Clearwater International UK has advised specialist provider of managed and hosted IT services to the UK legal sector Converge-IT.Net Ltd (Converge TS) on its significant investment from Tenzing Private Equity.
Founded in 2006 by MD Nigel Wright, Converge TS is a specialist provider of hosted and managed IT services through private cloud. It provides mission critical managed cloud services to the UK legal sector including Infrastructure as a Service, Hosting, Business Continuity as well as other managed IT and infrastructure services. The business has achieved exceptional organic growth – over 50% revenue growth year on year in the last three years – through new client wins and an increased demand for services from its existing client base.
Converge TS differentiates itself in the legal sector via a deep knowledge of legal IT infrastructure requirements and the applications used by law firms together with an understanding of clients’ compliance and security priorities. Clients are increasingly hosting their systems off-site to enable flexible working, eliminate investment in hardware and bolster security against cybercrime with robust IT solutions.
Tenzing has backed the incumbent senior management team, led by founder MD Nigel Wright and Technical Director, Andrew Taylor. The Tenzing team and its Entrepreneurs Panel will support the company with product development whilst supporting a continued investment in sales and developing its acquisition and international strategy.
The Clearwater International team was led by Partner Carl Houghton with support from Directors Emma Rodgers and Wesley Fell-Smith, Senior Associate Finn O’Driscoll and Associate Kirsten Handley.
Nigel Wright, Founder and MD, Converge TS said: “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. 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, Tenzing, commented: “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.”
Carl Houghton, Partner and head of TMT, Clearwater International added: “Converge TS is the latest in a string of successful hosting deals we have completed at Clearwater International. Its market leadership in the legal sector was one of the key attractions to potential investors, and Tenzing has very much bought into the vision that management has to develop the company.”