### Press Release

Three Sixty Capital Partners are proud to have brought ICT and Advent together, a fantastic outcome.

Australian private equity firm Advent Partners has taken a stake in intelligent access control systems company Integrated Control Technology and committed to try to help the business grow globally.

Advent Partners will take the stake via its newly Advent Partners 3 fund, which has about $400 million in commitments and is still raising.

Advent’s Symon Vegter and Robert Radcliffe-Smith oversaw the ICT deal.

ICT was founded in 2003 and its products helps commercial property managers, owners and their tenants control access and detect intrusion.

The company is based in Auckland and has operations in New Zealand, the United States, Canada, Europe and Australia.

Advent Partners expects its capital injection to help ICT pick up a larger slice of the global access control market, which it says is worth $11 billion a year and expected to grow at 9 per cent a year in the coming five years.

“Advent views this as a global expansion opportunity and can see a path to triple the size of the business,” Advent’s Vegter said in a statement to Street Talk.

Radcliffe-Smith said it was a similar investment for Advent to its former stake in technology products for water utilities, oil and gas businesses SCADAGroup, which grew five times in value under the firm’s ownership.

ICT founders Hayden and Rachael Burr will continue to run the business and remain invested.

Three Sixty Capital Partners, PwC, EY, ctoLabs and MinterEllisonRuddWatts advised on the deal.

It’s Advent’s third investment in a New Zealand-based company in the past two years. The others were SaaS business Medtech Global and trade revenue management software company Flintfox.

Advent typically takes stakes in companies worth up to $150 million, targeting those with a clear path to growth over the coming three to five years.

For more information, please contact: Greg Young, at greg.young@360capital.co.nz, +64 21 775 388

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AFR Article

For more information contact:

Greg Young
Three Sixty Capital Partners
Email: greg.young@360capital.co.nz
Phone: +64 21 775 388