Convergint Techologies, a portfolio company of KRG Capital Partners, has acquired Beltsville, Maryland-based SigNet Technologies, a security systems provider. No financial terms were disclosed.
DENVER–(BUSINESS WIRE)–Convergint Technologies (“Convergint” or the “Company”), a KRG Fund IV (“KRG”) portfolio company and leading independent provider of integration services for electronic security, fire and life safety, and building automation systems, has announced the acquisition of SigNet Technologies. Headquartered in Beltsville, Md., and with an additional office in Cary, N.C., SigNet Technologies is a full-service security systems integrator focused on the enterprise physical security needs of its clients. SigNet’s team of more than 90 colleagues will bring Convergint their specialized knowledge and experience in executing demanding government programs, significantly adding to Convergint’s rapidly expanding government capabilities.
“The acquisition of SigNet adds additional scale and leadership to our fast-growing government practice and continues Convergint’s track record of partnering with best in class integrators in their respective end markets and geographies,” said Ted Nark, Managing Director of KRG.
KRG made an investment in Convergint in August 2012, representing the 12th of 15 platform company investments in KRG Fund IV. SigNet Technologies represents the 16th acquisition for Convergint during its partnership with KRG.
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. For more information on KRG, please visit www.krgcapital.com.