IT Solutions Provider CompuCom Acquired by Private Equity Firm

CompuCom, a Dallas-based IT services and solutions provider, has been sold to Thomas H. Lee Partners (THL), a Boston-based private equity firm with investments in business and financial services, consumer and healthcare and media and information services.

CompuCom’s current owner, Court Square Capital Partners, and THL both declined to disclose terms of the transaction, which is expected to close in Q2 2013. Citigroup Global Markets, J.P. Morgan, BMO Capital Markets and Jefferies Finance are providing financing for the deal.

THL said that the purchase complements its existing portfolio of business processing and managed IT services firms and that it expects CompuCom to see significant growth going forward.

“CompuCom has established itself as a clear leader in providing cost-effective IT service management and solutions and is well-known for its exemplary customer service,” said Seth Lawry, THL managing director. "We believe the company is well-positioned to capture additional market share in its traditional areas of strength as it deepens its expansion into new services towers. We look forward to partnering with the talented CompuCom management team to further grow the business and to continue building value.”

Tony Doye, who CompuCom named division chief executive in January as part of a succession plan while current chief executive Jim Dixon transitions to chairman, said the company’s specialties in mobility, end-user computing and cloud technology position it favorably for growth. “It is very exciting for us that THL shares and is investing in our strategy,” he said.

Dixon said the deal “heralds a new era for us with continued focus on value added services to our customers. THL has a great track record in supporting focused growth, customer delight and associate satisfaction within outsourcing and managed IT services companies.”

CompuCom’s customers include Fortune 100 and 500 businesses, including heavyweights such as Ernest & Julio Gallo, Sunoco and Hamilton Health. CompuCom posted $2.3 billion of gross revenue in 2011, according to company documents.