Add-on Acquisition • Information Technology

Converge Technology Solutions Acquires Stone Group

On September 22, 2022, Converge Technology Solutions acquired information technology company Stone Group from Souter Investments Limited

Acquisition Context
  • This is Converge Technology Solutions’ 24th transaction in the Information Technology sector.
  • This is Converge Technology Solutions’ 1st transaction in the United Kingdom.

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M&A Deal Summary

Date September 22, 2022
Target Stone Group
Sector Information Technology
Buyer(s) Converge Technology Solutions
Sellers(s) Souter Investments Limited
Deal Type Add-on Acquisition

Target Company

Stone Group

Staffordshire, United Kingdom
Stone Group is a provider of Circular IT solutions for education institutions, as well as public and private sector organizations. Stone Group was founded in 1991 and is based in Staffordshire, United Kingdom.
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Buyer Overview 1

Buyer

Converge Technology Solutions

Toronto, Ontario, Canada

Category Company
Sector Information Technology
Revenue 2.7B CAD (2023)
DESCRIPTION

Converge Technology Solutions 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 Context for Buyer #
Overall 33 of 33
Sector: Information Technology 24 of 24
Type: Add-on Acquisition 33 of 33
Country: United Kingdom 1 of 1
Year: 2022 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 Newcomp Analytics

Thornhill, Ontario, Canada

Newcomp Analytics is an analytics-driven organization focused on providing solutions specific to business needs by creating an analytics roadmap to long-term success. Newcomp Analytics helps reduce the complexity of big data and provides organizations with the tools needed to tackle projects. Newcomp Analytics was founded in 1986 and is based in Thornhill, Ontario.

Buy -

Seller Profile 1

DESCRIPTION

Souter Investments is a family office focused on private equity investing throughout the UK. The Firm looks to commit £2 to £30 million to support a variety of transaction situations including buyouts, growth capital financings, corporate divestitures, and balance sheet restructurings. Broad areas of interest include transportation, luxury goods, financial services, healthcare, and business services. Souter Investments was established in 2008 and is based in Edinburgh, Scotland.


Deal Context for Seller #
Overall 10 of 12
Sector: Information Technology 1 of 2
Type: Add-on Acquisition 3 of 5
Country: United Kingdom 8 of 10
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-13 Leader 96

Plovdiv, Bulgaria

Leader 96 is a producer of e-bikes in Europe with sales across the continent. Leader 96 produces a broad range of e-bikes including touring, trekking, mountain, folding, and gravel bike models. Leader 96 was founded in 1996 and is based in Plovdiv, Bulgaria.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Amey

London, United Kingdom

Amey is an infrastructure services and engineering company helping the economy to grow by designing, maintaining, and transforming the nation’s strategic assets. The company’s unique engineering and operations experience, together with data-driven insight from its consulting business, delivers better results for our clients. Amey is based in London, United Kingdom.

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