Houlihan Lokey is pleased to announce the sale of Strategic Products and Services LLC (SPS), a portfolio company of Court Square Capital Partners, to ConvergeOne, a Clearlake Capital Group (Clearlake) portfolio company. The transaction closed on August 16, 2017.
SPS is a global, multi-vendor unified communications (UC) systems integrator and managed services provider offering strategy, consulting, implementation, support, and outsourced networking services for interconnected communication systems, including telephone, video/multimedia, mobility, and customer experience. Through its offices and data centers across North America and internationally, SPS partners with global industry leaders, including Avaya, Cisco, Microsoft, and Polycom, among others, in order to enable clients to optimize their business communications with on-site, hosted, and cloud-based solutions. The company was founded in 1988 and is headquartered in Parsippany, New Jersey.
ConvergeOne is a national communications and data technology solutions provider. It provides one source for comprehensive multi-vendor solutions—from initial design and implementation through ongoing consulting, technical support, and managed services across the spectrum of IT and UC. ConvergeOne was acquired by Clearlake in June 2014 and is headquartered in Eagan, Minnesota.
Clearlake is a private investment firm that focuses on investments in the software and technology, industrials, and consumer sectors. Clearlake currently has over $4 billion of assets under management, and its senior investment principals have led or co-led over 90 investments. Clearlake was founded in 2006 and is headquartered in Santa Monica, California.
Houlihan Lokey served as the exclusive sellside advisor to SPS and assisted in marketing, structuring, and negotiating the transaction on its behalf.