Ares Closes $850 Million Single-Asset Continuation Vehicle for Convergint Led by Leonard Green & Partners
MWN-AI** Summary
Ares Management Corporation (NYSE: ARES) has announced the successful closure of an $850 million single-asset continuation vehicle for Convergint Technologies, L.P., a leader in service-based systems integration. This initiative, primarily led by Leonard Green & Partners’ (LGP) Sage Fund, aims to invest in top-tier assets from other private equity sponsors. The collaboration highlights the confidence that Ares and LGP have in Convergint’s growth potential, particularly as the company benefits from increasing global demand for advanced security and safety solutions.
In addition to the continuation vehicle, Ares has made a significant new investment in Convergint, which places the firm in a shared control position with existing partners LGP and Harvest Partners. Convergint, with over 220 technology centers worldwide, has made notable strides since Ares initially invested in 2018, quadrupling its Adjusted EBITDA and executing more than 40 acquisitions.
“The strategic support for Convergint and our collaboration with LGP underscore the company’s robust growth trajectory and the strength of its business model,” states Matt Cwiertnia, Head of Ares Private Equity. Convergint CEO Ann Fandozzi echoed this sentiment, noting the company’s preparedness to help clients navigate complex risk environments fueled by technological advancements.
Both firms reiterated their commitment to Convergint’s leadership team and the company’s long-term growth strategies. The transaction was facilitated by financial advisors William Blair and Jefferies, with Kirkland & Ellis LLP and Weil, Gotshal & Manges LLP providing legal counsel to Ares and LGP, respectively.
This continuation vehicle exemplifies the ongoing partnership and mutual confidence between Ares, LGP, and Convergint, positioning the company for sustained growth in a rapidly evolving industry.
MWN-AI** Analysis
Ares Management Corporation’s recent closure of an $850 million single-asset continuation vehicle for Convergint Technologies highlights significant investment confidence in the tech-enabled security and safety solutions sector. This strategic move by Ares, alongside Leonard Green & Partners (LGP), signals a bullish outlook for companies like Convergint that are poised for robust growth.
Investors should consider the implications of increasing demand for security solutions fueled by heightened threat awareness and technological advancements. Convergint’s ability to quadruple adapted EBITDA since Ares first invested in 2018 demonstrates its effective growth trajectory, which includes over 40 acquisitions and strong organic growth. Such metrics reinforce the potential for future returns, making it an attractive opportunity for those seeking exposure to the services sector.
The partnership dynamics between Ares and LGP further strengthen the investment outlook. Both firms bring a deep understanding of infrastructure needs in various markets, creating synergies that could enhance Convergint’s operational efficiency. Investors should also note that the single-asset continuation vehicle allows both firms to consolidate their control, which can drive strategic initiatives and foster innovation.
However, potential investors must be cautious of the macroeconomic environment, including interest rate fluctuations and supply chain constraints that may affect growth in tech and security sectors. It’s essential to maintain a diversified portfolio and monitor market trends that could impact Convergint’s operational landscape.
In summary, while the closure of this continuation vehicle signals a promising development in Convergint’s journey, investors should conduct thorough due diligence and remain vigilant of external economic factors as they evaluate the viability of investing in related sectors. Overall, Convergint remains a high-potential play within the burgeoning tech-enabled services market.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today 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” or the “Company”), a global leader in service-based systems integration. The transaction was led and fully underwritten by Leonard Green & Partners’ (“LGP”) Sage Fund, which seeks to invest in industry-leading assets of other private equity sponsors through single-asset continuation vehicles. Vintage Strategies at Goldman Sachs Alternatives also invested in the continuation vehicle.
Alongside the continuation vehicle, an Ares Private Equity fund has made a substantial new investment in Convergint. Ares funds will continue to hold a shared control position in the Company alongside existing co-sponsors, LGP and Harvest Partners. This investment, in addition to the continuation vehicle, extends Ares’ partnership with Convergint as it aims to support the Company’s continued growth and success.
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, the Company has approximately quadrupled Adjusted EBITDA, delivered robust organic growth and executed over 40 acquisitions.
“We are excited to advance our strategic support for Convergint and build upon our existing relationship with LGP through this transaction, which underscores the consistent growth that Convergint has achieved as well as our conviction in its business model,” said Matt Cwiertnia, Head of Ares Private Equity and Chairman of Convergint’s Board of Managers. “As Convergint benefits from strong secular tailwinds driven by increasing threat awareness and advancements in technology, we remain highly confident in the Company’s growth playbook.”
“Convergint exemplifies the high-quality, industry-leading companies we aim to support through the Sage strategy, and we are pleased to expand our partnership with Ares by delivering this comprehensive capital solution,” said David Fox and Garrett Hall, Co-Heads of LGP’s Sage strategy. “We have strong conviction in Convergint’s leadership team, differentiated service-oriented model and sustained growth momentum, and we are excited to support the Company’s long-term value creation strategy.”
“This continuation vehicle underscores the conviction that Ares and LGP have in Convergint and the strength of our growth trajectory,” said Ann Fandozzi, Chief Executive Officer of Convergint. “As demand rises for providers with global scale, deep vertical expertise and strong local leadership, we believe we are well positioned to help customers navigate an increasingly complex risk environment.”
William Blair and Jefferies served as financial advisors to Ares on the transaction, and Kirkland & Ellis LLP served as legal counsel. Weil, Gotshal & Manges LLP served as legal counsel to LGP.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2025, Ares Management Corporation’s global platform had nearly $623 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com .
About Leonard Green & Partners (“LGP”)
Leonard Green & Partners, L.P. (“LGP”) is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $75 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. The firm primarily focuses on services, including consumer, healthcare, and business services, as well as distribution and industrials. For more information, please visit www.leonardgreen.com .
About Convergint
Convergint is a global leader in tech enabled security and safety solutions. The company offers design, implementation, integration, management, and service solutions around the globe. Its 11,000+ colleagues worldwide combine deep vertical expertise with global scale and local service to help customers navigate complex regulatory and compliance requirements with confidence. Convergint has been recognized as the #1 systems integrator in SDM Magazine’s Top Systems Integrators Report for the past 8 years and a U.S. News & World Report ‘Best Company to Work For.’ With over 220 locations worldwide, Convergint aspires to be its customers’ best service provider. To learn more about Convergint, visit www.convergint.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20260302507220/en/
Ares
media@aresmgmt.com
LGP
Communications@leonardgreen.com
Convergint
Julie Roehm
julie.roehm@convergint.com
FAQ**
How does Ares Management Corporation Class A ARES plan to leverage its recent investment in Convergint Technologies to further enhance its portfolio management strategies?
What specific factors contributed to Ares Management Corporation Class A ARES's conviction in Convergint's business model and growth trajectory?
In what ways might the partnership between Ares Management Corporation Class A ARES and Leonard Green & Partners influence future investment opportunities in the tech-enabled security sector?
How does Ares Management Corporation Class A ARES assess the long-term growth potential of Convergint Technologies given the increasing demand for security and safety solutions globally?
**MWN-AI FAQ is based on asking OpenAI questions about Ares Management Corporation Class A (NYSE: ARES).
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