On February 7, 2025, H.I.G. Capital announced its agreement to acquire Converge Technology Solutions Corp. in an all-cash transaction. Shareholders will receive C$5.50 per share, representing a 56% premium over the closing price and a 57% premium over the 30-day volume-weighted average price as of February 6, 2025. The deal values Converge at approximately C$1.3 billion.

The Board of Directors of Converge unanimously approved the transaction, with one interested director abstaining. Shareholders holding about 24% of the company's outstanding shares have entered into voting support agreements favoring the deal. Upon completion, expected in the second quarter of 2025, Converge plans to delist from public markets and cease reporting under Canadian securities laws. The company will merge with H.I.G.-owned Mainline Information Systems, expanding offerings in cybersecurity, cloud computing, and digital infrastructure. Converge CEO Greg Berard will lead the combined entity as Chief Executive Officer, while Mainline CEO Jeff Dobbelaere will serve as President.

Advisors for the transaction include Canaccord Genuity Corp. as lead financial advisor to Converge, Houlihan Lokey Capital, Inc. advising the Special Committee, and Origin Merchant Partners providing a fairness opinion. Goodmans LLP is acting as legal counsel to Converge, with Weil, Gotshal & Manges LLP and Stikeman Elliott LLP advising H.I.G.