Denver-based private equity firm KRG Capital Partners has completed a recapitalisation of Convergint Technologies along with Convergint’s senior management team.
This investment represents the 12th platform company for KRG’s USD1.96bn Fund IV.
Convergint Technologies, a commercial security and life safety systems integrator, was founded in 2001 and has enjoyed uninterrupted growth for over 11 years with 21 per cent year over year growth throughout the recession.
Convergint initially installed cameras, card readers and smoke detectors. Today, Convergint is a 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 calibre company like KRG,” says 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,” says Ted Nark, managing director of KRG.
