William Blair advises ConvergeOne Holdings, Inc.

Thursday, November 8, 2018

CVC pending acquisition of ConvergeOne

William Blair acted as financial advisor to ConvergeOne Holdings, Inc. (Nasdaq: CVON), a leading global IT and managed services provider of collaboration and technology solutions, in connection with its pending sale to affiliates of CVC Capital Partners ("CVC"), a leading global private equity and investment advisory firm. Clearlake Capital Group, L.P., who is the majority shareholder and private equity sponsor of ConvergeOne, has agreed to tender its shares as part of the transaction. The acquisition was announced on November 6, 2018 and is expected to close in the fourth quarter of 2018 or the first quarter of 2019.

Transaction Highlights

  • Trusted guidance: William Blair has developed a long-term and trusted advisory relationship with the board and management team of ConvergeOne. William Blair served as the exclusive financial advisor to ConvergeOne Holdings Corp. on its sale in June 2014 to Clearlake and as financial advisor on the business combination with Forum Merger Corporation, resulting in ConvergeOne’s debut on NASDAQ in February 2018.
  • Deep relationships and industry expertise: ConvergeOne was attracted to William Blair’s extensive knowledge and experience in communications solutions and services as well as recent transaction experience and strong relationships and insights into the most likely strategic and financial acquirers of the company.
  • Public company advisory expertise: William Blair’s significant public company advisory and M&A expertise was instrumental in the process. William Blair was integrally involved in orchestrating a competitive and efficient process for ConvergeOne and delivered an exceptional outcome for the shareholders.

About the Companies

Founded in 1993, ConvergeOne is a leading global IT services provider of collaboration and technology solutions for large and medium enterprises with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 10,400 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions to achieve business outcomes. ConvergeOne’s investments in cloud infrastructure and managed services provide transformational opportunities for customers to achieve financial and operational benefits with leading technologies. ConvergeOne is based in Eagan, Minnesota with numerous offices across North America.

Clearlake is a leading private investment firm founded in 2006. The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $8 billion of institutional capital since inception, and its senior investment principals have led or co-led over 100 investments.

CVC is a leading private equity and investment advisory firm. Founded in 1981, CVC has a network of 24 offices and approximately 450 employees throughout Europe, Asia and the United States. CVC currently manages over $70 billion of assets and funds managed or advised by CVC are invested in 71 companies worldwide, employing approximately 295,000 people in numerous countries.

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