worth and ultra-high-net-worth individuals, family offices, funds and corporate clients. The group operates across established international financial centers, including Jersey, Guernsey, Switzerland, Cayman Islands and the Middle East, serving clients through long-standing relationships and highly recurring service requirements. Backed by Sovereign Capital Partners since 2020, Summit has grown significantly through organic growth and strategic acquisitions. The group operates in a fragmented market supported by continued growth in global private wealth, with significant scope for further consolidation.
The Deal
Lincoln International acted as exclusive debt advisor to Summit Group on its refinancing, providing capacity to fund an identified near-term acquisition and the group’s continued buy-and-build strategy. Lincoln ran a competitive process across bank and private credit providers, evaluating a range of financing structures. The resulting financing package refinanced Summit’s existing debt on improved terms while providing substantial committed acquisition capacity, greater covenant and documentation flexibility and a long-dated capital structure capable of supporting the group as it continues to scale. The financing was tailored to Summit’s multi-jurisdictional and regulated operating model, including the regulatory and security requirements across its international platform.
Our Perspective
Aude Doyen, Managing Director & Co-Head of Capital Advisory in Europe, commented, “We continue to see strong financing appetite for high-quality businesses across the wealth, fiduciary and fund administration sectors. For multi-jurisdictional, regulated businesses, however, achieving the right financing outcome requires a very precise understanding of how regulatory, structural and security considerations differ across jurisdictions and how those requirements translate into the financing and security package. We were pleased to bring that experience to Summit and help put in place a structure designed around the group’s continued growth.”
Summit has grown significantly since Sovereign’s investment, both organically and through acquisition, and we continue to see substantial opportunity to build the business across its international markets. Lincoln brought strong market insight, ran a highly competitive process and remained focused throughout on the strategic objectives of the business. The resulting financing leaves Summit well-positioned for its next phase of growth.
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