H.I.G. Capital Unveils $4 Billion Tech Powerhouse with Pellera Merger
Merger of Converge and Mainline under Pellera Technologies signals H.I.G. Capital’s bold expansion in tech, creating a $4B IT leader with AI, cloud, and cybersecurity strength.
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The creation of Pellera Technologies marks a milestone in H.I.G.’s dynamic 2025 strategy, combining Converge and Mainline to reshape North America’s IT services landscape.
H.I.G. Capital Creates $4bn IT Services Group with Converge and Mainline Merger
H.I.G. Capital has launched a major new force in the IT services sector by merging Converge Technology Solutions and Mainline Information Systems into a $4 billion revenue enterprise under the new brand, Pellera Technologies. This strategic move is the latest in a wave of transformative investments by the Miami-based alternative investment giant, which now manages over $69 billion in capital.
The announcement, made on April 22, underscores H.I.G.’s ambitious plans to redefine technology solutions through bold acquisitions and strategic integrations. The Pellera deal brings together two respected players in IT—Toronto-listed Converge, and Mainline, an existing H.I.G. portfolio company—creating a comprehensive tech solutions provider with advanced capabilities across 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, CEO of Pellera and former head of Converge.
Pellera Technologies will be headquartered in Tallahassee, Florida, with Greg Berard as Chief Executive Officer and Mainline’s Jeff Dobbelaere stepping in as President and Chief Operating Officer. The combined entity reported approximately $4 billion in revenue in 2024, positioning Pellera as a serious contender in the increasingly fragmented North American IT services landscape.
According to Aaron Tolson, Managing Director at H.I.G., “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.”
A Year of Strategic Dealmaking for H.I.G.
The formation of Pellera Technologies is a highlight in what has already been an active and diverse year of transactions for H.I.G. Capital.
In the healthcare sector, the firm finalized the sale of Soleo Health, a specialty pharmacy and infusion services provider, to funds managed by Court Square Capital and WindRose Health Investors.
Meanwhile, in Europe, H.I.G. expanded its industrial footprint by taking a strategic stake in HELLER Group, a leading German machine tool manufacturer, with over 2,600 employees and operations across Europe, Asia, and the Americas. This investment supports an internal transformation plan led by HELLER’s management.
H.I.G. also continues to make bold moves in real estate. In April, the firm acquired logistics properties in the Paris and Lyon regions, totaling around 50,000 square meters of warehouse space. In Cambridge, UK, H.I.G. bolstered its life sciences portfolio with the acquisition of Radio House and St. Andrew’s House, an 85,000-square-foot innovation campus. The firm also partnered with Queen Mary BioEnterprises Innovation Centre to develop 40,000 square feet of additional 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.
Further diversifying its holdings, H.I.G. invested in Intellego Education, a European private school operator, and took a controlling stake in The Grounds Real Estate Development AG, a Berlin-based property developer with substantial assets.
In the hospitality and events industry, H.I.G. completed a strategic merger between 360 Destination Group and CSI DMC, forming a global event management company with a presence in 46 destinations.
And in early May, H.I.G. added to its tech sector dominance by acquiring Quisitive Technology Solutions, a Microsoft Cloud and AI solutions provider employing nearly 500 people. Soon after, the firm made a strategic investment in GetixHealth, a healthcare revenue cycle management provider offering patient responsibility management, insurance billing, and enrollment services.
A Legacy of Innovation and Growth
Since its founding in 1993, H.I.G. Capital has invested in more than 400 companies globally, with its current portfolio comprising over 100 businesses generating more than $53 billion in sales. The firm’s presence spans diverse industries including manufacturing, healthcare, technology, education, hospitality, and real estate.
The creation of Pellera Technologies not only represents a key milestone in H.I.G.’s ongoing expansion but also reflects a deeper strategy of investing in scalable, innovative platforms that lead their sectors.
As the IT landscape evolves, Pellera Technologies is poised to offer enterprise clients a robust, unified solution suite driven by innovation and backed by decades of combined expertise.
With an agile approach to dealmaking and a proven track record of transformation, H.I.G. Capital continues to cement its reputation as one of the most forward-looking private equity firms in the global market.
