Home News Briefs Clearlake exits Pomeroy Group
Clearlake exits Pomeroy Group
Luisa Beltran
Clearlake Capital Group LP said July 12 that it sold Pomeroy Group Holdings Inc to Getronics Group. Financial terms weren't announced. Pomeroy provides infrastructure solutions and managed services to middle market and enterprise customers. William Blair & Co LLC and Raymond James & Associates Inc served as financial advisers to Pomeroy. Kirkland & Ellis LLP and Cooley LLP served as legal advisers to Pomeroy.
anta Monica, CA and Hebron, KY – July 12, 2018 – Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") today announced the sale of Pomeroy Group Holdings, Inc. ("Pomeroy") to an affiliate of the Getronics Group ("Getronics"). Financial terms were not disclosed.
Pomeroy is a global provider of mission-critical infrastructure solutions and managed services to middle market and enterprise customers. Consistently recognized as one of the Top 50 Solution Providers in North America, Pomeroy works with clients, to assess, plan, design, build, test, implement, manage, and ultimately optimize each client's IT infrastructure, leading to the creation of tangible business value and return on their IT investments.
"We are very proud to have partnered with the Pomeroy team as we successfully delivered on our original investment thesis to build a leading platform with significant scale," said Behdad Eghbali and James Pade of Clearlake. "After our initial investment in July 2013, we worked closely with management to execute our buy-and-build strategy and significantly expand the company's managed services platform. During this time, our O.P.S.® investment approach resulted in a six-fold improvement in earnings and transformed the business into a leader in enabling digital transformation. We look forward to seeing Pomeroy enjoy continued success as part of Getronics."
Under Clearlake's ownership, Pomeroy successfully invested in automation tools and enhanced technical capabilities to address the ongoing digitalization of the workforce. Working with Chris Froman, Pomeroy's Executive Chairman, and Brian Robinson, CEO, Clearlake implemented its O.P.S.® framework to bolster the Company's service and delivery capabilities, vertical expertise, and growth trajectory. Today, Pomeroy serves a diverse range of customers across the globe with its 2,400+ technicians, 50,000+ field support locations, and integrated workplace-as-a-service platform.
"We want to thank our partners at Clearlake for their tremendous support," said Chris Froman. "Throughout our history at Pomeroy, we have had one focus – delivering performance for our customers through industry-leading service capabilities, backed by the dedication and commitment of Pomeroy's associates."
"It has been a pleasure working with the Clearlake team, which provided us with the operational, strategic, and financial expertise needed to grow and enhance the business," said Brian Robinson. "Clearlake's dedication to innovation, operational best practices, and strategic investment opportunities proved invaluable to us. We are now better positioned than ever as we join the Getronics family."
William Blair & Company, LLC and Raymond James & Associates, Inc. served as financial advisors to Pomeroy. Kirkland & Ellis LLP and Cooley LLP served as legal advisors to Pomeroy.
About Clearlake
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.®. The firm's core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $7 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
About Pomeroy
Pomeroy provides high quality IT infrastructure services from its locations throughout North America, Latin America, Europe, and Asia. Pomeroy's portfolio of infrastructure managed services includes Workplace Services, Network Services, Data Center Services, and Cloud Services along with staffing services and the full range of procurement and logistics services. The industry's foremost expert in Optimized Workplace Services, Pomeroy is industry recognized for Managed Workspace Services. Pomeroy also received the Americas VMware Partner Innovation Award in the Digital Workspace category in 2017. Committed to first-rate service and customer satisfaction, Pomeroy fulfills your business needs with the tools and know-how to build and sustain flexible IT environments. More information is available atwww.pomeroy.com.