– Ares Management Corporation (“Ares”), a leading global alternative investment manager, announced that an Ares Private Equity fund closed a single-asset continuation vehicle for Convergint Technologies, L.P. (“Convergint”) with approximately $850 million in total commitments.
– Convergint is a global leader in service-based systems integration, providing security, fire and life safety, and other critical communications solutions.
– The transaction was led and fully underwritten by Leonard Green & Partners’ (“LGP”) Sage Fund, which invests in industry-leading assets via single-asset continuation vehicles.
– Vintage Strategies at Goldman Sachs Alternatives also participated in the continuation vehicle.
– Alongside the continuation vehicle, an Ares Private Equity fund made a substantial new investment in Convergint.
– Ares will continue to hold shared control of Convergint alongside existing co-sponsors, LGP and Harvest Partners.
– The investment strengthens Ares’ ongoing partnership with Convergint, supporting the Company’s continued growth and success.
– Convergint operates over 220 technology centers across the Americas, APAC, and EMEA, serving primarily blue-chip clients across multiple industries.
– Since Ares’ initial investment in early 2018, Convergint has roughly quadrupled Adjusted EBITDA, delivered strong organic growth, and completed over 40 acquisitions.
– Matt Cwiertnia, Head of Ares Private Equity, (pictured in middle) highlighted the company’s strong secular tailwinds, technological advancements, and confidence in Convergint’s growth playbook.
– David Fox and Garrett Hall of LGP noted their conviction in Convergint’s leadership, service model, and long-term growth momentum.
– Ann Fandozzi, CEO of Convergint, emphasized the company’s global scale, deep expertise, and positioning to help customers manage complex risks amid rising demand.
