July 7, 2021
With $49 billion in revenue for fiscal year 2020, Ingram Micro is the world’s largest distributor. It has 35,000 employees and operations in 60 countries, serving 170,000 customers and partners with 1,600 vendors.
Platinum Equity revealed its plans to buy the distributor in December.
Platinum Equity’s Tom Gores
“As the largest technology distributor in the world, Ingram Micro plays a vital role helping companies innovate and adapt,” said Platinum Equity chairman and CEO Tom Gores. He said this is “especially important now” as we emerge from the pandemic.
Gores said corporate IT priorities are shifting, e-commerce is thriving, and the pace of digitization continues to accelerate. This, he said, makes the technology products, services and advanced solutions Ingram provides “more important than ever.”
“We are excited to put our resources and experience to work helping Ingram Micro navigate these especially fluid times.”
Alain Monié will continue to lead Ingram Micro as CEO. The distributor will continue to be headquartered in Irvine, California.
Jacob Kotzubei at Platinum Equity led the transaction. He said the acquisition “is the culmination of more than a decade investing in the technology and IT distribution space.”
Platinum Equity’s Jacob Kotzubei
“We know the industry well and our team is ready to hit the ground running to support Alain and the company’s leadership group.”
Noting its strong balance sheet and access to Platinum’s financial and operational resources, he said Ingram “has a lot of attractive opportunities ahead.”
Monié said Ingram was proud to join Platinum Equity’s portfolio and excited to begin a future with “a prominent, U.S.-based partner.” He cited Platinum’s “desire and substantial resources to accelerate our innovation …vendor and customer services and solutions strategies” worldwide.
He said the firms have a shared vision. He added that Platinum is “dedicated to us continuing to develop and offer innovative solutions across the IT ecosystem.”
Platinum Equity managing director Matt Louie said Ingram has built “strong capabilities in logistics services and cloud and hybrid cloud solutions.”
“The company has built those businesses methodically through a combination of organic and acquisitive investment. We expect to accelerate those efforts and aim for an even higher growth trajectory,” added Louie.
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