H.I.G. Capital Completes Acquisition of Converge Technology Solutions and Merger of Converge Technology Solutions and Mainline Information Systems to Form "Pellera Technologies"
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF) has been acquired by H.I.G. Capital, a global investment firm managing $69 billion in capital. The acquisition includes a merger with Mainline Information Systems, forming a new entity called Pellera Technologies.
The combined company generated approximately $4 billion in revenue in 2024 and will focus on delivering IT solutions in cybersecurity, cloud, digital infrastructure, and AI. Headquartered in Tallahassee, Florida, Pellera will be led by former Converge CEO Greg Berard as CEO, while Mainline's Jeff Dobbelaere will serve as President and COO.
The merger aims to enhance IT solutions and services, with H.I.G.'s support accelerating investments in key technology areas. The transaction was advised by multiple financial institutions, including Guggenheim Securities, J.P. Morgan Securities, and Lazard Frères & Co.
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF) è stata acquisita da H.I.G. Capital, una società di investimento globale che gestisce 69 miliardi di dollari di capitale. L'acquisizione comprende una fusione con Mainline Information Systems, dando vita a una nuova realtà chiamata Pellera Technologies.
La società combinata ha generato circa 4 miliardi di dollari di fatturato nel 2024 e si concentrerà sulla fornitura di soluzioni IT in ambito cybersecurity, cloud, infrastrutture digitali e intelligenza artificiale. Con sede a Tallahassee, Florida, Pellera sarà guidata dall’ex CEO di Converge, Greg Berard, nel ruolo di CEO, mentre Jeff Dobbelaere di Mainline ricoprirà la carica di Presidente e COO.
La fusione punta a potenziare le soluzioni e i servizi IT, con il supporto di H.I.G. che accelera gli investimenti nelle aree tecnologiche chiave. L’operazione è stata assistita da diverse istituzioni finanziarie, tra cui Guggenheim Securities, J.P. Morgan Securities e Lazard Frères & Co.
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF) ha sido adquirida por H.I.G. Capital, una firma global de inversión que administra 69 mil millones de dólares en capital. La adquisición incluye una fusión con Mainline Information Systems, formando una nueva entidad llamada Pellera Technologies.
La empresa combinada generó aproximadamente 4 mil millones de dólares en ingresos en 2024 y se enfocará en ofrecer soluciones de TI en ciberseguridad, nube, infraestructura digital e inteligencia artificial. Con sede en Tallahassee, Florida, Pellera estará dirigida por el ex CEO de Converge, Greg Berard, como CEO, mientras que Jeff Dobbelaere de Mainline será Presidente y COO.
La fusión tiene como objetivo mejorar las soluciones y servicios de TI, con el apoyo de H.I.G. para acelerar las inversiones en áreas tecnológicas clave. La transacción fue asesorada por varias instituciones financieras, incluyendo Guggenheim Securities, J.P. Morgan Securities y Lazard Frères & Co.
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF)는 690억 달러의 자본을 운용하는 글로벌 투자회사인 H.I.G. Capital에 인수되었습니다. 이번 인수에는 Mainline Information Systems와의 합병이 포함되어 Pellera Technologies라는 새로운 법인이 설립됩니다.
합병된 회사는 2024년에 약 40억 달러의 매출을 기록했으며 사이버보안, 클라우드, 디지털 인프라, AI 분야의 IT 솔루션 제공에 주력할 예정입니다. 본사는 플로리다주 탤러해시에 위치하며, Pellera의 CEO는 전 Converge CEO인 Greg Berard가 맡고, Mainline의 Jeff Dobbelaere가 사장 겸 COO로 활동합니다.
이번 합병은 IT 솔루션과 서비스를 강화하는 것을 목표로 하며, H.I.G.의 지원으로 핵심 기술 분야에 대한 투자가 가속화될 것입니다. 거래는 Guggenheim Securities, J.P. Morgan Securities, Lazard Frères & Co. 등 여러 금융기관의 자문을 받았습니다.
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF) a été rachetée par H.I.G. Capital, une société d’investissement mondiale gérant 69 milliards de dollars de capitaux. Cette acquisition comprend une fusion avec Mainline Information Systems, formant une nouvelle entité appelée Pellera Technologies.
La société combinée a généré environ 4 milliards de dollars de chiffre d’affaires en 2024 et se concentrera sur la fourniture de solutions informatiques en cybersécurité, cloud, infrastructures digitales et intelligence artificielle. Basée à Tallahassee, en Floride, Pellera sera dirigée par l’ancien CEO de Converge, Greg Berard, en tant que CEO, tandis que Jeff Dobbelaere de Mainline occupera les fonctions de Président et COO.
La fusion vise à renforcer les solutions et services IT, avec le soutien de H.I.G. pour accélérer les investissements dans les domaines technologiques clés. La transaction a été conseillée par plusieurs institutions financières, dont Guggenheim Securities, J.P. Morgan Securities et Lazard Frères & Co.
Converge Technology Solutions (TSX:CTS, OTCQX:CTSDF) wurde von H.I.G. Capital übernommen, einer globalen Investmentfirma, die 69 Milliarden US-Dollar Kapital verwaltet. Die Übernahme umfasst eine Fusion mit Mainline Information Systems, wodurch eine neue Gesellschaft namens Pellera Technologies entsteht.
Das kombinierte Unternehmen erzielte im Jahr 2024 einen Umsatz von etwa 4 Milliarden US-Dollar und wird sich auf IT-Lösungen in den Bereichen Cybersicherheit, Cloud, digitale Infrastruktur und KI konzentrieren. Der Hauptsitz von Pellera befindet sich in Tallahassee, Florida. Als CEO wird der ehemalige Converge-CEO Greg Berard fungieren, während Jeff Dobbelaere von Mainline als Präsident und COO tätig sein wird.
Die Fusion zielt darauf ab, IT-Lösungen und -Dienstleistungen zu verbessern, wobei H.I.G. die Investitionen in wichtige Technologiebereiche beschleunigt. Die Transaktion wurde von mehreren Finanzinstituten beraten, darunter Guggenheim Securities, J.P. Morgan Securities und Lazard Frères & Co.
- Formation of a $4 billion revenue company through merger
- Strategic expansion into key growth areas: cybersecurity, cloud, AI
- Backing from H.I.G. Capital ($69B AUM) provides financial strength
- Enhanced service offerings through combined expertise and resources
- Integration risks between Converge and Mainline operations
- Delisting of Converge from public markets (TSX, OTCQX)
- Potential organizational restructuring uncertainties
Pellera stands at the forefront of delivering innovative IT solutions to enterprise and mid-market clients. The combined company's deep technical expertise, strategic focus, and collaborative approach have enabled their customers to achieve impactful business outcomes through the power of technology. Pro forma for the combination, Pellera generated approximately
Headquartered in
Greg Berard, Chief Executive Officer of Pellera, said: "We're combining the bold vision, unmatched talent, innovative solutions, and trusted partnerships of Mainline and Converge to deliver differentiated value and elevate the customer experience. With H.I.G.'s support, we're accelerating investments in areas like AI, cybersecurity, hybrid cloud, app modernization, data, and managed services, with the goal of becoming the provider of choice for comprehensive technology solutions."
Jeff Dobbelaere, President and Chief Operating Officer of Pellera, said: "We are thrilled to join forces as we enter the next phase in our growth journey. Together, we have stronger relationships with our industry-leading partners, unlocking greater access and broader solutions for our clients. The business is poised to create more growth opportunities for our employees and enhance the value we deliver as dedicated partners on our customers' teams. We will continue to innovate, bring creative solutions, and generate an enduring transfer of expertise in every engagement."
Aaron Tolson, Managing Director at H.I.G., added: "We are excited to integrate two trusted and complementary IT solutions partners to boost service offerings and accelerate growth in complex and strategic areas of IT. The combined business offers enhanced IT solutions and services that will enable customers to continue reaching the next level. As part of the H.I.G. portfolio, Pellera is well-positioned to capitalize on emerging technology trends and expand its leadership within the IT market."
H.I.G. was advised by Guggenheim Securities, LLC, J.P. Morgan Securities, LLC, Lazard Frères & Co. LLC, BMO Capital Markets, Stikeman Elliott LLP and Weil, Gotshal & Manges LLP. Canaccord Genuity acted as lead financial advisor to Converge and its Board. Houlihan Lokey Capital was engaged as financial advisor to the Special Committee of Converge (the "Special Committee"), and Origin Merchant Partners was engaged as an independent financial advisor and provided a fairness opinion to the Special Committee. Goodmans LLP acted as legal advisor to Converge.
About Pellera Technologies
Pellera Technologies is where innovation powers progress. Through the combined expertise of Converge Technology Solutions and Mainline Information Systems, we deliver unparalleled IT solutions that drive momentum for enterprise clients worldwide. Our comprehensive suite of digital infrastructure, hybrid cloud, cybersecurity, and artificial intelligence solutions transforms challenges into opportunities and shapes a future where businesses can thrive. Guided by our AIM (Advise, Implement, Manage) methodology, we ensure solutions are tailored to your specific needs, aligning seamlessly with existing systems to drive success without complexity. At Pellera, we don't just keep you moving forward, we help you scale without limits.
H.I.G. is a leading global alternative investment firm with
- H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets.
- H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of
Forward Looking Information
This press release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts". "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Specifically, statements regarding the anticipated benefits of the transactions for Converge, Mainline or Pellera, their employees, business partners, shareholders and other stakeholders, including, plans, objectives, expectations and intentions of H.I.G., Converge or Pellera; and other statements that are not statements of historical facts are considered forward-looking information.
The forward-looking information are based on management's opinions, estimates and assumptions. While these opinions, estimates and assumptions are considered by H.I.G, Converge, Mainline and Pellera to be appropriate and reasonable in the circumstances as of the date of this press release, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
The forward looking information are subject to significant risks including, without limitation: significant transaction costs or unknown liabilities; the failure to realize the expected benefits of the transactions; the effect of the transactions on the ability of Converge, Mainline or Pellera to retain and hire key personnel and maintain business relationships with customers, suppliers and others with whom they each do business, or on Converge, Mainline or Pellera's operating results; the inherent risks, costs and uncertainties associated with transitioning the business successfully and risks of not achieving all or any of the anticipated benefits of the transactions, or the risk that the anticipated benefits of the transactions may not be fully realized or take longer to realize than expected.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although H.I.G, Converge, Mainline and Pellera have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to them or that they presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.
There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents H.I.G, Converge, Mainline and Pellera's expectations as of the date specified herein and are subject to change after such date. However, H.I.G, Converge, Mainline and Pellera disclaims any intention or obligation or undertaking to update or revise any forward-looking information or to publicly announce the results of any revisions to any of those statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
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SOURCE Converge Technology Solutions Corp.
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