Ares Management has acquired Schaumberg, Illinois-based Convergint Technologies, a provider of fire and life safety services, from KRG. No financial terms were disclosed. Imperial Capital served as financial adviser to Ares Management while William Blair did likewise for Convergint Technologies.
LOS ANGELES–(BUSINESS WIRE)–Ares Management, L.P. (NYSE:ARES) announced today that a fund managed by its Private Equity Group has acquired Convergint Technologies, a leading global independent security integrator, from investment funds affiliated with KRG. Terms of the transaction were not disclosed.
Based in Schaumberg, Illinois, 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. We are excited to partner with the Convergint management team and look forward to supporting the company in its next phase of growth,” said Matt Cwiertnia, Partner and Co-Head of North American Private Equity at Ares Management.
“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,” said Ken Lochiatto, CEO of Convergint. “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.”
“We look forward to a strong partnership with Ares Management,” said Dan Moceri, Executive Chairman and Co-Founder of Convergint Technologies. “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.
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 Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $106 billion of assets under management as of September 30, 2017 and more than 15 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.