Charlotte PE group Summit Park sells a business after 17 months in portfolio
Charlotte PE group Summit Park sold a portfolio holding, records management company Arkive, to Access CIG of Livermore, Calif.
Atlanta-based Arkive “built significant value in 17 months” of ownership by the private equity company, according to Summit Park’s release. Further details weren’t disclosed.
Veteran PE industry bankers Bob Calton and Jim Johnson founded Summit Park in 2006.
The transaction marks Summit Park’s second exit from its second fund, Summit Park II, which closed in April 2015 after raising $118.5 million.