D.A. Davidson & Co. announced today that it has served as exclusive financial advisor to Convergence Training in its sale to Vector Solutions.
Headquartered in Vancouver, Wash., Convergence Training is a leading provider of training content and software solutions for industrial operations, manufacturing and mining, specializing in 3D and animation. Convergence serves over 50 Fortune 500 companies and has more than 400 clients including Caterpillar, Honeywell, LafargeHolcim, Microsoft and International Paper. Their course library includes 750 courses, many offered in 14 languages, on a broad range of subjects including health and safety, paper and pulping, corrugated packaging, power and utilities, mining, and HR.
Vector Solutions, a leader in eLearning and performance support, provides award-winning SaaS solutions for the architecture, engineering, construction (AEC), industrial, facilities management, public safety, IT and education industries. The acquisition solidifies Vector’s position as an innovator in training technology, strengthening its focus on skills-based training, expanding its portfolio of industry-specific solutions and broadening the types of modernized content it can deliver to clients.
“It’s our mission to create the most effective training to maximize learning and retention for optimized performance,” said Jeff Gordon, CEO of Vector Solutions. “And one of the best ways to engage learners is by leveraging cutting-edge educational technology like the 3D modeling used in Convergence courses. This type of media allows us to bring topics to life, convey complex information and processes, give rare looks inside machinery and other large items, and create scenarios that could otherwise risk safety. This is an important step as we work to modernize our entire course library and bring personalized instant intelligence to our clients.”
The acquisition provides clients across Vector and Convergence with access to thousands of new courses in a variety of modern formats and includes content accredited by hundreds of licensing bodies and professional associations. Clients will also benefit from increased platform features and modules for optimized performance. Convergence Training products and solutions will be offered under Vector’s Commercial business unit, partnered with the RedVector brand.
“The D.A. Davidson Technology Investment Banking Team was vital in completing this transaction,” said Randy Kohltfarber, CEO of Convergence Training. “Their SaaS expertise and eLearning industry deal experience enabled Convergence and its shareholders to realize the greatest possible outcome.”
“Randy and his team have done an extraordinary job growing Convergence into the industry leader it is today,” said Brad Gevurtz, Managing Director at D.A. Davidson. “We are pleased to have advised Convergence on this transaction.”
We are are excited to see the company grow as a part of Vector Solutions.
-Brad Gevurtz, Managing Director at D.A. Davidson
D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across five industry verticals: consumer, diversified industrials, financial institutions, real estate and technology.
Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has more than 1,300 employees and offices in 26 states.
Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
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