Summit Risk Advisors Completes $100M Recapitalization with Colbeck

Summit Risk Advisors, previously SEK Holding Company LLC, has completed a $100,000,000 recapitalization and senior debt facility with Colbeck Capital Management to finance the acquisition of nine retail insurance agencies, consolidate ownership and provide a delayed draw facility for future insurance agency acquisitions.

Summit is the parent company of Sawicki Insurance Agency and its affiliates with offices throughout Connecticut, Florida, Georgia, Tennessee, Louisiana and California. The company is a large independent retail insurance agency that offers personal lines, small commercial lines and life and health insurance.

Merger & Acquisition Capital Services LLC served as the sole financial advisor to Summit. Shipman & Goodwin LLP acted as legal advisor to Summit. Schulte, Roth & Zabel acted as legal counsel to Colbeck.

Source: Merger & Acquisition Capital Services LLC