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New Deal


Announced

Converge Technology Solutions to acquire Stone Technologies Group from Souter Investments and RJD Partners.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

Single Bidder

Friendly

Majority

Cross Border

Private Equity

Private

IT Services: Other

ict services

United Kingdom

Acquisition

Synopsis

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Converge Technology Solutions, a software-enabled IT & cloud solutions provider, agreed to acquire Stone Technologies Group, a supplier of computer parts and peripherals, from investments firms Souter Investments and RJD Partners. Financial terms were not disclosed. "We are delighted to be joining the Converge family. As a growing organization with a strong team and great platform for significant expansion in the UK and Europe, joining Converge is a benefit for both our clients and Stone employees. Becoming part of Converge will strengthen our ability to deliver an expanded technology portfolio and support the diverse needs of our clients. Additionally, there is a great cultural fit and the team at Converge will be fully aligned with our environmental and sustainability mission," Simon Harbridge, Stone Technologies CEO.

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