Denver-based private equity firm KRG Capital Partners has completed a recapitalization of Convergint Technologies along with its senior management team. This investment represents the twelfth platform company for KRG’s $1.96 billion Fund IV.
KRG Capital Partners (KRG), a Denver-based private equity firm that specializes in partnering with management teams that are committed to building best in class industry leaders, has completed a recapitalization of Convergint Technologies along with its senior management team. This investment represents the twelfth (12th) platform company for KRG’s $1.96 billion Fund IV.
Convergint Technologies, one of the nations’ leading commercial security and life safety systems integrators, was founded in 2001 and has enjoyed uninterrupted growth for over eleven years with 21% year over year growth throughout the recession. Convergint initially installed cameras, card readers and smoke detectors. Today, Convergint is the leading independent integrator in deploying and servicing IP based devices. These systems and sophisticated application software are integrated into client’s enterprise systems to create business efficiencies, meet regulatory requirements, and provide safe working environments. With its new partnership with KRG, Convergint expects to increase its organic growth and pursue acquisitions that will bolster its geographic coverage and expand its high level enterprise integration business.
“We are very pleased to be associated with a high caliber company like KRG,” said Greg Lernihan, President and Co-Founder. “We have always focused on growth and now have more resources available to us than ever before.”
“KRG is very excited to be part of the Convergint Team. They have a successful track record of growth, an outstanding Fortune 500 customer base and is a market leader in their industry,” said Ted Nark, Managing Director of KRG.
Convergint Technologies is a North American System Integrator focused on electronic security, fire and life safety, and building automation. The business started on May 25th 2001, adding their first eight colleagues in June of that year. Today they employ over 1100 colleagues and have offices in 26 cities throughout the US and Canada. Convergint is ranked as the 7th largest systems integrator by SDM Magazine. www.convergint.com
Founded in 1996, KRG is a Denver-based private equity firm with $4.3 billion of capital either deployed or available for future investment, which includes approximately $1 billion deployed since inception on behalf of equity co-investors. KRG specializes in acquiring majority interests in middle-market companies and growing them into significantly larger enterprises through the combination of internal growth and selective strategic add-on acquisitions. KRG Capital seeks investment opportunities where we can partner with existing management teams that are committed to building a best-in-class industry leader. Since inception, KRG has invested in 43 platform companies and has completed 129 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com .
SOURCE: KRG Capital Partners