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Pomeroy Sold to Tolt Solutions

Financial Information
  • Not Disclosed

Transaction Facts

  • Platinum Equity announced today that it signed an agreement to sell IT solution provider Pomeroy to Tolt Solutions, another IT solution provider and a portfolio company of Clearlake Capital Group.
  • At Clearlake, Pomeroy joins several other IT providers including ConvergeOne and Calero.
  • Following the transaction, the entities will be combined into the “Pomeroy Group of Companies,” lead by the existing management teams. Tolt Solutions will operate as a standalone division and remain focused on the retail industry.
  • Financial information for the transaction, expected to close in Q4 2015, was not disclosed.
Facing Headwinds with Size Advantage
  • Better Together: The newly created “Pomeroy Group of Companies” will create a significant player in the IT solution provider space with more than 4,000 employees and close to $1 billion in annual revenue. 
  • An M&A Success Story: Since Platinum acquired Pomeroy in Nov. 2009 for $68 million, taking the company private, the company has completed two add-on acquisitions: Jan. 2010’s OAO Technologies and Nov. 2012’s BluePoint Data. Going forward, we expect the Pomeroy Group to continue to be acquisitive as organic growth in the solution provider space remains difficult to come by.
  • Following a Proven Model: With this exit, Platinum is repeating a proven success. It acquired Pomeroy competitor CompuCom Systems in 2004 for $254 million, and after dramatically transforming it from focusing on products to low-end services sold it to Court Square Capital Partners for $628 million. Today, CompuCom is owned by Thomas H. Lee Partners, who acquired it in 2013 for a reported sales price of approximately $1.1 billion.
For more information about this transaction, click here to read the press release.
martinwolf was not the advisor in this transaction.
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