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02/2025100%LBO

Converge Technology Solutions acquired by HIG Capital

CANADA IT Services / Consulting & Integration EV CAD 1–10bn

Context

H.I.G. Capital has entered into a definitive arrangement agreement to acquire all outstanding common shares of Converge Technology Solutions. The strategic rationale for the transaction centers on the immediate merger of Converge with Mainline Information Systems, an existing H.I.G. portfolio company. This combination is designed to create a scaled, global IT solutions platform with enhanced capabilities in hybrid cloud, cybersecurity, and digital infrastructure. By joining these two complementary organizations, the resulting entity will possess the technical depth and global reach required to advise IT decision-makers on mission-critical workloads. The deal provides a significant premium to public shareholders while transitioning the company to private ownership to facilitate a long-term growth strategy. The merger is expected to strengthen relationships with global OEM partners and provide a broader suite of professional and managed services to a combined customer base across North America and Europe.

Converge Technology Solutions, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, representing a discount to the average observed in the TMT (Tech, Media, Telecom) sector (14.8x in 2025).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Converge Technology Solutions Corp. is a services-led, software-enabled IT and cloud solutions provider. The business model is centered on a proprietary methodology (Advise, Implement, Manage) designed to address complex digital transformation challenges. The company specializes in the design and delivery of outcomes-driven solutions across advanced analytics, artificial intelligence, cloud platforms, cybersecurity, and digital infrastructure. By positioning itself as a strategic intermediary between global technology manufacturers and enterprise clients, the company serves as a high-value advisor for organizations seeking to streamline operations and modernize workplace environments through technical innovation. Founded in 2017, the organization focuses on a human-centered approach to IT, leveraging global resources and localized expertise to implement forward-thinking digital ecosystems for a diverse range of industries.

Ent. Value

CAD 1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (CAD)

Year
Rev
EBITDA
EBIT
2024
CAD 1–10bn
CAD 100–200M
[members only]
2023
CAD 1–10bn
CAD 100–200M
[members only]

Other operations with HIG Capital

Other operations with HIG Capital
DateAcquirerTargetCountrySector
09/2026HIG CAPITALARCOUNITED KINGDOMIndustrial & Technical Distribution
07/2026HIG CAPITALTERRAS GROUPGERMANYRailways
05/2026HIG CAPITALINTERNATIONAL AEROSPACE COATINGS IACUNITED STATESMRO (Maintenance, Repair & Overhaul)
10/2025HIG CAPITALADVANCED LOGISTICS FOR AEROSPACE (ALA)ITALYIndustrial & Technical Distribution
09/2025HIG CAPITALRENTOKIL INITIAL WORKWEAR FRANCEFRANCEIndustrial Cleaning
03/2025HIG CAPITALTIMETOACT GROUPGERMANYConsulting & Integration
03/2024HIG CAPITALSTRADAUNITED STATESHR & Capital
01/2024HIG CAPITALDX GROUPUNITED KINGDOMRoad Freight
03/2023HIG CAPITALANDWIS GROUPUNITED KINGDOMMaintenance
02/2022HIG CAPITALBERARDI BULLONERIEITALYIndustrial & Technical Distribution

Similar deals in IT Services

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DateAcquirerTargetCountrySector
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03/2025HIG CAPITALTIMETOACT GROUPGERMANYConsulting & Integration
12/2024RIVEAN CAPITALVALCONNETHERLANDSConsulting & Integration
11/2024EURAZEOEOWINFRANCEIT Services
11/2024OAKLEY CAPITAL INVESTMENTS / EURAZEO / SAGARDI-TRACINGFRANCECybersecurity Services
11/2024ASTORGREDSLIMSWITZERLANDData & AI Consulting
09/2024BLACKSTONE / CPP INVESTMENTSAIRTRUNKAUSTRALIAHosting / Datacenter
06/2024DIGITALBRIDGE / SILVER LAKEVANTAGE DATA CENTERSUNITED STATESHosting / Datacenter
04/2024CLAYTON, DUBILIER & RICE (CD&R)PRESIDIOUNITED STATESConsulting & Integration
04/20243ICONSTELLATIONFRANCEInfrastructure & Cloud

REFERENCES

Valuation range: EV CAD 1–10bn

Revenue range: CAD 1–10bn

EBITDA range: CAD 100–200M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Converge Technology Solutions by HIG Capital are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: hig capital

FAQ

What transaction does this page cover?

This page covers HIG Capital’s acquisition of 100% of Converge Technology Solutions, a Canadian company specialised in Consulting & Integration, in 2025, structured as a leveraged buyout (LBO).

How was the acquisition of Converge Technology Solutions by HIG Capital valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the CAD 1–10bn band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Converge Technology Solutions’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Converge Technology Solutions generated annual revenue estimated in the CAD 1–10bn range and EBITDA in the CAD 100–200M bracket (FY 2024). Detailed financial figures are available to members.

How does the valuation of Converge Technology Solutions compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

The estimated multiple of 5x - 12x sits below the sector median of 14.8x recorded in 2025, indicating an attractive entry multiple for HIG Capital or reflecting specific complexities. The descriptive comparison is based on 15 transactions with available EV/EBITDA multiples from differences in size, growth, profitability that may affect comparability.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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