- Pellera Technologies, formed by the merger of Converge Technology Solutions and Mainline Information Systems, reports $4 billion in 2024 revenue.
- H.I.G. Capital, with $69 billion in assets under management, facilitates the acquisition and merger.
- Pellera focuses on cybersecurity, cloud, digital infrastructure, and AI, backed by H.I.G.'s investment.
H.I.G. Capital, a global investment powerhouse managing $69 billion in capital, has successfully completed the acquisition of Converge Technology Solutions, known under the ticker (TSX: CTS, OTCQX: CTSDF). This acquisition includes a strategic merger with Mainline Information Systems to create Pellera Technologies. The newly formed entity is set to be a major player in the IT solutions space, reporting a combined revenue of approximately $4 billion in 2024. Pellera is committed to enhancing its offerings in key technological areas such as cybersecurity, cloud computing, digital infrastructure, and artificial intelligence.
The headquarters of Pellera Technologies is located in Tallahassee, Florida. The organization boasts a robust leadership team led by Greg Berard, the former CEO of Converge Technology Solutions, who will now serve as CEO of Pellera. Jeff Dobbelaere from Mainline will assume the positions of President and COO, signifying a seamless integration of leadership skills and expertise from both companies.
This merger is strategically aligned to deliver enhanced IT solutions and services, leveraging the combined resources and capabilities of Converge and Mainline. With H.I.G.'s financial support, Pellera is poised to accelerate investments in cutting-edge technology to expand its service offerings, ensuring that it remains a provider of choice for comprehensive technology solutions.
H.I.G. Capital has engaged several financial advisors and legal firms to facilitate the transaction, including Guggenheim Securities, J.P. Morgan Securities, and Lazard Frères & Co., while Converge was advised by Canaccord Genuity and Goodmans LLP, among others. Looking forward, Pellera aims to capitalize on emerging technology trends and strengthen its leadership position in the IT services market.
