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M&A Deal Summary

H.I.G. Private Equity Acquires Converge Technology Solutions

On February 7, 2025, private equity firm H.I.G. Private Equity acquired information technology company Converge Technology Solutions for 1.3B CAD

Acquisition Highlights
  • This is H.I.G. Private Equity’s 27th transaction in the Information Technology sector.
  • This is H.I.G. Private Equity’s 2nd largest (disclosed) transaction.
  • This is H.I.G. Private Equity’s 16th transaction in Canada.
  • This is H.I.G. Private Equity’s 8th transaction in Ontario.

M&A Deal Summary
Date 2025-02-07
Target Converge Technology Solutions
Sector Information Technology
Buyer(s) H.I.G. Private Equity
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 1.3B CAD
Advisor(s) Canaccord Genuity
Origin Merchant Partners (Financial)
Goodmans (Legal)

Target

Converge Technology Solutions

Toronto, Ontario, Canada
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.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.

DEAL STATS #
Overall 375 of 379
Sector (Information Technology) 27 of 28
Type (Buyout (LBO, MBO, MBI)) 115 of 116
State (Ontario) 8 of 8
Country (Canada) 16 of 16
Year (2025) 4 of 8
Size (of disclosed) 2 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-03 Soleo Health

Frisco, Texas, United States

Soleo Health is a national provider of complex specialty pharmacy and infusion services, administered in the home or at alternate sites of care. Soleo Health’s interdisciplinary team, comprised of experienced clinical pharmacists and registered nurses, utilizes a consistent patient management process, which leads to quantifiable clinical and economic value while improving patients’ experience. Soleo Health was founded in 2014 and is based in Frisco, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-03 Timetoact Group

Cologne, Germany

Timetoact Group is an IT consultancy and services provider that comprises nine specialist brands in 16 locations across Germany, Austria, and Switzerland: ARS, CLOUDPILOTS, edcom, GIS, IPG, novaCapta, synaigy, TIMETOACT, and X-INTEGRATE. The group offers its clients a comprehensive range of IT service solutions in the area of a digital workplace, process automation & optimisation, business intelligence, identity & access management as well as customer experience. The group’s clients primarily include medium-sized businesses as well as large corporations in the industrial, financial, and service sectors as well as public sector institutions. Timetoact Group is based in Cologne, Germany.

Buy -
Mergr

Product

Company

Legal