- H.I.G. Capital successfully merges Converge Technology Solutions (OTCQX: CTSDF) and Mainline Information Systems to form Pellera Technologies.
- The new entity, Pellera, generated approximately $4 billion in revenue in 2024, focusing on cybersecurity, cloud, digital infrastructure, and AI.
- Supported by H.I.G.'s $69 billion portfolio, Pellera aims to enhance IT solutions delivery and accelerate growth in strategic tech areas.
H.I.G. Capital, a prominent global alternative investment firm, has announced the completion of its acquisition of Converge Technology Solutions (OTCQX: CTSDF) and the subsequent merger with Mainline Information Systems. The merger leads to the formation of a new entity named Pellera Technologies. The combined company established a substantial market presence with reported revenue of approximately $4 billion in 2024.
Pellera Technologies, headquartered in Tallahassee, Florida, will concentrate on delivering advanced IT solutions in key growth sectors such as cybersecurity, cloud computing, digital infrastructure, and artificial intelligence. The company is positioned to serve enterprise and mid-market clients, offering unparalleled technology expertise and solutions tailored to their needs.
Greg Berard, the former CEO of Converge, will lead Pellera as its CEO, while Jeff Dobbelaere of Mainline will serve as President and Chief Operating Officer. This dynamic leadership team brings over a century of combined experience in the IT industry, ensuring Pellera's capability to drive meaningful business outcomes through technology.
The merger reflects H.I.G. Capital's strategic initiative to integrate trusted and complementary IT solutions partners, thereby boosting service offerings and supporting growth in complex IT areas. With H.I.G.'s robust $69 billion capital management portfolio, Pellera is well-positioned to capitalize on emerging technology trends and expand its leadership in the IT market.
