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Souter Investments sells Stone Technologies Group to Converge Technology Solutions

Souter Investments, a private equity focussed family investment office, is to sell Stone Technologies Group (Stone), a provider of Circular IT solutions, to Toronto Stock Exchange listed Converge Technology Solutions Corp. (Converge), a software-enabled IT & Cloud Solutions provider.

Souter acquired a majority stake in Stone in 2019, investing alongside the Company’s management team and a syndicate of investors managed by private equity house RJD Partners.

Since acquisition, Stone has grown strongly and expanded its range of products, services, and solutions. This includes the roll out of the market leading Stone 360 IT recycling app, which makes management of end-of-life technology simple, ensures responsible e-waste disposal, and allows customers to make progress towards their sustainability goals.

The transaction remains subject to regulatory approval.

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