Notify me of followup comments via e-mail. We will also be able to broaden our geographic reach even faster, while penetrating new industries and verticals. Transform the IT customer experience across the entire lifecycle. 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 (NASDAQ: LABL) announced that the anticipated acquisition of the Company by an affiliate of Platinum Equity, a leading private equity … Article above first published August 22, 2020. Platinum Equity Capital Partners has raised over $9.3 billion for its fifth fund, according to an SEC filing. There is not info yet about the amount of cash paid by Platinum. Vertiv Holdings Co (VRT) - 118,261,955 shares, 73.83% of the total portfolio. Its portfolio of businesses share common characteristics across … 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. Your email address will not be published. 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 … 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 Your email address will not be published. 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. Axalta, CDR, and Platinum Equity didn’t respond to a request to comment. Updated December 9, 2020, to reflect official Ingram-Platinum news announcement and Harmony PSA rumors. 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. 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. PPG said they don’t comment on rumors or speculation. In a statement about the deal, Monié said: “Platinum’s sector expertise, global operating capabilities and financial resources make it the ideal partner. It specializes in mergers and acquisitions, corporate divestitures, public-to-private transactions, and buyouts. If you get bought, it's likely you'll see some layoffs. 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 … History. 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. View a complete list of current portfolio companies. This is M&A deal number 515 that ChannelE2E has tracked so far in 2020. Once the deal closes, Ingram Micro CEO Alain Monié will continue to lead the distributor, and the company will remain headquartered in Irvine, California. PE acquires and cleans up the act, layoffs are part of the clean up business. 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. 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. It seeks to invest in information technology, software, telecommunication, logistics, metals, manufacturing, Rumors about Platinum Equity potentially buying Ingram Micro first surfaced in August 2020, ChannelE2E reported at the time. Deliver more solutions and more deeply engage the company’s global partner communities. Private equity firm Platinum Equity acquires technology & cloud distributor Ingram Micro from China's HNA Group for $7.2 billion. We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation.”. 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. You can also subscribe without commenting. Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995. The Company focuses on mergers, acquisitions, and leveraged buyout investments in … 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. 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 … 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. 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 firm focuses on leveraged buyout investments of established companies globally. How long does Platinum Equity hold companies? Platinum Equity specializes in acquiring and operating businesses throughout the world. Platinum Equity was founded in 1995 by Tom Gores. Harmony PSA competes in some ways against ConnectWise Manage and Datto Autotask. Founded in 1995, Platinum Equity specializes in acquiring and operating businesses throughout the world. Meanwhile, Ingram’s CloudBlue software unit has a growing business relationship with SoftBank’s SB C&S distribution company in Japan. 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 … HNA acquired Ingram Micro in 2016 for $6 billion. — read more. We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company’s success.”. HNA has been a good partner for Ingram Micro, enabling us to continue to innovate and expand our global businesses. Messages relating to layoffs at Platinum Equity are presented below the company info. HNA acquired Ingram Micro in 2016 for $6 billion. Platinum Equity is a private equity investment firm that focuses on leveraged buyout investments of established companies. The Platinum Equity-Ingram Micro announcement surfaces roughly six months after private equity firm Apollo Global Management acquired Ingram rival Tech Data. “It also provides exciting opportunities in one of the fastest-growing sectors in technology as corporations continue to migrate to cloud or hybrid solutions.”. 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). Find a full list of M&A deals here. Rumored Ingram Micro buyers included RRJ Capital (2019) Apollo Global Management (2018), but those purported M&A deals never materialized. Save my name, email, and website in this browser for the next time I comment. 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 … The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a … 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 . Platinum Equity Advisors, LLC operates as a private equity firm. That focus involves three key pillars, Executive VP Paul Bay told ChannelE2E in November 2020. The Platinum Equity portfolio spans diverse industries. Platinum Equity, LLC is a large private equity investment firm. Required fields are marked *. 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. We look forward to the opportunity to accelerate this trajectory with Platinum.”. … The Platinum Equity-Ingram Micro announcement surfaces roughly six months after private equity firm Apollo Global Management acquired Ingram rival Tech Data. “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.”. 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… At the time, ChannelE2E wondered if Ingram may try to spin off or introduce Ingram Micro Cloud to Wall Street as a tracking stock. Meanwhile, it’s a safe bet Ingram Micro will maintain its long-term business focus under Platinum Equity’s ownership. We offer deep in-house resources and flexible acquisition solutions to sellers worldwide. We will maintain a strong balance sheet and will gain additional flexibility and resources to execute on our long-term strategic objectives. 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. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia. 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 Multi-Color Corporation . These are the top 5 holdings of Platinum Equity Advisors, LLC. The firm is headquartered in Beverly Hills, California with regional offices in Boston, Greenwich, New York City, London, and Singapore. In the years following the recession, Platinum Equity targeted these beaten-down businesses along with industrials, distribution companies, and … Its portfolio of businesses share common characteristics across a variety of industries, including the automotive aftermarket (Wheel Pros)... 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 … Also the 263,000 square foot facility in Eastman Business Park in Rochester, N.Y has beens sold (Source: Image-Sensor-World). That same website says Harmony PSA founder Stephen Duckworth resigned his officer position around the same time. The pillars are: We’ll share more details about those priorities and the Bay conversation — which occurred pre-company sale — soon. Rumors about Platinum Equity potentially buying Ingram Micro first surfaced in August 2020, ChannelE2E reported at the time. 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. 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. 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. Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit. The target is $10 billion. Serious News … Private equity firm Platinum Equity is acquiring technology distributor Ingram Micro from China’s HNA Group for $7.2 billion. The deal is expected to be completed in the first half of 2021. The deal with Beverly Hills, Calif.-based Platinum Equity is expected to close in the first quarter of 2020, Cision said in a statement. 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. Competitors: UNKNOWN Platinum Equity thinks the companies it owns are just precious. 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.