CompuCom Announces Sale to Thomas H. Lee Partners
DALLAS -- April 08, 2013
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 companies.
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 strategy.”
“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 services
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
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.
For CompuCom Systems, Inc.
Andrea Hannahan, 513-583-8031
For Thomas H. Lee Partners
Sard Verbinnen & Co
Matt Benson / David Isaacs
212-687-8080 / 415-618-8750
For Court Square Capital Partners
Trevor Gibbons, 212-704-8166
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