Extends Platinum Equity’s Long History of Creating Value in the Technology
Los Angeles (Oct. 26, 2015) – Platinum Equity announced today it has
signed a definitive agreement to sell Pomeroy to Tolt Solutions, a portfolio
company of Clearlake Capital Group, L.P. Financial terms of the agreement were not
disclosed. The transaction is expected to close in Q4 2015.
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
William Blair served as advisor to Platinum Equity on the sale of
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.