Converge Technology Solutions Acquired by H.I.G. Capital, Forms Pellera Technologies
Deal News | Apr 22, 2025 | PR Newswire Cision Converge Technology Solutions Corp.
H.I.G. Capital, a leading global alternative investment firm, has successfully completed the acquisition of Converge Technology Solutions Corp., merging it with Mainline Information Systems to create Pellera Technologies. This merger consolidates both entities into a unified IT solutions provider with significant influence in the field, generating approximately $4 billion in pro forma revenue in 2024. Pellera Technologies will focus on delivering IT solutions across key growth areas such as cybersecurity, cloud computing, digital infrastructure, and artificial intelligence. Led by CEO Greg Berard and President & COO Jeff Dobbelaere, Pellera is poised to accelerate its offerings and expand its leadership in the market leveraging H.I.G. Capital's extensive resources. Financial advisors like Guggenheim Securities and J.P. Morgan were instrumental in facilitating the deal.
Sectors
- Information Technology
- Private Equity
Geography
- Canada – Converge Technology Solutions Corp. is based in Gatineau, QC, Canada.
- United States – Mainline Information Systems and the newly formed Pellera Technologies are based in Tallahassee, Florida. H.I.G. Capital also has a significant presence in the US.
Industry
- Information Technology – The article revolves around IT solutions and technology companies (Converge Technology Solutions and Mainline Information Systems) merging to form Pellera Technologies.
- Private Equity – H.I.G. Capital, a private equity firm, is central to the acquisition and merger discussed in the article.
Financials
- 69 billion – Capital under management by H.I.G. Capital.
- 4 billion – Pro forma revenue generated by Pellera Technologies in 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Converge Technology Solutions Corp. | Target Company | Company | A technology solutions company providing IT services. |
| H.I.G. Capital | Bidding Company | Company | A leading global alternative investment firm managing $69 billion of capital. |
| Mainline Information Systems, LLC | H.I.G. Portfolio Company | Company | An IT solutions provider and H.I.G. Capital's existing portfolio company. |
| Pellera Technologies | Combined Entity | Company | The resultant company from the merger of Converge and Mainline, focusing on IT solutions. |
| Greg Berard | CEO of Pellera | Person | Former CEO of Converge, now leading Pellera Technologies. |
| Jeff Dobbelaere | President and COO of Pellera | Person | Former President and CEO of Mainline, now serving at Pellera Technologies. |
| Guggenheim Securities, LLC | Financial Advisor to H.I.G. | Company | Investment bank advising H.I.G. on the transaction. |
| J.P. Morgan Securities, LLC | Financial Advisor to H.I.G. | Company | Financial advisory firm aiding H.I.G. |
| Lazard Frères & Co. LLC | Financial Advisor to H.I.G. | Company | Provided financial advisory services to H.I.G. |
| BMO Capital Markets | Financial Advisor | Company | Advised on the financial aspects of the acquisition. |
| Canaccord Genuity | Lead Financial Advisor to Converge | Company | Provided financial advisory services to Converge. |
| Houlihan Lokey Capital | Financial Advisor to Converge Special Committee | Company | Advised the Special Committee of Converge on the deal. |
| Origin Merchant Partners | Independent Financial Advisor | Company | Provided a fairness opinion to Converge's Special Committee. |
| Goodmans LLP | Legal Advisor to Converge | Company | Legal advisory for Converge during the transaction. |