Platinum Equity Announces Plan to Acquire Ingram Micro for USD 7.2 Billion | Financial Buzz

Platinum Equity Announces Plan to Acquire Ingram Micro for USD 7.2 Billion

Platinum Equity reported entry into a definitive agreement to acquire Ingram Micro Inc. in a transaction value at USD 7.2 Billion.  The sale is expected to close by the first half of 2021, subject to shareholder and regulatory approvals.  Ingram Micro helps its partners maximize value of technology and commerce ecosystems as the company generated over USD 47 Billion in revenue for fiscal year 2019.  “Ingram Micro is an industry leader, one of the largest companies in the world and will be a cornerstone investment in our portfolio,” said Platinum Equity Chairman and CEO Tom Gores. “We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation.”

“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,” said Platinum Equity Partner Jacob Kotzubei, whose team has led multiple technology transactions, including Platinum Equity’s recent investment in Vertiv. “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. We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company’s success.”  “Platinum’s sector expertise, global operating capabilities and financial resources make it the ideal partner,” said Mr. Monié. “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 will also be able to broaden our geographic reach even faster, while penetrating new industries and verticals. We will maintain a strong balance sheet and will gain additional flexibility and resources to execute on our long-term strategic objectives. HNA has been a good partner for Ingram Micro, enabling us to continue to innovate and expand our global businesses. We look forward to the opportunity to accelerate this trajectory with Platinum.”

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