Convergint Technologies partners with KRG Capital Partners
SCHAUMBURG, Ill., Sept. 19., 2012 /PRNewswire/ -- Convergint Technologies, one of the nations' leading commercial security and life safety systems integrators, has partnered with KRG Capital Partners. With its new partner, Convergint expects to increase its organic growth and pursue acquisitions that will bolster its geographic coverage and expand its high level enterprise integration business.
Convergint Technologies 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.
"We are in the business of solving problems and helping our customers to achieve business excellence" said Dan Moceri, CEO and Co-Founder. "We have transformed the company from a physical-based technology partner to a valued solutions provider."
Convergint hired William Blair & Company to search for a capital partner that could assist in aggressively expanding the company's North American footprint, growing its IT-based offerings and continue moving the company to delivering value-added services. Convergint joined forces with KRG Capital Partners, a leading private equity firm that specializes in partnering with management teams that are committed to building best-in-class industry leaders through the combination of internal growth and selective strategic add-on acquisitions.
"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
KRG Capital Partners, ("KRG Capital") is a private equity investment firm specializing in acquiring 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. www.krgcapital.com
SOURCE Convergint Technologies LLC
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