Triton invests in ACRE
Triton will invest alongside the current management team of ACRE
March 16, 2021 By SP&T Staff
Funds advised by Triton signed an agreement to acquire ACRE. Triton will invest alongside the current management team of ACRE.
ACRE’s previous majority investor, LLR Partners, who has partnered with the company since 2013, will exit the business. Houlihan Lokey acted as exclusive financial advisor to ACRE and LLR Partners.
The financial terms of the transaction were not disclosed.
“We look forward to actively supporting the management and employees of ACRE as a stable owner by investing in the growth and development of the company,” Peder Prahl, director of the General Partner for the Triton funds, said in a prepared statement. “Our industry expertise and international network will further strengthen ACRE’s position as a leading global provider of intelligent electronic security solutions.”
“As we reach our next stage of growth and strive to hit new milestones, we are pleased to welcome Triton as the partner to help us expand our presence and capabilities organically and via new acquisitions,” Joseph Grillo, ACRE’s CEO, stated. “This partnership will allow us to continue to invest in innovation and bring our market-leading solutions to customers.”
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