By Nadia Damouni
NEW YORK, April 8 IT outsourcing company
CompuCom Systems Inc said Monday it is being bought by private
equity firm Thomas H. Lee Partners, and a source close to the
matter said the price tag will be $1.1 billion.
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.
Platinum Equity had previously sold the technology services
company to Court Square in 2007 for approximately $628 million.
CompuCom, which provides a broad range of technology that
help clients through deployment, management and retirement
lifecycle of their IT assets, touts Fortune 100 and 500
businesses among its clients. It 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 adviser to CompuCom and
The transaction is expected to close in the second quarter
of 2013, subject to regulatory approvals and the satisfaction of
other customary closing conditions.