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Getronics Buys Pomeroy, Creating $1.3 Billion Behemoth
European systems integrator Getronics has acquired MSP heavyweight Pomeroy, No. 43 on the 2018 CRN Solution Provider 500, in a deal that creates a $1.3 billion solution provider behemoth with 9,000 employees and coverage in more than 110 countries.
Terms of the deal were not disclosed, but the acquisition was made possible by an $815 million financing and recapitalization.
The acquisition marks a return to the North American market for Getronics, which ten years ago sold its North American assets to CompuCom.
The deal provides a big payday for private equity firm Clearlake Capital, which has owned Pomeroy for the past five years.
“Clearlake deserves a lot of kudos, they created a lot of value with Pomeroy,” said Martin Wolf, president of martinwolf M&A Advisors of Walnut Creek, Calif., one of the top channel investment advisory deal-makers. “Clearlake has done very well for the shareholders by using debt properly. They did smart things and they have been handsomely rewarded.”
Read the full article here.