Park Place Technologies Announces Acquisition by GTCR

Chicago-based investment firm to support leading data center hardware maintenance provider in economic growth and global expansion

CLEVELAND, Ohio  – Park Place Technologies announced Monday morning that they have finalized an agreement for the acquisition of the company by Chicago investment firm GTCR from WestView Capital of Boston, MA, who has been the majority shareholder in Park Place Technologies since 2012. WestView Capital will remain an investor and active voice on Park Place’s Board of Directors.

Since 1980, GTCR has invested $12 billion in over 200 companies in several industries including information services and technology, healthcare, and financial services. GTCR will partner with Park Place Technologies to help expand its global footprint by developing its data center hardware service offerings throughout Europe, Asia Pacific and beyond.

“Park Place has never been better-positioned in our markets to serve our customers and to expand our world-class service,” said Chairman & CEO of Park Place Technologies, Ed Kenty.  “We have chosen GTCR as our new partner because of their strong understanding of our business model, their portfolio of successful companies, their depth of experience in helping companies grow, and the faith they have demonstrated in our leadership and employees. We would like to thank WestView Capital for their support over the last three years and look forward to their continued involvement.”

“The business that Ed and the entire Park Place team have built over the last decade is a testament to their superior customer service and operating excellence,” said GTCR Managing Director David Donnini. “The entire Park Place team has built a tremendous platform that is well-positioned for long-term success.”

Over the past six years, Park Place Technologies has experienced a 30% average annual growth rate.   In 2016, with GTCR, Park Place plans to continue this trend by adding about 100 jobs throughout the company including offices in Cleveland, Boston, Denver, Canada and the United Kingdom. This significant growth will help contribute to the global expansion of Park Place Technologies’ maintenance and support of post-warranty data center hardware equipment.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™—finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit www.gtcr.com.

About
Park Place Technologies

Park Place Technologies simplifies the management of complex technology environments for more than 17,000 customers worldwide. Our industry-leading and award-winning services include ParkView™ hosted services, Entuity software, and our Enterprise Operations Center. We maximize Uptime, improve operational speed, eliminate IT chaos, and boost return on investment – ultimately accelerating digital transformation.

We do it through a new technology service category – Discover, Monitor, Support, Optimize (DMSO) – a fully integrated approach to managing critical infrastructure created by Park Place Technologies.

Park Place Technologies also provides exceptional global service for data center storage, server and network hardware for all tier one OEM equipment. Park Place supports 58,000+ data centers in 150+ countries. Our worldwide network of 404,000 parts stored regionally, locally and on-site allows for fast parts distribution and service to help drive Uptime.