Daily News: February 1, 2019

Medley Supports Summit Acquisition of ABC Fire and Cylinder Service

Medley Management provided a senior secured credit facility to support Summit Companies’ acquisition of ABC Fire and Cylinder Service.

ABC Fire is a commercial, residential and industrial fire prevention specialist with operations in Reno and Las Vegas.

The acquisition represents a strategic geographic expansion of Summit’s existing fire protection, life safety, and consulting business, which has locations in Arizona, Iowa, Michigan, Minnesota, Nebraska, Nevada, North Dakota, Texas, and Wisconsin, and provides its services across the United States. It is a portfolio company of CI Capital Partners.

“Medley was a great partner in this transaction and delivered the financing we required with speed and certainty,” said Timothy Hall, a CI capital partner. “We look forward to continuing to work together to support Summit Companies’ continued success.”

“We are delighted to support CI Capital Partners and Summit by providing a flexible financing solution for this acquisition,” said Brian Dohmen, head of Direct Lending & Origination at Medley.

Medley is an alternative asset management firm which offers yield solutions to retail and institutional investors. It has provided capital to over 400 companies across 35 industries in North America.