Clearlake Capital Group Completes Acquisition of ConvergeOne
EAGAN, Minn., June 18, 2014-- Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and ConvergeOne today announced that Clearlake has completed the acquisition of ConvergeOne, a leading independent provider of innovative communications solutions and managed services to enterprises globally. Terms were not disclosed.
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.
“As global opportunities continue on a strong trajectory, ConvergeOne is uniquely positioned to serve the large and growing unified communications market, while further expanding our service offering and technology capabilities with the added investment from Clearlake,” said John McKenna, Chairman and CEO of ConvergeOne. “As communications infrastructure becomes increasingly complex, we will continue to be the leader in providing best-in-class solutions and value-added services to customers worldwide.”
“With its customer centric culture, innovative technology solutions and leading managed services offering, ConvergeOne is uniquely positioned to grow organically and benefit from significant investment as an acquisition platform,” said Behdad Eghbali, a Founding Partner of Clearlake. “We are excited to partner with the ConvergeOne management team and its many talented employees as the company prepares for its next phase of growth.”
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of equity capital, and Clearlake’s founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, software and technology. For more information, please visit www.clearlakecapital.com.
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. For more information, please visit www.converge-one.com.
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