M&A Deal Summary

Converge Technology Solutions Acquires Paragon Development System

On January 10, 2022, Converge Technology Solutions acquired information technology company Paragon Development System from Mason Wells

Acquisition Highlights
  • This is Converge Technology Solutions’ 18th transaction in the Information Technology sector.
  • This is Converge Technology Solutions’ 18th transaction in the United States.
  • This is Converge Technology Solutions’ 1st transaction in Wisconsin.

M&A Deal Summary

Date 2022-01-10
Target Paragon Development System
Sector Information Technology
Buyer(s) Converge Technology Solutions
Sellers(s) Mason Wells
Deal Type Add-on Acquisition

Target

Paragon Development System

Oconomowoc, Wisconsin, United States
website
Paragon Development System is an information technology integrator that provides hardware, software, and services to medium and large healthcare, government, education, and corporate customers that have enterprise-class IT infrastructures. Paragon Development System was founded in 1986 and is based in Oconomowoc, Wisconsin.

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Buyer(S) 1

Buyer

Converge Technology Solutions

Toronto, Ontario, Canada

website


Category Company
Sector Information Technology
DESCRIPTION

Converge Technology Solutions Corp. is a provides a platform of regionally-focused Hybrid IT solutions providers to enhance their ability to provide multi-cloud solutions, blockchain, resiliency, and managed services. Converge Technology Solutions is based in Toronto, Ontario.


DEAL STATS #
Overall 23 of 33
Sector (Information Technology) 18 of 24
Type (Add-on Acquisition) 23 of 33
State (Wisconsin) 1 of 1
Country (United States) 18 of 20
Year (2022) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 LPA

Rochester, New York, United States

LPA provides consulting and professional services for AI, Business Intelligence (BI), Location Intelligence, Predictive Analytics, IoT, Geomapping, Data Prep, and Data Cleansing. LPA is based in Rochester, New York.

Buy CA$12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-09 VisuCom

Walzbachtal, Germany

Visucom partners with clients in education and the public sector by offering data video projectors and the installation and maintenance of blackboards. The company is a trusted supplier of professional screens, interactive blackboards, loudspeakers, cameras, projectors, displays, and media controls. Visucom was formed in 1987 and is based in Walzbachtal, Germany.

Buy -

Seller(S) 1

SELLER

Mason Wells

Milwaukee, Wisconsin, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Mason Wells is a private equity firm focused on middle-market buyout opportunities in the Midwest US. Mason Wells looks to invest in businesses operating in engineered products and services, outsourced business services, and specialty packaging. Target companies typically generate revenue of $25 to $300 million and EBITDA of at least $5 million. The Firm prefers businesses with high barriers to entry, limited customer concentration, and strong market positions. Mason Wells was originally formed 1982 as a subsidiary of Marshall & Ilsley Corporation and became an independent firm in 1998. Mason Wells is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 39 of 39
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 24 of 24
State (Wisconsin) 21 of 21
Country (United States) 37 of 37
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Ornua Ingredients North America

Whitehall, Wisconsin, United States

Ornua Ingredients North America is a manufacturer of custom analog and processed cheese ingredients and products for industrial, food service, and retail markets. Ornua Ingredients North America was founded in 1994 and is based in Whitehall, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-18 Accord

Alsip, Illinois, United States

Accord designs and manufactures custom folding cartons for private label and branded consumer goods, primarily serving food and beverage end markets. Accord is based in Alsip, Illinois.

Buy -