Genstar Capital Completes Sale of ConvergeOne

News provided by

Jun 18, 2014, 07:01 ET

SAN FRANCISCO, June 18, 2014 /PRNewswire/ -- Genstar Capital, a leading middle market private equity firm that focuses on investments in targeted segments of the software, financial services, healthcare, and industrial technology industries, today announced the completion of the previously announced sale of its portfolio company ConvergeOne, a leading independent provider of innovative communications solutions and managed services to enterprises globally, to Clearlake Capital.

Acquired by Genstar in 2007, ConvergeOne offers one source for comprehensive multivendor solutions – from initial design and implementation through ongoing consulting, technical support, and managed services across the spectrum of IT, contact center solutions, and unified communications. ConvergeOne maintains strategic relationships with global solution leaders, including Avaya, Cisco Systems, IBM, Interactive Intelligence, and Microsoft. ConvergeOne has more than 4,100 customers, including 46 percent of the Fortune 100 companies, operating in virtually every industry, including the financial, technology/communications, healthcare, and energy sectors.

Mark D. Hanson, Genstar Operating Partner, said, "We are pleased to have built this strong platform and positioned it for continued growth. We continue to evaluate a robust pipeline of investments in the software sector and look forward to applying our expertise in new opportunities to transform businesses into industry leaders."

About ConvergeOne
ConvergeOne, headquartered in Eagan, MN, is a leading independent provider of data, communications, collaboration, and customer interaction solutions and managed services. The company provides essential consulting and project management services related to custom design, installation, implementation, maintenance, and managed services of best-in-class data and communication solutions. ConvergeOne offers a "one-stop" destination for its broad spectrum of valued customer relationships, providing in-depth technical expertise and total solution focus. Custom services include converged networks and unified communication solutions, call centers, system design, implementation, integration, maintenance, data storage and archiving, and other managed services. www.converge-one.com

About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $2.6 billion of committed capital under management and targets investments focused on selected sectors within the financial services, software, healthcare, and industrial technology industries.

Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334

SOURCE Genstar Capital