M&A Deal Summary

Convergent Capital Acquires Versare Solutions

On August 1, 2015, growth capital firm Convergent Capital acquired furniture company Versare Solutions

Acquisition Highlights
  • This is Convergent Capital’s 1st transaction in the Furniture sector.
  • This is Convergent Capital’s 54th transaction in the United States.
  • This is Convergent Capital’s 11th transaction in Minnesota.
Investment Fate
  • Versare Solutions was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2015-08-01
Target Versare Solutions
Sector Furniture
Buyer(s) Convergent Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Versare Solutions

Minneapolis, Minnesota, United States
website
Versare Solutions a manufacturer and e-commerce-based marketer of branded space efficiency and acoustical products. The company offers portable room partitions, privacy screens, workstations, and sound dampening products for use in a wide variety of applications and settings including schools, religious organizations, and healthcare facilities. Its branded products are manufactured at its Minneapolis headquarters and customizable to suit the needs of a highly diverse customer base.

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Buyer(S) 1

Buyer

Convergent Capital

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1998
PE ASSETS 225M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Convergent Capital is a private investment firm that provides growth and debenture financing to late-stage growth companies. Convergent prefers to commit $2 to $8 million per transaction in businesses with at least $5 million in revenues. Convergent is a generalist investor and will consider businesses in a wide range of industries. Investment funds are typically used to assist growth, but the firm can also structure investments around buyouts, recapitalizations, consolidations, and add-on acquisitions. Convergent is licensed as a SBIC. Convergent Capital was formed in 1998 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 54 of 54
Sector (Furniture) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 23 of 23
State (Minnesota) 11 of 11
Country (United States) 54 of 54
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Nutiva

Richmond, California, United States

Nutiva is a manufacturer and distributor of organic superfoods with products including hemp, coconut, chia, and red palm. Nutiva was founded in 1999 and is based in Richmond, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 ERP Power

Moorpark, California, United States

ERP Power LLC is a designer and manufacturer of energy-efficient LED driver power electronics for commercial and industrial applications. ERP Power was founded in 2004 and is based in Moorpark, California.

Sell -