Converge Technologies

Canaccord Genuity Acts as Lead Financial Advisor to Converge Technology Solutions on its Announced C$1.3 Billion Sale to H.I.G. Capital

Canaccord Genuity is pleased to announce that on February 6, 2025, its client, Converge Technology Solutions Corp. ("Converge" or the "Company"), entered into an arrangement agreement with H.I.G. Capital (“H.I.G.”) whereby H.I.G. has agreed to acquire all of the issued and outstanding shares of the Company (the “Transaction”).

 The Transaction provides immediate liquidity and certainty of value to Converge shareholders at an attractive all-cash purchase price of C$5.50 per share, representing approximately 56% and 57% respective premiums to the closing price and 30-day volume weighted average price of the shares on the TSX prior to the announcement of the Transaction. The purchase price of the Transaction values Converge at an enterprise value of approximately C$1.3 billion. Shareholders representing 24% of Converge’s outstanding shares have entered into voting support agreements in favor of the transaction.

 Additionally, as a result of the Transaction, Converge will join the current H.I.G. owned entity, Mainline Information Systems (“Mainline”). Converge and Mainline offer complementary products and services, and their joining will permit the combined companies’ to better serve customers with a broader and more diverse variety of solutions in areas such as cybersecurity, cloud, and digital infrastructure.

 Since 2017, Converge has focused on delivering outcomes-driven solutions that tackle human-centered challenges. As a services-led, software-enabled, IT & Cloud Solutions provider, Converge combines deep expertise, local connections, and global resources to deliver industry-leading solutions.

 H.I.G. Capital is a leading global alternative investment firm with $59 billion of capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, and Stamford in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Luxembourg, Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused / value-added approach. 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 $53 billion.