The Company focuses on mergers, acquisitions, and leveraged buyout investments in … Updated December 9, 2020, to reflect official Ingram-Platinum news announcement and Harmony PSA rumors. 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 … Its portfolio of businesses share common characteristics across … Find a full list of M&A deals here. — read more. Private equity firm Platinum Equity is acquiring technology distributor Ingram Micro from China’s HNA Group for $7.2 billion. In the years following the recession, Platinum Equity targeted these beaten-down businesses along with industrials, distribution companies, and … The Platinum Equity portfolio spans diverse industries. 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 That same website says Harmony PSA founder Stephen Duckworth resigned his officer position around the same time. Harmony PSA competes in some ways against ConnectWise Manage and Datto Autotask. Notify me of followup comments via e-mail. 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 … This is M&A deal number 515 that ChannelE2E has tracked so far in 2020. That focus involves three key pillars, Executive VP Paul Bay told ChannelE2E in November 2020. 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. Your email address will not be published. The deal is expected to be completed in the first half of 2021. 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. Platinum Equity Capital Partners has raised over $9.3 billion for its fifth fund, according to an SEC filing. Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit. HNA acquired Ingram Micro in 2016 for $6 billion. If you get bought, it's likely you'll see some layoffs. In a statement about the deal, Monié said: “Platinum’s sector expertise, global operating capabilities and financial resources make it the ideal partner. Platinum Equity was founded in 1995 by Tom Gores. 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. Once the deal closes, Ingram Micro CEO Alain Monié will continue to lead the distributor, and the company will remain headquartered in Irvine, California. Transform the IT customer experience across the entire lifecycle. 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… PE acquires and cleans up the act, layoffs are part of the clean up business. 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. We look forward to the opportunity to accelerate this trajectory with Platinum.”. Competitors: UNKNOWN Platinum Equity thinks the companies it owns are just precious. HNA has been a good partner for Ingram Micro, enabling us to continue to innovate and expand our global businesses. 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. 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. Platinum Equity specializes in acquiring and operating businesses throughout the world. Founded in 1995, Platinum Equity specializes in acquiring and operating businesses throughout the world, Use of this website constitutes acceptance of our. There is not info yet about the amount of cash paid by Platinum. HNA acquired Ingram Micro in 2016 for $6 billion. 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. Your email address will not be published. Founded in 1995, Platinum Equity specializes in acquiring and operating businesses throughout the world. History. How long does Platinum Equity hold companies? We will maintain a strong balance sheet and will gain additional flexibility and resources to execute on our long-term strategic objectives. 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. 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). Meanwhile, Ingram’s CloudBlue software unit has a growing business relationship with SoftBank’s SB C&S distribution company in Japan. The Platinum Equity-Ingram Micro announcement surfaces roughly six months after private equity firm Apollo Global Management acquired Ingram rival Tech Data. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a … 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. PPG said they don’t comment on rumors or speculation. Multi-Color Corporation . It seeks to invest in information technology, software, telecommunication, logistics, metals, manufacturing, 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. Axalta, CDR, and Platinum Equity didn’t respond to a request to comment. 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 … You can also subscribe without commenting. Platinum Equity Advisors, LLC operates as a private equity firm. 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. Required fields are marked *. Vertiv Holdings Co (VRT) - 118,261,955 shares, 73.83% of the total portfolio. Platinum Equity, LLC is a large private equity investment firm. Rumored Ingram Micro buyers included RRJ Capital (2019) Apollo Global Management (2018), but those purported M&A deals never materialized. (NASDAQ: LABL) announced that the anticipated acquisition of the Company by an affiliate of Platinum Equity, a leading private equity … These are the top 5 holdings of Platinum Equity Advisors, LLC. 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. The target is $10 billion. 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 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 Platinum Equity is a private equity investment firm that focuses on leveraged buyout investments of established companies. Private equity firm Platinum Equity acquires technology & cloud distributor Ingram Micro from China's HNA Group for $7.2 billion. 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.

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