Apollo Buys Tech Data

Apollo buys Tech Data.
   
Apollo Global Management buys Tech Data for $5.4 billion.
   
Tech Data buys a range of servers, computers, printers, phones, cameras, tablets, copiers, scanners, software, cloud services, and beyond, from manufacturers such as Apple, Cisco Systems, and HP. It sells these products and other information technology infrastructure to corporate resellers, direct marketers, and retailers.  They also deliver service and support to clients in 100 countries via their network of 11 logistics centers, 6 of them in the United States.
   
Matt Nord of Apollo said: ‘Through this investment, we are committed to expanding Tech Data’s position as a trusted partner to the world's leading technology vendors while providing best-in-class customer service.  As a private company with our sponsorship and a strong balance sheet, Tech Data will have significant financial and strategic flexibility to drive growth going forward.’
   
Robert Kalsow-Ramos of Apollo said: ‘We have tremendous respect for Tech Data’s talented management and colleagues around the globe and commend their success in establishing Tech Data as a leader at the center of the IT ecosystem.  We are excited to work with the Tech Data team and continuing to invest in the company’s people and end-to-end portfolio.’
  
Rich Hume of Tech Data said: ‘Over our 45-year history, Tech Data has grown to become one of the largest and most respected technology distributors in the world.  This agreement reflects the significant progress we have made in our strategy of delivering higher value and positions us for continued growth and success.  This investment by funds managed by one of the world’s leading global alternative investment managers will afford us added resources to speed up our ability to bring to market the technology products and solutions the world needs to connect, grow, and advance.  The transaction will enable us to build on our success, making Tech Data a growth platform and enabling us to further differentiate and expand our end-to-end solutions and provide our channel partners with unparalleled reach, efficiency, and expertise.’
   
Citigroup, JP Morgan, and Wells Fargo served as financial advisors to Apollo.  Wachtell, Lipton, Rosen & Katz and Paul, Weiss, Rifkind, Wharton & Garrison served as legal advisors.
   
Bank of America Securities served as financial advisor to Tech Data.  Cleary Gottlieb Steen & Hamilton served as legal advisor.

Comments

Post a Comment

Popular posts from this blog

Pepsi Buys Rockstar

Pepsi buys Rockstar .     P epsiCo buys Rockstar Energy Beverages for $3.85 billion.     Founded in 2001, Rockstar is drinks designed for people leading an active lifestyle. Available in 20 flavors at convenience and grocery stores in 30 countries. Distributed by PepsiCo in North America since 2009. Supporting the Rockstar lifestyle across the globe through action sports, motorsports, and live music. Pepsi's energy portfolio also includes Kickstart , GameFuel, and Amp Energy.     The deal reflects the shift from reliance on sales of sugary, fizzy drinks toward options ranging from tea and coffee to still and sparkling water varieties, which appeal to health-conscious and younger consumers. Neither PepsiCo nor Coca-Cola owns a major brand in the energy drinks category, which is forecast to grow to more than $80 billion over the next five years and is now dominated by Red Bull.     2 00 countries and territories around the world enjoy ...
Read more

Compass Buys Marucci

Compass buys Marucci.     Compass Diversified Holdings buys Marucci Sports for $200 million.     Marucci Sports was founded in 2009 by Kurt Ainsworth, a retired pitcher for the San Francisco Giants and Baltimore Orioles, Joe Lawrence, a former second baseman for the Toronto Blue Jays, and Reed Dickens, a former White House Assistant Press Secretary under George W. Bush.     Marucci ’s first buy was Marucci Bat Company, launched out of a backyard shed in 2004. Ainsworth then led the buyout of an Amish-run Pennsylvania wood mill in 2008. This solidified Marucci's superior wood supply, and it still supplies all Marucci's wood today. In 2017 Marucci bought Victus , a baseball equipment maker known for its edgy designs and big attitude.     With vertically cohesive wood bat production, a global supplier group, and a client base of MVPs and World Series winners, Marucci and Victus are the top two bats among Big League players. T...
Read more

Gilead Buys Forty Seven

Gilead buys Forty Seven.     Gilead Sciences buys Forty Seven for $4.9 billion.     Forty Seven is a clinical-stage immuno-oncology firm developing therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on tech licensed from Stanford. Forty Seven’s lead program, magrolimab , is a monoclonal antibody against the CD47 receptor, a ‘don’t eat me’ signal that cancer cells commandeer to avoid being ingested by macrophages. Evaluated ant ibodies are in many clinical studies of patients with myelodysplastic syndrome, acute myeloid leukemia, non-Hodgkin lymphoma, and solid tumors. These assets complement the cell therapy franchise Gilead added with its 2017 buy of Kite Pharma .     Beyond magrolimab , Forty Seven is fixing to advance two more compounds into clinical testing. Developing FSI-174, an anti-cKIT antibody, in combination with magrolimab creates a novel, all-antibody conditioning regimen to address ...
Read more