CompuCom, the information technology outsourcing company announced that it is to be purchased by private equity firm Thomas H. Lee Partners. According to an anonymous source knowledgeable of the transaction, the price tag is nearly US$1.1 billion.
CompuCom is currently owned by Court Square Capital Partners, a private equity firm that sprung forth from Citigroup Inc back in 2006. Platinum Equity sold the company to Court Square in 2007 for the price of US$628 million.
The company provides a broad spectrum of technology that helps clients in deploying, managing and retiring their IT assets after lifecycle. It has a portfolio of Fortune 100 and 500 enterprises and reports gross revenue of US$2.3 billion back in 2012.
Financing for the transaction are Citigroup Global Markets, Inc, JP Morgan, Jefferies Finance LLC and BMO Capital Markets. BMO Capital and Jefferies would provide advice to THL and Citigroup is adviser to both Court Square and CompuCom.
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