H.I.G. Capital creates $4bn IT services group with Converge and Mainline merger

H.I.G. Capital has completed the merger of two information technology companies to create a $4bn revenue enterprise under the new brand name “Pellera Technologies”, the latest in a series of strategic transactions by the Miami-based alternative investment firm.

The private equity group, which manages $69bn in capital, announced on April 22 that it had finalised the acquisition of Toronto-listed Converge Technology Solutions and combined it with Mainline Information Systems, an existing H.I.G. portfolio company. The transaction creates a premier technology solutions provider with substantial capabilities in cybersecurity, cloud infrastructure, and artificial intelligence.

“We’re combining the bold vision, unmatched talent, innovative solutions, and trusted partnerships of Mainline and Converge to deliver differentiated value and elevate the customer experience,” said Greg Berard, chief executive of Pellera, who previously led Converge.

The newly formed Pellera will be headquartered in Tallahassee, Florida, with Converge’s Berard serving as chief executive while Mainline’s Jeff Dobbelaere assumes the role of president and chief operating officer.

H.I.G. indicated that the combined entity generated approximately $4bn in revenue in 2024, positioning it as a significant player in North America’s fragmented IT services market. The transaction represents a substantial bet on the growing demand for advanced technology solutions in areas such as cybersecurity and artificial intelligence.

“We are excited to integrate two trusted and complementary IT solutions partners to boost service offerings and accelerate growth in complex and strategic IT areas,” said Aaron Tolson, managing director at H.I.G.

The Pellera transaction marks the latest in an active period of dealmaking for H.I.G. Capital in 2025. Earlier this year, the firm completed the sale of Soleo Health, a specialty pharmacy and infusion services provider, to funds managed by Court Square Capital and WindRose Health Investors.

In February, H.I.G. signed an agreement to take a strategic stake in the HELLER Group, a German machine tool manufacturer with over 2,600 employees and five production facilities across Europe, Asia, and the Americas. The investment aims to support a transformation programme initiated by HELLER’s management.

H.I.G. has also been active in expanding its European real estate holdings through multiple acquisitions. In April, the firm acquired logistics properties in France’s Paris and Lyon metropolitan areas, comprising approximately 50,000 square metres of warehouse space.

The logistics acquisition follows investments in the life sciences sector, including Radio House and St. Andrew’s House, an 85,000 square foot innovation campus in Cambridge, UK, and a strategic partnership with Queen Mary BioEnterprises Innovation Centre to develop 40,000 square feet of incubator space in London.

“RHSAH represents a significant step in our strategy to invest in high-growth sectors in Europe,” said Riccardo Dallolio, head of H.I.G. Realty in Europe, regarding the Cambridge acquisition.

The firm has also expanded into the education sector through an investment in Intellego Education, a European operator of private anglophonic schools, and acquired a controlling stake in The Grounds Real Estate Development AG, a German property developer with significant holdings in Berlin.

In the services sector, H.I.G. completed a strategic investment in 360 Destination Group and CSI DMC in March, creating a merged entity positioned to provide event management services across 46 destinations globally.

Earlier this month, the firm announced its acquisition of Quisitive Technology Solutions, a Microsoft Cloud and AI solutions provider with nearly 500 employees. The transaction further strengthens H.I.G.’s position in the technology services sector.

Most recently, H.I.G. completed a strategic investment in GetixHealth, a provider of revenue cycle management solutions to healthcare institutions. The company offers a comprehensive suite of services including patient responsibility management, eligibility and enrollment, and insurance billing.

Founded in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. Its current portfolio includes more than 100 companies with combined sales exceeding $53bn across multiple sectors including manufacturing, healthcare, technology, and real estate.

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