Cloud provider Converge secures private equity boost
Converge TS, the specialist provider of IT and cloud services to UK law firms, has secured private equity investment to support its growth ambitions.
Founded by managing director Nigel Wright in 2006, Converge TS provides mission critical managed cloud services to the legal sector including infrastructure as a service, hosting, business continuity as well as other managed IT and infrastructure services.
The company, which has a Cheshire head office in Daresbury and an additional base in London, has enjoyed over 50 per cent revenue growth year-on-year in the last three years, thanks to new client wins and an increased demand from existing customers.
Tenzing Private Equity has backed the incumbent senior management team, led by Nigel Wright and technical director Andrew Taylor.
"We are passionate about how we have grown Converge TS and are ambitious for the future of our business, and we feel Tenzing mirrors this vision," Wright said.
"Our strategy is based on a sustained quality service delivery which underpins our sector specific cloud solutions. Our goal is to become the No. 1 cloud provider to the UK legal sector within the next few years, achieved mainly by organic growth but also by selected strategic acquisitions. Beyond that we will be looking to broaden our portfolio offering and will be exploring international opportunities.
"The investment from Tenzing and support from Guy, Rob and the team, with input from their Entrepreneurs Panel, is going to accelerate the pace of growth at Converge TS and we're excited about the future."
Guy Gillon, co-founder and joint managing partner at Tenzing, added: "We're absolutely thrilled to have completed our investment in Converge TS at an exciting time in the company's development.
"Nigel, Andrew and their team are ambitious for future growth both here in the UK and in international markets. We’re very much looking forward to supporting them on this next stage of the Converge TS journey."