|[April 08, 2013]
CompuCom Announces Sale to Thomas H. Lee Partners
DALLAS --(Business Wire)--
CompuCom Systems, Inc., the leading IT services and solutions
specialist, today announced that it has entered into a definitive
agreement under which Thomas H. Lee Partners, L.P. ("THL"), a leading
private equity firm, will acquire CompuCom from Court Square Capital
Partners, a private equity firm with a legacy of building lasting
CompuCom specializes in full lifecycle infrastructure services from
assessment, design, procurement and integration through program
deployment and management services of complete enterprise IT
infrastructures. CompuCom's clients are among the most recognized
Fortune 100 and 500 businesses, including high growth companies and
vertical market leaders. CompuCom, which has more than 11,500 associates
worldwide, has had more than 20 years of profitable growth and had $2.3
billion of gross revenue in 2012.
"We at CompuCom are delighted to announce this partnership with THL.
This heralds a new era for us with continued focus on value added
services to our customers. THL has a great track record in supporting
focused growth, customer delight and associate satisfaction within
outsourcing and managed IT services companies. Our mission is fully
complemented by the resources that a partnership with THL provides,"
said Jim Dixon, CompuCom CEO.
Tony Doye, CompuCom Divisional CEO, added, "CompuCom is well positioned
for growth, particularly in the mobility, end user and cloud arenas. It
is very exciting for us that THL shares and is investing in our
"Companies across all industries are increasingly turning to third
parties to enhance how they meet their business service needs,
particularly with respect to IT. Meanwhile, technology continues to
evolve quickly; organizational compliance requirements are becoming an
expensive burden due to the rise of mobile devices and cloud computing;
and end-user computing services require integration of an increasing
number of components. CompuCom has demonstrated that it has the tools
and human capital to help companies to navigate these challenges. This
investment is also consistent with our long history of investing in and
partnering with business processing and managed IT ervices firms,
including Systems Maintenance Services and Fidelity National Information
Services," said Soren Oberg, Managing Director at THL.
"CompuCom has established itself as a clear leader in providing
cost-effective IT service management and solutions and is well known for
its exemplary customer service. We believe the Company is
well-positioned to capture additional market share in its traditional
areas of strength as it deepens its expansion into new services towers.
We look forward to partnering with the talented CompuCom management team
to further grow the business and to continue building value," said Seth
Lawry, Managing Director at THL.
The transaction is expected to close in the second quarter of 2013,
subject to regulatory approvals and the satisfaction of other customary
closing conditions. Financial terms of the transaction were not
disclosed. Citigroup Global Markets Inc., J.P. Morgan, BMO Capital
Markets and Jefferies Finance LLC are providing committed financing for
the transaction. BMO Capital Markets and Jefferies LLC acted as
financial advisors and Weil, Gotshal & Manges LLP acted as legal advisor
to THL. Citigroup Global Markets Inc. acted as financial advisor and
Dechert LLP acted as legal advisor to CompuCom and Court Square.
About CompuCom Systems, Inc.
CompuCom, the leading IT services and solutions specialist, delivers IT
your way. Our clients like working with us because they know that, with
CompuCom, it's all about them. Our unique ITSM strategy blends your data
center, network, voice, and end user computing environments in an
innovative fashion. This radically simplifies your IT, allowing you to
focus on growing your business and serving your customers. We are highly
regarded around the world for our balance of industry-leading tools, a
pragmatic approach to best practices, and our highly skilled workforce.
We are the perfect alternative to address the revolutionary IT
transformations facing you today and in the future. More than a trusted
advisor, CompuCom is your trusted doer. To learn more, visit www.CompuCom.com.
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. ("THL") is one of the world's oldest and
most experienced private equity firms. The firm invests in
growth-oriented global businesses, headquartered principally in North
America, across three broad sectors: Consumer & Healthcare, Media &
Information Services and Business & Financial Services. THL's team of
investment and operating professionals partner with portfolio company
management teams to identify and implement business process improvements
that accelerate sustainable revenue and profit growth. Since its
founding in 1974, THL has raised approximately $20 billion of equity
capital and invested in more than 100 businesses with an aggregate
purchase price of more than $150 billion. THL strives to build great
companies of lasting value and generate superior investment returns. For
more information, please visit www.thl.com.
About Court Square Capital Partners
Court Square is one of the most experienced teams in the private equity
industry. Since 1979, the team has made over 200 investments including
several landmark transactions and has developed numerous businesses into
leaders in their respective markets. Court Square invests in companies
that have compelling growth potential. The firm manages over $5.5
billion in aggregate capital commitments while focusing on the following
four sectors: business services, general industrial, healthcare and
technology/telecommunications. For more information please visit www.courtsquare.com.
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