KRG Capital Portfolio Company Convergint Technologies Acquired by Ares Management Fund
DENVER, CO (February 2, 2018) – KRG Capital Partners (“KRG”), a Denver-based buyout firm, has sold Convergint Technologies (“Convergint” or the “Company”), a leading independent provider of integration services for electronic security, fire and life safety, and building automation systems, to a fund managed by the Private Equity Group of Ares Management, L.P. (NYSE: ARES) (“Ares”).
Ted Nark, Managing Director at KRG, commented “Over the past five years, we have enjoyed an incredible partnership with Convergint’s industry leading management team. Their outstanding execution of Convergint’s growth strategy has positioned the Company as the market leader in electronic security and we are confident they will continue their remarkable track record of growth in the years to come. We wish them all the best with their new financial partner Ares.”
“During our partnership with KRG, the Company successfully executed a multi-pronged growth strategy highlighted by consistent investment in its sales team, entering new end markets such as Government and banking, and expanding its geographic footprint, including a global expansion in Asia and Europe, through the opening of new office locations and the completion of 19 add-on acquisitions,” added Convergint’s Co-Founder and Executive Chairman, Dan Moceri. “We sincerely thank KRG for the incredible partnership we have enjoyed, and we look forward to working with Ares on writing the exciting next chapter in Convergint’s growth story.”
KRG partnered with management to recapitalize Convergint in August 2012, and the sale of Convergint represents the 12th successful exit in KRG’s Fund IV.
William Blair served as financial advisor and Hogan Lovells served as legal advisor to Convergint on the transaction.
About Convergint Technologies:
Convergint Technologies is an industry-leading organization that designs, installs, and services integrated building systems including electronic security, fire alarm, and life safety systems. To learn more about Convergint, visit www.convergint.com.
About KRG Capital Partners:
Founded in 1996, KRG is a Denver based private equity buyout firm with $4.4 billion of cumulative capital either deployed or available for future investment, which includes approximately $1.2 billion deployed since inception by institutional equity co-investors. The Firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. More information on KRG is available at www.krgcapital.com.
Ted Nark, KRG Managing Director
Stew Fisher, KRG Managing Director