Osborne Clarke advises Tenzing on its investment in Converge TS

International legal practice Osborne Clarke has advised UK mid-market investor, Tenzing Private Equity, on its investment in Converge-IT.Net Ltd (‘Converge TS’), the specialist provider of managed and hosted IT services to the UK legal sector.

Tenzing is an independent private equity firm, based in London that targets buyout investments in high growth businesses, valued between £10m and £75m, across the UK and Ireland. Founded in January 2015, the firm invests in niche market leaders and challenger businesses across a broad range of industry sectors.

Founded in 2006, 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.

Converge TS 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 works closely with software application vendors and is a key hosting partner for LexisNexis and a Thomson Reuters Elite Alliance Partner.

The transaction is the first time Osborne Clarke has acted for Tenzing but the private equity house is a long-time client of lead client partner Tim Hewens.

Guy Gillon, co-Founder and joint Managing Partner at Tenzing, commented: “We’re absolutely delighted to have completed our investment in Converge TS at an exciting time in the company’s development. Throughout the transaction we’ve really benefitted from Tim and the private equity team’s advice and support. Having a specialist team to work with us on the transaction ensured that the legal process was very quick and efficient from exclusivity to completion.”

The Osborne Clarke Private Equity team who advised on the transaction was led by Partner Tim Hewens who was assisted by Associate Director Ken Wilkinson and Associates Sara McDiamond and Kate Robinson with support from specialists across the firm.