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.
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Ares Management
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Carl Drake, +1 800-340-6597
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Source: Ares Management, L.P.
