A fund managed by the Century City-based Ares Management’s private equity group has acquired Schaumberg, Ill.-based security systems integrator Convergint Technologies, from KRG-affiliated investment funds for an undisclosed amount.
Convergint was founded in 2001 and employs more than 3,400 workers. Ares Management’s financial advisor was Imperial Capital while Proskauer Rose gave it legal advice. Convergint’s financial advisor was financial services firm William Blair and its legal advisor was Hogan Lovells.
“We are excited to partner with the Covergint 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, in a statement.
Dan Moceri, Convergint’s executive chairman and co-founder, said in a statement that the additional resources accrued via the Ares acquisition will allow the company to grow globally and provide additional customer service.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.