Convergint Technologies, a KRG Fund IV portfolio company and independent provider of integration services for electronic security, fire and life safety, and building automation systems in North America, announced its acquisition of China-based ICD Security Systems. Founded in 1997, ICD is a leading value-added security solutions provider serving global Fortune 500 companies by providing world class security services including system design, integration, support, and training. ICD possesses a highly skilled workforce of over two hundred professionals located in ten offices and operating in seven countries throughout the Pacific Rim.
Convergint continues to experience rapid growth and is dedicated to continuing its acquisition strategy that includes bolstering its geographic coverage and partnering with strong integrators that allow Convergint to better serve the needs of its multi-national customers.
“ICD is an important acquisition for Convergint. It is a significant step in the ongoing execution of the Company's strategic plan which was created by the management team and KRG at the time of our initial investment in 2012,” said Ted Nark, Managing Director of KRG. KRG made an investment in Convergint in August 2012, representing the 12th of 14 platform company investments to date in KRG's $1.96 billion Fund IV. ICD is KRG's 186th acquisition since inception.