Thomas H. Lee Partners

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.

Sign up for my daily email newsletter on deals and deal-makers:

  • Thomas H. Lee Partners still not fundraising

    Thomas H. Lee Partners appears to be in no hurry.

    FORTUNE -- Thomas H. Lee Partners is taking it slow. No new deals since last June, and no plans to raise a new fund until later this year.

    Last summer, things seemed to be moving in a much different direction. The venerable private equity firm agreed to acquire a majority stake in party supplies retailer Party City Holdings via a $2.69 billion MORE

    - Feb 28, 2013 12:57 PM ET
  • Throwing iced coffee on the Dunkin' IPO

    The Dunkin' Donuts IPO is expected to be hot. But like a sugar high, Dunkin's price could crash hard after the euphoria of the first bite wears off.

    By Cyrus Sanati, contributor

    Update 6:15pm: Dunkin' Donuts shares priced at $19, above their price range of $16 to $18.

    FORTUNE -- America may run on Dunkin', but investors may want to run away from Dunkin' Brands when the private equity-backed company goes public on MORE

    Jul 26, 2011 12:11 PM ET
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.