Platinum Equity is acquiring Ingram Micro in a transaction valued at $7.2 billion

American private equity investment firm Platinum Equity today announced that it’s acquiring HNA Group’s Ingram Micro in a $7.2 billion deal. 

With the sale expected to be completed in 2021, Platinum Equity says it will work closely with the Ingram Micro leadership team to sustain the company’s ability to thrive while continuing to navigate these fluid and challenging times and build on the company’s success. This acquisition provides Platinum Equity with several opportunities in one of the fastest-growing sectors in technology as corporations continue to migrate to cloud or hybrid solutions, says Matthew Louie, managing director of Platinum Equity. 

Alain Monié will continue to lead Ingram Micro as chief executive officer upon closing, and the company will continue to be headquartered in Irvine, California, the company noted in the Dec. 9 announcement

“We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation,” said Tom Gores, Platinum Equity chairman and chief executive officer. 

Ingram Micro was acquired by the China-based marine shipping service provider – HNA Technology – in a $6 billion worth of all-cash deal in 2016. HNA Technology said in an exchange filing earlier this month that it’s in talks with banks about the payment of $1.35 billion in loans tied to this acquisition and are past due. The company hasn’t paid off any of them, which are part of a $4 billion syndicated loan that the company had used to finance the acquisition. 




Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Pragya Sehgal
Pragya Sehgal
Her characters are bold and smart, but in real life, Pragya is afraid of going upstairs when it is dark behind her. Born and raised in the capital city of India - Delhi - bounded by the Yamuna River on the west, Pragya has climbed the Himalayas, and survived medical professional stream in high school without becoming a patient or a doctor. Pragya now makes her home in Canada with her husband - a digital/online marketing professional who also prepares beautiful, healthy and delicious meals for her. When she isn’t working or writing around tech, she’s probably watching art films on Netflix, or wondering whether she should cut her hair short or not.

Related Tech News

CDN in your inbox

CDN delivers a critical analysis of the competitive landscape detailing both the challenges and opportunities facing solution providers. CDN's email newsletter details the most important news and commentary from the channel.