Clearlake Capital Acquires MSP ConvergeOne

ConvergeOne has found itself a new home — under the roof of Clearlake Capital Group, a private equity firm. Clearlake announced its acquisition of the Eagan, Minn.-based managed service provider (MSP) this week from Genstar Capital, a San Francisco-based private equity firm that bought the company back in 2007. The financial terms of the deal were not disclosed.

“We are excited to partner with the talented management team of ConvergeOne as we make a significant investment in the company,” Clearlake founding partner Behdad Eghbali said in a statement.

ConvergeOne is known for leveraging partnerships with well-known technology partners such as Avaya, Cisco (CSC), IBM, Interactive Intelligence and Microsoft (MSFT).

The company said it has more than 4,100 customers in various verticals, including financial, technology, healthcare and energy.

ConvergeOne CEO John McKenna said in a prepared statement that the company “enjoyed a great partnership with Genstar.”

“We look forward to partnering with Clearlake to continue to differentiate the Company by focusing on managed services and innovative technology solutions,” he said. “Clearlake’s proven track record and substantial resources will be instrumental in adding lasting value to our business.”

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