ICT receives private equity investment
Australia-based private equity firm Advent Partners recently announced an investment in Integrated Control Technology (ICT), a provider of access control equipment and technology, via its new fund Advent Partners 3.
ICT is based in Auckland, New Zealand, with global operations including Canada, the U.S., Europe and Australia.
According to a post on the Advent Partners website, ICT “is now at an inflection point and is looking to accelerate its global expansion plans as customers increasingly seek best-of-breed access control solutions to support greenfield projects and transition legacy solutions.”
Advent partner Symon Vegter said in a statement, “Advent views this as a global expansion opportunity and can see a path to triple the size of the business.”
In a separate blog post on the ICT website, ICT’s founder and CEO Hayden Burr said, “I am excited to announce our partnership with Advent Partners as a strategic investor. Advent is a highly experienced investor in technology companies, bringing substantial knowledge and expertise, which will support the growth of the business globally and help accelerate the development of our leading integrated access control and security solutions.”
Burr also said ICT will continue to be managed by the existing leadership team with Burr continuing as CEO.
ICT was founded in New Zealand in 2003 by Hayden and Rachael Burr.