April 7, 2015
KRG Capital Portfolio Company Convergint Technologies Acquires GS Security Systems, Inc.
DENVER, CO (April 7, 2015) – Convergint Technologies (“Convergint” or the “Company”), a KRG Fund IV (“KRG”) portfolio company and leading independent provider of integration services for electronic security, fire and life safety, and building automation systems has announced its acquisition of GS Security Systems Inc. (“GS Security Systems”), a leading provider of physical security systems throughout New England and the East coast.
Founded in 2007 by Erik Sink, Joe Gillis, and Nick Sink, Convergint and GS Security Systems will integrate their businesses, located in Tewksbury and Sharon Massachusetts, respectively, resulting in one of the strongest physical security and fire solution and service providers in New England. The combined organization provides a wide array of world class security and fire services including system design, installation, integration, training, and support services with a highly skilled workforce throughout New England.
“We continue to expand our geographic presence to serve our growing customer base. The addition of GS Security Systems allows us better support customers in the New England market,” said Dan Moceri, Executive Chairman of Convergint Technologies. “We are excited to have all of the GS Security Systems colleagues join together with our existing team in New England” added Moceri.
“GS Security Systems represents Convergint’s fifth add-on acquisition since KRG’s partnership with management and is consistent with the Company’s strategic plan to expand through the acquisition of best-in-class security solutions providers in strategic geographic regions”, said Ted Nark, Managing Director of KRG.
KRG made an investment in Convergint in August 2012, representing the 12th of 15 platform company investments in KRG Fund IV. GS Security Systems represents KRG’s 215th acquisition since inception.
About Convergint Technologies: Convergint Technologies is an industry-leading global organization that designs, installs and services integrated building systems including electronic security, fire alarm and life safety, and building automation solutions. To learn more about Convergint visit www.convergint.com.
About KRG Capital Partners: Founded in 1996, KRG is a Denver based private equity buyout firm with $4.4 billion of cumulative capital either deployed or available for future investment, which includes approximately $1.1 billion deployed since inception by institutional equity co-investors. The Firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. For more information on KRG, please visit www.krgcapital.com.