PLATINUM EQUITY PORTFOLIO COMPANY INGRAM MICRO COMPLETES SALE OF MAJORITY OF COMMERCE & LIFECYCLE SERVICES BUSINESS

Sale allows Ingram Micro to increase focus on growth of core technology and cloud businesses

LOS ANGELES, April 4, 2022 /PRNewswire/ -- Platinum Equity confirmed today that the main closing of the sale of most of portfolio company Ingram Micro's Commerce & Lifecycle Services Business ("CLS") to CMA CGM Group has been completed. The transaction was valued at approximately $3 billion.

The main closing involved the divestiture of CLS operations in Europe, Canada, U.S., Peru, Colombia, Chile, and Argentina. The deferred closing regarding the remaining operations in Asia Pacific, Mexico and Costa Rica is expected to take place before the end of the first half of 2022, subject to customary regulatory approvals.

The divested CLS business specializes in eCommerce contract logistics and omni-channel fulfillment. The divested business represented estimated annual revenue of $1.7 billion in 2021 and employs approximately 12,000 staff members worldwide across 59 warehouses, with a strong presence in the U.S., Canada and in Europe.

Jacob Kotzubei, Partner at Platinum Equity, said: "Divesting the majority of CLS allows the company to focus more intensely on those things we believe can have the largest impact for the company and its partners. Helping Ingram Micro expand its core technology distribution and cloud solutions businesses, while also leveraging the company's sustainability focused IT asset disposition and reverse logistics and repairs services across its global partner network, are the top priorities."

Last December Ingram Micro acquired BRLink, a leading managed services provider in Brazil. In January, the company acquired Keenondots, a pure-play Commerce Platform-as-a-Service business headquartered in Enschede, The Netherlands.

Matthew Louie, Managing Director at Platinum Equity, said: "The Ingram Micro team is laser focused on investing in advanced solutions and services that can create more value for channel partners. We will continue to devote our capital resources, and M&A and operations expertise to helping them achieve that goal."

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 26 years Platinum Equity has completed more than 300 acquisitions.

Contacts:

Dan Whelan, Platinum Equity
(310) 282-9202
[email protected]

SOURCE Platinum Equity