During June 2022, VPEG4’s Investment Committee approved a $2 million co-investment, alongside Advent Partners 3 Fund into Integrated Control Technology (ICT).
In March 2022, Advent Partners 3 Fund announced the investment in Integrated Control Technology (ICT), a leading niche global provider of high-quality electronic access control and security solutions for residential and commercial properties.
Founded in 2003, ICT has grown to become a global provider of access control solutions, with a majority of the company’s revenue generated from exports to the US, Canada, Europe and Australia. ICT’s solutions includes best-of-breed hardware products such as controllers, card readers and keypads, with extensive functionality enabled by its proprietary software and third-party integrations.
ICT’s products are manufactured in-house at its head office in Auckland, New Zealand, and it employs ~230 staff, including an R&D team of ~75 staff based in Auckland. Despite established competitors in the market, ICT has been able to differentiate through its deep integrations with legacy products, extensive functionality, interoperability with third party products, and highly attractive price point.
