KRG Capital Partners has completed a recapitalization of Convergint Technologies along with its senior management team. This investment represents the twelfth platform company for KRG’s $1.96 billion Fund IV.
Convergint Technologies is a system integrator focused on electronic security, fire and life safety, and building automation. The company was founded in 2001 and has 1100 employees in 26 cities throughout the US and Canada. Convergint is headquartered in Schaumburg, IL (www.convergint.com)
“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 specializes in acquiring and recapitalizing unique and profitable middle-market companies. Since inception, KRG has invested in 43 platform companies and has completed 129 add-on acquisitions for those platforms. Founded in 1996, KRG has over $4 billion of capital under management and is based in Denver, CO (www.krgcapital.com).
“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.
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-19-12