Investment Summary

Leonard Green & Partners and Harvest Partners Private Equity Invest In Convergint

On December 16, 2021, private equity firms Leonard Green & Partners and Harvest Partners Private Equity invested in safety/security company Convergint from Ares Private Equity Group

Investment Highlights
  • This is Leonard Green & Partners’ 2nd and Harvest Partners Private Equity’s 1st transaction in the Safety/Security sector.
  • This is Leonard Green & Partners’ 79th and Harvest Partners Private Equity’s 43rd transaction in the United States.
  • This is Leonard Green & Partners’ 5th and Harvest Partners Private Equity’s 4th transaction in Illinois.

Investment Summary

Date 2021-12-16
Target Convergint
Sector Safety/Security
Investor(s) Leonard Green & Partners
Harvest Partners Private Equity
Sellers(s) Ares Private Equity Group
Deal Type Stake Purchase
Advisor(s) William Blair
Harris Williams & Co.
J.P. Morgan Securities (Financial)

Target

Convergint

Schaumburg, Illinois, United States
website
Convergint is a designer, installer, and services integrated building systems including electronic security, fire alarm, and life safety systems. Convergint was founded in 2001 and is based in Schaumburg, Illinois.

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Investor(S) 2

Investor

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 84 of 88
Sector (Safety/Security) 2 of 2
Type (Stake Purchase) 7 of 7
State (Illinois) 5 of 5
Country (United States) 79 of 81
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-30 Velvet Taco

Plano, Texas, United States

Velvet Taco is a restaurant concept set out to elevate through globally-inspired recipes and the freshest ingredients. The acclaimed restaurant provides a broad sampling of international tastes and inventive combinations, delivering flavors that are as memorable as they are delicious. Formed in 2011, Velvet Taco has almost 30 locations in Texas, North Carolina, Georgia, Illinois, Tennessee, and Oklahoma.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-11 Pace

Minneapolis, Minnesota, United States

Pace is a provider of analytical testing and related outsourced scientific solutions to the life sciences industry. The company has built a nationwide network of over 65 analytical testing laboratories, 8 life sciences labs, and more than 45 service centers. Pace's Analytical Services division provides full-service testing, sampling, and analytical support services to detect trace-level organic and inorganic contaminants in air, water, wastewater, soil, biota, and waste. Pace's Life Sciences division provides a wide variety of testing services for the biopharmaceutical, pharmaceutical, medical device, and drug-device industries as well as early-stage drug development and manufacturing services with a broad range of pre-clinical and clinical capabilities for both small and large molecules. Pace was formed in 1978 and is based in Minneapolis, Minnesota.

Buy -
Investor

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 46 of 49
Sector (Safety/Security) 1 of 2
Type (Stake Purchase) 2 of 2
State (Illinois) 4 of 4
Country (United States) 43 of 46
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 Fortis Solutions Group

Merced, California, United States

Fortis Solutions Group provides a differentiated approach by giving customers a powerful advantage in the marketplace through industry-leading lead times, quality control, color management, and solution-oriented approaches. The company delivers a breadth of product offerings utilizing outstanding flexographic, letterpress, offset, and digital printing capabilities. These offerings include pressure-sensitive and shrink sleeve labels, multi-ply coupon, and flexible packaging printing, extended booklet printing, pouches, folding cartons, label applicators, and variable data printing. Formed in 2010, Fortis Solutions Group was and is headquartered in Virginia Beach, VA, and also has manufacturing and sales offices in Austin, TX; Catoosa, OK; Ellington, CT; Flowery Branch, GA; High Point, NC; Kansas City, MO; Lewisville, TX; Marietta, GA; Memphis, TN; Merced, CA; Napa, CA; Orem, UT; West Chester, OH; Whitefish, MT; and Wixom, MI.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 Hand and Stone Franchise

Trevose, Pennsylvania, United States

Hand and Stone Franchise through its franchisees offer a comprehensive range of massage, facial and hair removal services along with complementary product offerings. Hand and Stone Franchise was founded in 2004 and is based in Trevose, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.


DEAL STATS #
Overall 41 of 43
Sector (Safety/Security) 1 of 1
Type (Stake Purchase) 1 of 1
State (Illinois) 3 of 3
Country (United States) 37 of 39
Year (2021) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Navisun

Hingham, Massachusetts, United States

Navisun is distributed generation solar power producer that acquires, co-develops, constructs, finances, owns and operates distributed and small utility-scale solar and storage projects throughout the United States. Navisun was founded in 2017 and is based in Hingham, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-20 SLR Consulting

Buckinghamshire, United Kingdom

SLR Consulting is a provider of environmental consultancy services to public and private sector clients. SLR Consulting was founded in 1994 and is based in Buckinghamshire, United Kingdom.

Buy -