US-based Platinum Equity plans to acquire Ingram Micro from China's HNA Technology Co., Ltd, a part of HNA Group, in a transaction valued at $7.2bn. The sale is expected to be completed by the first half of 2021, subject to HNA Technology shareholder and customary regulatory approvals.
"We know Ingram Micro and the industry very well and have been investors in the technology and IT distribution and solutions sectors for more than a decade," said Platinum Equity Partner Jacob Kotzubei, whose team has led multiple technology transactions, including Platinum Equity's recent investment in Vertiv. "We have been pursuing this opportunity for a while and have been impressed by the company's ability to thrive while continuing to navigate these fluid and challenging times. We will work closely with the Ingram Micro leadership team to sustain that momentum and build on the company's success."
Upon closing, Alain Monié will continue to lead Ingram Micro as Chief Executive Officer, and the company will continue to be headquartered in Irvine, California.
