Capstone Headwaters, a leading international investment banking firm, announced today that it has successfully advised SI Technologies on its acquisition by Convergint Technologies, a portfolio company of Ares Capital. The terms of the transaction were not disclosed.
SI Technologies, headquartered Albany NY, is a leading security systems integrator focused exclusively on solutions for commercial and government customers. The Company offers the most sophisticated suite of products throughout upstate New York with offices in Buffalo, Syracuse and Rochester.
Convergint, is a global, service-based systems integrator that designs, installs, and services integrated building systems, including electronic security, fire alarm, and life safety systems in more than 80 locations across four continents. With around 20 acquisitions since 2016, the company has strategically grown its service footprint in the United States, Canada and Europe by acquiring regional market leaders. Founded in 2002, the integrator has grown to employ more than 3,400 colleagues as the business continues to expand its security offerings and geographic footprint.
Joe Masciocco, President of SI Technologies, said
“Security is a serious and critical business, and SI Technologies has always been proud of our contribution to the safety of our nation. Joining Convergint is the fitting next step in our evolution. It will offer new opportunities to our dedicated colleagues and greatly increase the scope of services we can provide to our loyal customers.”
“We had interviewed six investment banking firms and were taken with the breadth of expertise and experience the Capstone Headwaters team would bring to the transaction. They were our true partners throughout the process offering outstanding advice and assistance at every step. We wouldn’t have been successful without them.”
Ken Lochiatto, CEO of Convergint Technologies, added
"Joe Masciocco and Jerry Mirochnik have built a strong business that is a natural fit with our customers and culture. We're excited to build on Convergint's mission to be our customers' best service provider. SI Technologies helps us further strengthen our rapidly growing reach and capabilities in the northeast, while bringing us a strong culture of service."
Todd McMahon, Managing Director at Capstone Headwaters, commented
“We’re thrilled to have advised SI Technologies on the sale of their company to Convergint. We believe both companies are a perfect match. This is clearly a win-win for all sides."