THL to buy IT services company CompuCom for $1.1 bln -source

NEW YORK, April 8 Mon Apr 8, 2013 3:59pm EDT

NEW YORK, April 8 (Reuters) - Thomas H. Lee Partners said Monday it is buying privately held IT outsourcing company CompuCom Systems Inc for around $1.1 billion, a person close to the matter said.

Dallas, Texas based CompuCom had been owned by Court Square Capital Partners, a private equity firm that was spun out of Citigroup Inc in 2006.

Financial terms of the transaction were not disclosed.

CompuCom touts Fortune 100 and 500 businesses as among its clients, and had reported gross revenue of $2.3 billion in 2012.

Citigroup Global Markets Inc, JP Morgan, BMO Capital Markets and Jefferies Finance LLC are providing committed financing for the transaction.

BMO Capital Markets and Jefferies LLC provided financial advice to THL and Citigroup Global is advisor to CompuCom and Court Square.

The transaction is expected to close in the second quarter of 2013, subject to regulatory approvals and the satisfaction of other customary closing conditions.

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