Successful
Investment Extends Platinum Equity’s Long History of Creating Value in
the Technology Sector
Los
Angeles (Dec. 1, 2015) – Platinum Equity announced today it has completed the
sale of Pomeroy to Tolt Solutions, a portfolio company of Clearlake Capital
Group, L.P. Financial terms of the agreement were not disclosed.
Pomeroy
is a provider of comprehensive information technology solutions and managed
services. Platinum Equity acquired Pomeroy in November 2009 in a
public-to-private transaction.
Platinum
Equity Partner Jacob Kotzubei said a strong partnership with Pomeroy’s
management team contributed to the company’s success.
“Chris
Froman and his team were incredible leaders who exceeded our expectations every
step of the way,” said Mr. Kotzubei. “They worked seamlessly with
Platinum Equity’s operations specialists and our M&A team to grow and
expand the business and set the company up for long-term success.”
During
Platinum Equity’s ownership, Pomeroy enjoyed consistent top-line growth with
strong earnings, streamlined its operations, revitalized its sales organization
and completed two add-on acquisitions. The company acquired OAO
Technologies in January 2010 and BluePoint Data in November 2012.
“Our
relationship with Platinum Equity was a true partnership and their support over
the past several years was vital to our success,” said Christopher Froman,
president and chief executive officer of Pomeroy. “Platinum Equity has a lot of
history in the technology space and they know what it takes to be
successful. They challenged us to be great and then gave us the tools we
needed to deliver.”
Headquartered
in Hebron, KY, the company provides services to more than 3,000 corporations,
government entities and mid-market clients from more than 20 locations
worldwide, including the United States, Canada, Latin America and
Western Europe.
William
Blair served as advisor to Platinum Equity on the sale of Pomeroy.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (
www.platinumequity.com) is a global investment firm with more than $6 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. In 2014, Platinum Equity portfolio companies generated more than $17 billion in revenue. 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 business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 20 years Platinum Equity has completed more than 150 acquisitions.
