Riverside Partners' Portfolio Company Convergence Networks Acquires SWAT Systems

BOSTON, Aug. 16, 2022 /PRNewswire/ -- Riverside Partners, a private equity investment firm, announced today that its portfolio company, Convergence Networks (the "Company"), has acquired SWAT Systems. Based in Seattle, SWAT Systems is a leading provider of managed IT, cybersecurity, and communication services for organizations across numerous end-markets. The SWAT Systems team, led by Jason Hagens and Dave Blake, has a long history of forming partnerships with clients to understand their organizations and support their technology needs.

"We are thrilled to welcome Jason, Dave, and the entire SWAT Systems team to the Convergence Networks family," said Mat Lafrance, CEO of Convergence Networks. "They are an excellent fit with the existing people-centric approach at Convergence Networks and further strengthens our deep bench of technical talent and geographic reach."

"SWAT Systems was founded over 20 years ago with the goal of eliminating IT headaches for those that use it every day," said Jason Hagens, founder and CEO of SWAT Systems. "Joining with Convergence Networks will allow us to maintain the culture that we have built at SWAT Systems and allow us to grow even faster as a combined organization."

"SWAT Systems is a great fit with the Convergence Networks platform," said David Del Papa, a General Partner at Riverside Partners. "Seattle has always been one of our top target markets for expansion and the combined company will be able to continue to differentiate itself as an organization that focuses on providing strategy, security, and support for its clients' technology challenges today and tomorrow."

"Over the course of Riverside Partners' investment in Convergence, the Company has grown both organically and through M&A," added David Belluck, a General Partner at Riverside Partners. "The acquisition of SWAT Systems is the next step in its growth. We are eager to support the combined team as they continue to build the Convergence Networks platform."

Financial terms of the transaction were not disclosed.

Convergence Networks is an award-winning managed IT and cybersecurity service provider. For over 20 years, it has been leading by example in IT and cybersecurity, empowering people to leverage technology securely. Whether clients are looking to co-manage or outsource their technology requirements, Convergence Networks will meet these business needs and be a guide as new industry requirements and demands happen. For more information, visit https://convergencenetworks.com/.

SWAT is a market-leading managed service provider that offers hardware, software, and technology support. Founded in 1999, SWAT focuses on managing customers' technology with top-tier service. During the past 20 years, SWAT has built a reputation as a leader in the Seattle metropolitan area for helping organizations across various end-markets. For more information, visit https://swatsystems.com/.

Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the technology and healthcare industries. Riverside Partners is particularly experienced at partnering with founders, owners, and management teams and brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.

SOURCE Riverside Partners