Houlihan Lokey Advises Converge Technology Solutions

Houlihan Lokey is pleased to announce that Converge Technology Solutions Corp. (Converge) has successfully completed the previously announced acquisition of all of its issued and outstanding common shares by an affiliate of H.I.G. Capital (H.I.G.), a leading global alternative investment firm with $69 billion of capital under management. The purchase price of the transaction values Converge at an enterprise value of approximately C$1.3 billion. In connection with the closing, Converge will merge with Mainline Information Systems, LLC (Mainline), an existing H.I.G. portfolio company. The combined company has been rebranded as Pellera Technologies (Pellera), representing its distinctive position in the market as a premier technology partner.

Pellera stands at the forefront of delivering innovative IT solutions to enterprise and middle-market clients. The combined company’s deep technical expertise, strategic focus, and collaborative approach have enabled its customers to achieve impactful business outcomes through the power of technology. Pro forma for the combination, Pellera generated approximately $4 billion in revenue in 2024 and will provide unparalleled technology expertise to its customers in critical growth areas, including cybersecurity, cloud, digital infrastructure, and AI.

Headquartered in Tallahassee, Florida, the new organization will be led by a dynamic and experienced leadership team with more than a century of combined experience in the IT industry. Converge Chief Executive Officer Greg Berard will serve as Chief Executive Officer of Pellera, while Mainline President and CEO Jeff Dobbelaere will assume the role of President and Chief Operating Officer. This collaboration reflects the best of both organizations, ensuring the strength and capability of Pellera to achieve meaningful results.

Houlihan Lokey was engaged as the financial advisor to the special committee of Converge. The transaction highlights Houlihan Lokey’s continued strength in the technology and IT services sectors.

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