Spotlight

An archive of past spotlight issues.

 

The martinwolf team tracks noteworthy mergers and acquisitions, and offers
commentary on issues that impact our industry. Here is an archive of past

Getronics Buys Pomeroy, Creating $1.3 Billion Behemoth

European systems integrator Getronics has acquired MSP heavyweight Pomeroy, No. 43 on the 2018 CRN Solution Provider 500, in a deal that creates a $1.3 billion solution provider behemoth with 9,000 employees and coverage in more than 110 countries.

Terms of the deal were not disclosed, but the acquisition was made possible by an $815 million financing and recapitalization.

The acquisition marks a return to the North American market for Getronics, which ten years ago sold its North American assets to CompuCom.

The deal provides a big payday for private equity firm Clearlake Capital, which has owned Pomeroy for the past five years.

“Clearlake deserves a lot of kudos, they created a lot of value with Pomeroy,” said Martin Wolf, president of martinwolf M&A Advisors of Walnut Creek, Calif., one of the top channel investment advisory deal-makers. “Clearlake has done very well for the shareholders by using debt properly. They did smart things and they have been handsomely rewarded.”

Read the full article here.

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24 Jan 2022

Tailwind Capital Sells AST Corp. to Recognize Partners

Financial Information ($USD) Not Disclosed  Transaction Details Tailwind Capital today announced it has completed its sale of AST Corporation to Recognize Partners, a technology services focused investment platform. Financial information was not disclosed. AST, a leading cloud and digital transformation solutions provider, simultaneously announced the deal, categorizing it as a strategic investment by Recognize to enable AST to accelerate investment in innovation,...

03 Jan 2022

Office Depot Sells CompuCom Systems

 Financial Information ($USD) Transaction Value: ~ $305 million Enterprise Value: $1.72 billion EV/LTM Revenue: 0.19x EV/LTM EBITDA: 3.85x  Transaction Details The ODP Corporation (NASDAQ: ODP) announced that it has sold its CompuCom Systems subsidiary to an affiliate of Variant Equity in a transaction valued up to $305 million. The transaction consideration of up to $305 million consists...

29 Dec 2021

Happy Holidays – The 2021 martinwolf Annual Letter

Dear Clients, Partners, and Friends of martinwolf M&A Advisors,   I hope you all are having an enjoyable holiday season with family and friends.   It’s been my tradition in this annual end-of-year letter to spend time reflecting on the past year, and to look forward to what the next year holds for us. We have plenty...