Platinum Equity To Acquire Ingram Micro For $7.2 Billion

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By STS News Desk On Dec 9, 2020

Platinum-Equity-To-Acquire-Ingram-Micro-For-_7.2-Billion

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 services and solutions, from HNA Technology Co., Ltd, a part of HNA Group, in a transaction valued at $7.2 billion. The sale is expected to be completed by the first half of 2021, subject to HNA Technology shareholder and customary regulatory approvals.

Founded in 1979 and headquartered in Irvine, California, Ingram Micro is an integral part of the technology and commerce ecosystems, helping its partners maximize the value of the technology that they make, sell or use. The company generated more than $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.”

With more than 35,000 employees and operations in 60 countries, the company serves more than 250,000 customers and partners with over 2,000 vendors, including the world’s best-known technology companies. Through its vast global infrastructure and focus on cloud, mobility, technology lifecycle, supply chain and technology solutions, Ingram Micro enables business partners to operate more efficiently and successfully in the markets they serve.

“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.

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