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TMCNet:  Platinum Equity Completes Sale of CompuCom Systems to Affiliate of Court Square Capital Partners

[October 03, 2007]

Platinum Equity Completes Sale of CompuCom Systems to Affiliate of Court Square Capital Partners

BEVERLY HILLS, Calif. --(Business Wire)-- Platinum Equity announced today that it has completed the sale of portfolio company CompuCom Systems to an affiliate of Court Square Capital Partners in a transaction valued at approximately $628 million.


CompuCom is a leading provider of a broad range of information technology solutions that help clients through the requisition, procurement, deployment, management and retirement lifecycle of their Information Technology assets.

"CompuCom was an outstanding investment for Platinum. Our ability to induce growth, especially in the service sector, helped unlock value in the business," said Tom Gores, Chairman and CEO of Platinum Equity. "Our subsequent acquisition and integration of General Electric's IT Solutions business contributed greatly to CompuCom's overall success, which we expect to continue under Court Square."

Platinum acquired CompuCom in a public-to-private transaction on October 1, 2004. Two months later, the business was expanded via the follow-on acquisition of General Electric's IT Solutions business.

The companies were integrated under the CompuCom name with a unified management team led by CEO James W. Dixon, who Platinum brought back to run the business. Mr. Dixon previously led CompuCom from 1988 to 1996, presiding over the company's growth from regional product reseller to national services integration provider.

In the three years since Platinum acquired and integrated GE ITS, the company has become one of North America's leading providers of IT services and solutions.

"This was a milestone deal for Platinum in many respects," said Jacob Kotzubei, the partner who led the investment from inception through divestiture. "It was our first public-to-private acquisition, and one of the largest take-private transactions of 2004.

"We succeeded by executing a disciplined, task-oriented plan - and relying on talented associates and managers from both CompuCom and GE ITS who came together to form a stronger, better company. We are really proud to have worked alongside Jim Dixon and his team in building the company into what it is today," he said.

Bingham McCutchen acted as legal adviser to CompuCom and Platinum Equity. Bear Stearns & Co. acted as financial adviser and Dechert LLP acted as legal adviser to Court Square Capital Partners.

About Platinum Equity

Platinum Equity (www.platinumequity.com) is a global M&A&O(R) firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, manufacturing, and entertainment distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 70 acquisitions with more than $17 billion in aggregate annual revenue at the time of acquisition.

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