FOR IMMEDIATE RELEASE
Genstar Acquires ConvergeOne, Expands Reach for S1 IT Solutions
Boise, ID, June 4, 2007 — Genstar Capital, LLC, yesterday announced that it has partnered with management to acquire ConvergeOne, one of the largest providers of independent business communications solutions in the United States and whose family of companies includes S1 IT Solutions.
Based in San Francisco, Genstar (www.gencp.com) is a middle market private equity firm that focuses on investments in selected segments of life science and healthcare services, industrial technology, business services, and software sectors.
ConvergeOne (www.converge-one.com), headquartered in Coatesville, PA, is a leading value added solutions provider (VASP). Its family of national VASPs offers comprehensive consulting and project management services for the design, installation, implementation, and maintenance of communication solutions, primarily for mid-sized and enterprise businesses.
“This acquisition represents an outstanding opportunity to continue building ConvergeOne’s national leadership in the business communications market as more customers migrate to consolidated Voice over Internet Protocol (VoIP) platforms,” according to John Stuart, founder and CEO of ConvergeOne, who will continue to lead the company with the existing management team. “ Genstar’s experience in the industry and ability to help us build scale and enhance services were key factors in our decision to partner with them.”
As part of the ConvergeOne family, S1 IT Solutions provides seamless, high-value solutions that enhance information management across a network. S1 offers technical expertise and solution leadership across a wide array of voice and data technologies. S1 IT Solutions is headquartered in Boise, ID, with regional offices in Vancouver, WA, Salt Lake City, UT, Sacramento, CA and will continue to be headed by its CEO and founder, Steven W. Sells.
“ Genstar’s investment in ConvergeOne will enable S1 to broaden our geographic reach, to help us serve more customers,” said Sells. “It will put more resources at our disposal, to deepen our technical skills and enhance our maintenance and services capabilities — ultimately, allowing us to achieve further growth.”
In addition to the strategic relationship with Avaya, the ConvergeOne family of VASPs has strategic alliances with other global solution leaders, including IBM, Cisco, Microsoft, and EMC. Each of ConvergeOne’s three operating companies — NACR (Eagan, MN, www.nacr.com), Combest (Atlanta, GA, www.combest.com), and S1 IT Solutions— and subsequent acquisitions will continue to be led by their respective management.