decor decor
"Don't Panic. Pivot."

-Cheryl Amyx

Computacenter plc to Purchase Pivot Technology Solutions, Inc.

martinwolf Transaction Analysis
 
Computacenter plc to Purchase Pivot Technology Solutions, Inc.
*Financial Information ($USD)
  • Enterprise Value:    $237.8 Million
  • EV/REV:                 0.21x
  • EV/EBITDA:           10.3x
Transaction Facts
  • UK-headquartered solution provider Computacenter plc announced today that it entered into an agreement to acquire Canadian full-service IT services provider Pivot Technology Solutions.
  • The deal, which prices Pivot at C$2.60 cash per common share, represents a 40.5% premium to Pivot’s closing share price on Sept. 8, 2020 (the last closing day before the transaction).
  • The price per share also represents a 36.0% premium to Pivot’s 20-day volume weighted average share price.
martinwolf Analysis
  • Reflecting a Challenging Time: Pivot recently announced second quarter 2020 results reflecting impacts of “economic uncertainty” where overall revenue was C$332M for the quarter compared with C$460M last year, though gross margin increased to 15.1% versus 13.1% the previous year
  • Driving Toward Success: Computacenter also announced interim results for the first half of 2020, with overall revenue slightly above the same period last year but a significant rise in pretax profit, which grew 39% to GBP 74.6M driven by a surge of demand prompted by remote work from COVID-19
  • Building Bigger and Stronger: Computacenter today is one of the largest solution providers in the world and one of the fasted growers in the last three years, due to a combination of strong organic growth and smart acquisitions such as this one and that of San Francisco-based FusionStorm (we advised Computacenter).
  • Smart Leadership: Computacenter CEO Mike Norris, who has been chief executive for more than 20 years, is widely considered a leader in integrating companies and eliminating redundancies.
For more information about this transaction, click here to read the press release.
*Financial information from Factset
martinwolf was not the advisor in this transaction.
previous post Back to Articles next post

06 Feb 2024

NWN Carousel acquired by American Securities

Financial Information Revenue: Approx. $900 million Enterprise Value: N/A Transaction Details NWN Carousel announced a transition of ownership from New State Capital Partners to affiliates of American Securities. This transition represents the success of significant investment, organic growth, M&A execution, operational excellence and innovation under ownership of New State Capital Partners. NWN Carousel developed a...

29 Jan 2024

AHEAD to Acquire Computer Design & Integration

Financial Information (USD) Enterprise Value: Approximately $705 Million EV/EBITDA: 9.65x Transaction Details One Equity Partners LLC has entered into a definitive agreement to sell IT services firm Computer Design & Integration to Berkshire Partners-backed AHEAD. The agreement values CDI at approximately $705 million including debt. To fund the transaction, AHEAD plans to issue an incremental...

10 Jan 2024

Hewlett Packard Enterprise to Acquire Juniper Networks

Financial Information ($USD) Enterprise Value: $14.0 Billion EV/LTM Revenue: 2.48x EV/LTM EBITDA: 20.91x   Transaction Details Hewlett Packard Enterprise (NYSE: HPE) and Juniper Networks, Inc. (NYSE: JNPR), a leader in AI-native networks, today announced that the companies have entered a definitive agreement under which HPE will acquire Juniper in an all-cash transaction for $40.00 per...