Osborne Clarke has advised UK mid-market investor, Tenzing Private Equity, on its investment in Converge-IT.Net Ltd (‘Converge TS’), the specialist provider of managed and hosted IT services to the UK legal sector.
Tenzing is an independent private equity firm, based in London that targets buyout investments in high growth businesses, valued between £10m and £75m, across the UK and Ireland. Founded in January 2015, the firm invests in niche market leaders and challenger businesses across a broad range of industry sectors.
Founded in 2006, Converge TS is a specialist provider of hosted and managed IT services through private cloud. It provides mission critical managed cloud services to the UK legal sector including Infrastructure as a Service, Hosting, Business Continuity as well as other managed IT and infrastructure services.
Converge TS has achieved exceptional organic growth – over 50% revenue growth year on year in the last three years – through new client wins and an increased demand for services from its existing client base. Converge TS works closely with software application vendors and is a key hosting partner for LexisNexis and a Thomson Reuters Elite Alliance Partner.
The Osborne Clarke Private Equity team who advised on the transaction was led by Partner Tim Hewens (picture) who was assisted by Associate Director Ken Wilkinson and Associates Sara McDiamond and Kate Robinson with support from specialists across the firm.
Converge TS was advised by Clearwater International, Ward Hadaway and CLB Coopers.
Involved fees earner: Nigel van Zyl – Proskauer Rose LLP; Edward Lee – Proskauer Rose LLP; Qasam Mahmood – Proskauer Rose LLP; Prishanthin Govender – Proskauer Rose LLP; David Tegeler – Proskauer Rose LLP; Samuel Mirkin – Proskauer Rose LLP; Catherine Sear – Proskauer Rose LLP; Daniella Abel – Proskauer Rose LLP; Mary Kuusisto – Proskauer Rose LLP; Alec Campbell – Proskauer Rose LLP; Adam Scoll – Proskauer Rose LLP; John Verwey – Proskauer Rose LLP; Tim Hewens – Osborne Clarke; Kate Robinson – Osborne Clarke; Sara McDiamond – Osborne Clarke; Ken Wilkinson – Osborne Clarke;