Ares Closes $850 Million Single-Asset Continuation Vehicle for Convergint
Client: Ares Private Equity fund
Client Location: United States
Target: Convergint Technologies, L.P.
Target Location: United States
The Transaction: Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced that an Ares Private Equity fund has closed a single-asset continuation vehicle with approximately $850 million in total commitments for Convergint Technologies, L.P. (“Convergint”), a global leader in service-based systems integration.
Target Description: A global leader in technology enabled security and safety solutions, Convergint’s services include security systems, fire and life safety and other critical communications. Across over 220 technology centers in the Americas, APAC and EMEA, Convergint brings a differentiated value proposition to its diversified and primarily blue-chip customer base in multiple end markets. Since Ares’ investment in early 2018, Convergint has approximately quadrupled Adjusted EBITDA, delivered robust organic growth and executed over 40 acquisitions.
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