Platinum Equity to acquire Ingram Micro for $7.2bn

Global investment firm Platinum Equity is to acquire Ingram Micro for $7.2bn from HNA Group.

The sale is expected to be completed by the first half of 2021

Ingram Micro generated annual sales of circa $47bn in its fiscal year 2019.

Ingram Micro has more than 35,000 employees and operations in 60 countries, and serves over 250,000 customers and partners with over 2,000 vendors.

“Ingram Micro is one of the largest companies in the world and will be a cornerstone investment in our portfolio,” said Platinum Equity Chairman and CEO Tom Gores. 

“We have the resources and the experience to help the company pursue an aggressive agenda of growth and transformation.”
Platinum Equity Partner Jacob Kotzubei added: “We know Ingram Micro and the industry well and have been investors in the technology and IT distribution and solutions sectors for more than a decade. 

“We have been pursuing this opportunity for a while and have been impressed by the company’s ability to thrive while continuing to navigate these fluid and challenging times. 

"We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company’s success.”
Alain Monié will continue to lead Ingram Micro as Chief Executive Officer, and the company will continue to be headquartered in Irvine, California.
“We will maintain a strong balance sheet and gain additional flexibility and resources to execute on our long-term strategic objectives," said Monié.

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