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CompuCom switching sponsors for $1.1 billion

April 8, 2013: 4:13 PM ET

compucom_websitePrivate equity firms swap CompuCom.

FORTUNE -- Thomas H. Lee Partners this afternoon announced that it has agreed to acquire CompuCom Systems Inc., a Dallas-based provider of IT consulting and outsourcing solutions. No financial terms were disclosed, but Fortune has learned that the sale price was approximately $1.1 billion.

That means a big return for Court Square Capital Partners, which paid $504 million to buy CompuCom back in 2007 from another private equity firm. The exact multiple is a bit unclear, however, because Court Square also invested additional cash to support latter bolt-on acquisitions like the North American operations of Getronics NV.

CompuCom also represents the first new deal for THL Partners since last June, when the firm led a $2.69 billion recap for party supplies retailer Party City Holdings. Assuming that the $1.1 billion for CompuCom is at least 40% equity, then THL is now more than 80% committed on its current fund -- an $8.1 billion vehicle closed in 2007. As we previously reported, the Boston-based firm plans to begin raising its next fund later this year.

According to a press release, CompuCom generated $2.3 billion of gross revenue in 2012, and has more than 11,500 worldwide employees.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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