Affiliates of U.K.-based private equity firm CVC Capital Partners Ltd.'s CVC Fund VII completed their offer to acquire all outstanding shares of ConvergeOne Holdings Inc. for $12.50 per share in cash.
The tender offer for the shares expired Jan. 3, and as of the expiration, approximately 97.48% of ConvergeOne's common stock had been validly tendered and not withdrawn. Remaining shares of ConvergeOne, which provides collaboration and technology services to large and medium-sized U.S. companies, that were not purchased in the offer will be converted into the right to receive the same per-share payment in cash.
Raymond James & Associates and William Blair served as ConvergeOne's financial advisers, while Raymond James & Associates, William Blair and Jefferies LLC provided fairness opinions to ConvergeOne's board of directors, and Cooley LLP served as the company's legal counsel.
Deutsche Bank and UBS Investment Bank were financial advisers to CVC Capital Partners, and White & Case LLP served as the firm's legal counsel in the deal.