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Harris Williams Advises Convergint Technologies on its Investment from Leonard Green & Partners, L.P. and Harvest Partners, LP
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Harris Williams advised Convergint Technologies, backed by Ares Management Corporation (ARES), on an investment from Leonard Green & Partners and Harvest Partners. Convergint, a $1.8 billion global leader in systems integration, specializes in electronic security and fire safety. The addition of these investors is expected to enhance Convergint's resources and capabilities, supporting exceptional customer service and colleague development. Ares Management manages approximately $282 billion in assets, while Leonard Green has over $50 billion in assets under management.
Positive
Convergint Technologies is a $1.8 billion global leader in systems integration.
Partnership with Leonard Green & Partners and Harvest Partners enhances resources and capabilities for Convergint.
Ares Management Corporation has approximately $282 billion in assets under management, indicating strong financial backing.
Negative
None.
RICHMOND, Va.--(BUSINESS WIRE)--
Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Convergint Technologies (Convergint), a portfolio company of the Private Equity Group of Ares Management Corporation (NYSE: ARES; Ares), on its investment from Leonard Green & Partners, L.P. (LGP) and funds managed by Harvest Partners, LP (Harvest). Convergint is a global leader in service-based systems integration. Bob Baltimore, Derek Lewis, Brian Lucas, Graham Gillam, David Shim and Brian Holden of the Harris Williams Business Services Group worked on the transaction.
“Building on the foundation that was set with Ares, the addition of LGP and Harvest will continue to add resources and capabilities to the Convergint platform. This will help continue their longstanding track record of fostering the development of its colleagues and delivering outstanding service to its customers,” said Bob Baltimore, a managing director at Harris Williams.
“This transaction highlights the ongoing strong interest from investors for world-class services platforms in the commercial and industrial sector, particularly for industry leaders delivering non-discretionary services and exceptional customer service,” added Graham Gillam, a director at Harris Williams.
Convergint is a $1.8 billion global, industry-leading systems integrator that designs, installs, and services electronic security, cybersecurity, fire and life safety, building automation, and audio-visual systems. Listed as the number one systems integrator in SDM Magazine’s Top Systems Integrators Report for the past four years, Convergint leads with over 7,100 colleagues and more than 150 locations worldwide.
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. Ares Management Corporation seeks to provide flexible capital to support businesses and create value for its stakeholders and within its communities. By collaborating across investment groups, Ares Management Corporation aims to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2021, Ares Management Corporation’s global platform had approximately $282 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East.
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business and healthcare services, as well as retail, distribution and industrials.
Founded in 1981, Harvest is an established New York-based private equity investment firm that focuses on investments in middle market companies in the business services and industrial services, consumer, healthcare, industrials, and software industries. Harvest's control strategy leverages the firm's 40 years of experience in financing organic and acquisition-oriented growth.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Business Services Group has experience advising companies that provide a range of commercial, industrial and professional services. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co.Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co.Corporate Finance Advisors GmbH conduct business.
