Ares Management to Acquire Convergint Technologies
A fund managed by Ares Management’s private equity group acquired Convergint Technologies, SDM’s 2012 Systems Integrator of the Year, from investment funds affiliated with KRG. Terms of the transaction were not disclosed.
Based in Schaumberg, Ill., Convergint provides comprehensive security integration and fire and life safety services in more than 80 locations across four continents. Since its founding in 2001, Convergint has grown to employ more than 3,400 colleagues as the business continues to expand its security offerings and geographic footprint. Central to this growth is Convergint’s strong corporate culture, which focuses on providing best-in-class service to meet its customers’ unique security needs.
“Convergint is a leader in its industry, with a unique culture and a longstanding track record of fostering the development of its colleagues and delivering outstanding service to its customers,” said Matt Cwiertnia, partner and co-head of North American private equity at Ares Management. “We are excited to partner with the Convergint management team and look forward to supporting the company in its next phase of growth.”
Convergint CEO Ken Lochiatto said, “With the opportunities in front of us, this transaction will enable Convergint to take the next step in our growth as we continue building on our foundation as the leading global independent integrator in the security and fire and life safety industry. We look forward to partnering with Ares to realize our vision for long-term growth as we continue to offer world-class solutions to our customers across the globe, consistent with our longstanding values and beliefs.”
Dan Moceri, executive chairman and co-founder of Convergint Technologies, said, “We look forward to a strong partnership with Ares Management. The additional resources available to Convergint through Ares will enable us to continue toward our goal of being our customers’ best service provider. We know our customers will benefit greatly from the way this partnership will allow us to grow globally and further adapt to their needs.”
Imperial Capital acted as a financial advisor, and Proskauer Rose LLP acted as legal advisor to Ares Management. William Blair acted as a financial advisor, and Hogan Lovells acted as legal advisor to Convergint Technologies.