Scura Paley & Company Advises Annese & Associates in its Sale to ConvergeOne
ALBANY, N.Y., Aug. 2, 2017 /PRNewswire/ -- Annese & Associates, Inc. ("Annese"), a leading regionally-focused IT technology solutions provider delivering Professional and Managed Services, including cloud, mobility, security, data center virtualization, and collaboration, announced its sale to ConvergeOne, a global IT service provider of collaboration and technology solutions for large and medium enterprises. ConvergeOne is a portfolio company of private investment firm Clearlake Capital Group. Scura Paley served as exclusive financial advisor to Annese in this transaction.
Scura Paley worked with Annese to review its strategic alternatives and business operations with the goal of identifying, attracting and securing the optimal partner for its continued successful focus on serving its customers and employees with the highest degree of integrity. Ray Apy, CEO of Annese, commented:
"We were very fortunate to have engaged Scura Paley. Their knowledge of our industry, and extensive contacts within it proved so valuable as they were able to quickly connect us with a strategic partner that was a perfect fit for our company values, culture and business strategy. I was amazed from the first meeting at how the Scura Paley team shared knowledge and how deep that knowledge was. Moreover, they demonstrated incredible attention to detail along with a level of professionalism that is hard to find in any industry. The care and commitment to the Annese shareholders, board, myself and by extension to all of our employees was simply outstanding."
About Annese & Associates
Founded in 1970, Annese & Associates is a leading New York-based technology solutions provider delivering Professional and Managed Services, including cloud, mobility, security, data center virtualization, and collaboration to a broad base of customers in industries including education (K-12 and Higher), commercial, healthcare, state and local government, and financial. www.annese.com
About ConvergeOne
ConvergeOne is a leading global IT service provider of collaboration and technology solutions for large and medium enterprise with decades of experience assisting customers to transform their digital infrastructure and realize a return on investment. Over 5,700 enterprise and mid-market customers trust ConvergeOne with collaboration, enterprise networking, data center, cloud and security solutions. www.convergeone.com
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm founded in 2006. The firm's core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has over $4 billion of assets under management. www.clearlake.com
About Scura Paley & Company
Scura Paley is a private investment banking firm, based in New York City, providing M&A advisory and capital raising services, with a focus on emerging growth, technology, business to business services and financial companies. Scura Paley's partners have an average of over twenty-five years of experience in a broad array of industries, providing nearly every investment banking product and service to their clients.
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