Platinum Equity to buy Ingram Micro for $7.2 bn

Platinum Equity has agreed to acquire Ingram Micro, the world’s largest provider of technology logistics services and solutions, from HNA Technology, in a transaction valued at $7.2 billion.
Ingram Micro Cloud business
The sale is expected to be completed by the first half of 2021, subject to HNA Technology shareholder and customary regulatory approvals.

Ingram Micro, headquartered in Irvine, California, generated more than $47 billion in revenue for fiscal year 2019.

“Ingram Micro is an industry leader, one of the largest companies and will be a cornerstone investment in our portfolio,” said Platinum Equity Chairman and CEO Tom Gores.

Ingram Micro has more than 35,000 employees and operations in 60 countries. The company serves more than 250,000 customers and partners with over 2,000 vendors, including the world’s best-known technology companies.

Alain Monie will continue to lead Ingram Micro as chief executive officer, and the company will continue to be headquartered in Irvine, California.