Multi-Color Corporation . HNA acquired Ingram Micro in 2016 for $6 billion. … Platinum Equity today announced that it has entered into a definitive agreement to acquire Ingram Micro Inc., the world's largest provider of technology logistics … Platinum Equity founded by Tom Gores is a global M, A and O® firm specializing in mergers, acquisitions, and operations of companies that provide mission-critical products, services, and solutions to diverse industries. Platinum Equity, founded by Mr. Gores in 1995, was ranked among the top 10 performing private equity firms in the world for 2018 in a recent study by HEC Paris Business School and Dow Jones. The Platinum Equity portfolio spans diverse industries. Platinum Equity is not a firm that has own plans to produce CCD sensors, they will proabbly split up the resoruces they bought and sell them to others. Teaming with Platinum provides an opportunity to further strengthen our competitive advantage in the cloud, speed our digital transformation and accelerate the expansion of our solutions and services portfolio, particularly for high value markets. The fund had invested $1.08 billion in prior Platinum rounds and is earning what amounts to an annualized return of more than 30% — exceptional even by private equity … (NASDAQ: LABL) announced that the anticipated acquisition of the Company by an affiliate of Platinum Equity, a leading private equity … Private equity firm Platinum Equity acquires technology & cloud distributor Ingram Micro from China's HNA Group for $7.2 billion. We have been pursuing this opportunity for a while and have been impressed by the company’s ability to thrive while continuing to navigate these fluid and challenging times. The Platinum Equity-Ingram Micro announcement surfaces roughly six months after private equity firm Apollo Global Management acquired Ingram rival Tech Data. How long does Platinum Equity hold companies? PE acquires and cleans up the act, layoffs are part of the clean up business. We look forward to the opportunity to accelerate this trajectory with Platinum.”. The telecom and media giant and its advisers at Goldman Sachs Group Inc. have been in talks with private-equity suitors about the satellite TV unit, some of … “We wish Alain and his team well and are confident that Ingram Micro will continue to succeed in this exciting new phase of growth and development under Platinum’s ownership.”. That same website says Harmony PSA founder Stephen Duckworth resigned his officer position around the same time. Article above first published August 22, 2020. In a statement about the deal, Monié said: “Platinum’s sector expertise, global operating capabilities and financial resources make it the ideal partner. We will also be able to broaden our geographic reach even faster, while penetrating new industries and verticals. Required fields are marked *. These are the top 5 holdings of Platinum Equity Advisors, LLC. There is not info yet about the amount of cash paid by Platinum. The deal is expected to be completed in the first half of 2021. Platinum Equity is clearly familiar with SPAC transactions and the SPAC process, so if the rumors of a Vertiv/GSAH combination are true, that’s especially good news, i.e., both sides of the table will be negotiating with a … If you get bought, it's likely you'll see some layoffs. Rumors about Platinum Equity potentially buying Ingram Micro first surfaced in August 2020, ChannelE2E reported at the time. In a prepared statement about the deal, Platinum Equity Chairman and CEO Tom Gores said: “Ingram Micro is an industry leader, one of the largest companies in the world and will be a cornerstone investment in our portfolio. At the time, ChannelE2E wondered if Ingram may try to spin off or introduce Ingram Micro Cloud to Wall Street as a tracking stock. View a complete list of current portfolio companies. From time to time, rumors popped up that HNA Group may look to sell Ingram Micro in order to strengthen HNA Group’s own financial footing. Benefit Street pro to join Platinum Equity credit arm 1yr ago Hedge Fund hfm.global Views: 816 Jamie Smith to build out back-office function for newly established credit unit - Benefit Street pro to join Platinum Equity credit arm on HFM Week . We will maintain a strong balance sheet and will gain additional flexibility and resources to execute on our long-term strategic objectives. Notify me of followup comments via e-mail. Axalta, CDR, and Platinum Equity didn’t respond to a request to comment. Rumored Ingram Micro buyers included RRJ Capital (2019) Apollo Global Management (2018), but those purported M&A deals never materialized. Concluded President of HNA Group North America Wang Duan: “We are pleased to have reached an agreement that delivers a strong return on HNA’s investment while ensuring that Ingram Micro has a partner committed to investing in its future growth,” said President of HNA Group North America Wang Duan. Platinum Equity Advisors, LLC operates as a private equity firm. Our latest sources pointed us to this website — which suggests Ingram Micro CloudBlue President Nimesh Dave and Ingram Micro Cloud VP Darish Rajanayagam have been Harmony PSA officers since May 2020. Also of note: Ingram Micro in December 2019 announced an updated focus for CEO Alain Monié in the cloud business, and a new global role for Paul Bay. The investment firm typically seeks to acquire private companies, public firms that want to become private, and units that large corporations are looking to divest; these enterprises usually have established brands... Diversity & Inclusion at Platinum Equity Meanwhile, Ingram’s CloudBlue software unit has a growing business relationship with SoftBank’s SB C&S distribution company in Japan. HNA has been a good partner for Ingram Micro, enabling us to continue to innovate and expand our global businesses. The Platinum Equity-Ingram Micro announcement surfaces roughly six months after private equity firm Apollo Global Management acquired Ingram rival Tech Data. Added Platinum Equity Managing Director Matthew Louie: “Ingram Micro’s scale, diverse customer and vendor relationships and track record for innovation, create the perfect platform for us to help accelerate growth, both organically and through additional M&A,” said Platinum Equity Managing Director Matthew Louie. Amid the occasional buyout rumors, Ingram has maintained a consistent focus on partner support and emphasized that the company’s core IT channel priorities remain unchanged. Platinum Equity, LLC is a large private equity investment firm. Private equity firm Platinum Equity LLC is eyeing a deal to either sell or list data center equipment provider Vertiv Co., Reuters reported on Thursday.The report … Founded in 1995, Platinum Equity specializes in acquiring and operating businesses throughout the world, Use of this website constitutes acceptance of our. Serious News … Save my name, email, and website in this browser for the next time I comment. We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company’s success.”. Indeed, SB C&S has selected Ingram Micro’s CloudBlue software platform to drive cloud subscriptions and licenses for Microsoft 365, Dropbox and local Japanese ISVs. HNA acquired Ingram Micro in 2016 for $6 billion. Founded in 1995, Platinum Equity specializes in acquiring and operating businesses throughout the world. Platinum Equity specializes in acquiring and operating businesses throughout the world. Once the deal closes, Ingram Micro CEO Alain Monié will continue to lead the distributor, and the company will remain headquartered in Irvine, California. Meanwhile, recent reports suggest that Ingram may have acquired Harmony PSA, a provider of professional services automation software designed for MSPs (managed IT service providers). We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation.”. Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995. Alec and Tom Gores are both the founders of their own firms: Alec leads The Gores Group, while Tom is the CEO of Platinum Equity. Also the 263,000 square foot facility in Eastman Business Park in Rochester, N.Y has beens sold (Source: Image-Sensor-World). The target is $10 billion. Transform the IT customer experience across the entire lifecycle. Deliver more solutions and more deeply engage the company’s global partner communities. Its portfolio of businesses share common characteristics across a variety of industries, including the automotive aftermarket (Wheel Pros)... Added Platinum Equity Partner Jacob Kotzubei: “We know Ingram Micro and the industry very well and have been investors in the technology and IT distribution and solutions sectors for more than a decade. “It also provides exciting opportunities in one of the fastest-growing sectors in technology as corporations continue to migrate to cloud or hybrid solutions.”. Your email address will not be published. Platinum Equity Rakes In $10 Billion as Investors Ignore Critics The private-equity firm made its record haul despite activist and political pressure over a … PPG said they don’t comment on rumors or speculation. It formed in 2016 when it was spun out from Emerson Electric Co., and then went private in a $4 billion sale to Platinum Equity, a West Coast-based investment group, and a group of co-investors. The pillars are: We’ll share more details about those priorities and the Bay conversation — which occurred pre-company sale — soon. Platinum Equity Capital Partners has raised over $9.3 billion for its fifth fund, according to an SEC filing. Private equity firm Platinum Equity is acquiring technology distributor Ingram Micro from China’s HNA Group for $7.2 billion. History. Updated December 9, 2020, to reflect official Ingram-Platinum news announcement and Harmony PSA rumors. We offer deep in-house resources and flexible acquisition solutions to sellers worldwide. The firm is headquartered in Beverly Hills, California with regional offices in Boston, Greenwich, New York City, London, and Singapore. It seeks to invest in information technology, software, telecommunication, logistics, metals, manufacturing, Messages relating to layoffs at Platinum Equity are presented below the company info. Platinum Equity is a global M&A&O® firm, founded by Tom Gores, specialized in mergers, acquisitions, and operations of companies that provide mission-critical products, services, and solutions in diverse industries. Harmony PSA competes in some ways against ConnectWise Manage and Datto Autotask. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a … The firm focuses on leveraged buyout investments of established companies globally. Its portfolio of businesses share common characteristics across … Meanwhile, it’s a safe bet Ingram Micro will maintain its long-term business focus under Platinum Equity’s ownership. The Company focuses on mergers, acquisitions, and leveraged buyout investments in … This is M&A deal number 515 that ChannelE2E has tracked so far in 2020. Tom Gores, Chairman and CEO of Platinum Equity and owner of the Detroit Pistons, announced today that Earvin “Magic” Johnson is joining Gores’ FlintNOW campaign, ... 19 more rumors… — read more. Your email address will not be published. Platinum Equity was founded in 1995 by Tom Gores. Find a full list of M&A deals here. Vertiv Holdings Co (VRT) - 118,261,955 shares, 73.83% of the total portfolio. Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit. The deal with Beverly Hills, Calif.-based Platinum Equity is expected to close in the first quarter of 2020, Cision said in a statement. That focus involves three key pillars, Executive VP Paul Bay told ChannelE2E in November 2020. Competitors: UNKNOWN Platinum Equity thinks the companies it owns are just precious. You can also subscribe without commenting. It specializes in mergers and acquisitions, corporate divestitures, public-to-private transactions, and buyouts. Rumors about Platinum Equity potentially buying Ingram Micro first surfaced in August 2020, ChannelE2E reported at the time. Private Equity Provided by: Set Up E-mail Alerts For Private Equity » Feb 11, 2021 11:41AM Apollo's (APO) LifePoint in Talks to Buy Ardent Health Services - DJ All contents © 2021 ChannelE2E and After Nines Inc. Platinum Equity specializes in mergers, acquisitions and operations - a trademarked strategy it calls M&A&O® - acquiring and operating companies in a broad range of … Platinum Equity is a private equity investment firm that focuses on leveraged buyout investments of established companies. In the years following the recession, Platinum Equity targeted these beaten-down businesses along with industrials, distribution companies, and … HNA acquired Ingram Micro in 2016 for $6 billion, Apollo Global Management acquired Ingram rival Tech Data, SoftBank’s SB C&S distribution company in Japan, updated focus for CEO Alain Monié in the cloud business, MSP 250: Top 250 Public Cloud MSPs for AWS, Microsoft Azure and Google, Technology Mergers and Acquisitions: Deal List. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia.
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