By Capital MarketsDec 19, 2018, 02:00 et
Generational Capital Markets, Inc., Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Solid Systems CAD Services (SSCS), to Park Place Technologies. The acquisition closed October 4, 2018.
SSCS, based in Houston, Texas, provides third-party maintenance and IT enterprise hardware support with a team whose average tenure at the company is 14 years. As an alternative to OEM support, SSCS dramatically impacts operating expense budgets for post-warranty servers, storage systems and networking hardware.
"Our customers and employees have always served as a guide for our business. We have carefully and transparently created tailored solutions for our customers and have extended this level of attention and purpose to the establishment of our team," said Gahlen Carpenter, President, Co-Founder and Owner of SSCS. "The decision to be acquired by Park Place Technologies was an extremely thoughtful one and represented the best interests of our partners and employees. It's been an honor to be part of SSCS, and this change brings great opportunity for our organization and customers as Park Place Technologies upholds the values and culture we have ingrained in our company."
Park Place Technologies is a leading provider of data center hardware maintenance and is committed to delivering superior service that exceeds customer expectations. It provides a post-warranty alternative to storage, server and networking hardware maintenance for IT data centers. With 24/7 access to a global contact center, support from the industry's most advanced engineers and a wide array of industry leading and award-winning services, Park Place Technologies empowers its customers to improve operational speed and maximize uptime.
The company's services are spread across 35,000 data centers in more than 115 countries, and it serves businesses ranging from government, higher education, and healthcare institutions to cloud service providers, SMB and Fortune 500 companies. Its global headquarters are in Cleveland, Ohio.
The deal to acquire SSCS marks the ninth acquisition Park Place Technologies has made over the past 24 months. Through this acquisition, Park Place Technologies will expand its scale within the TPM industry, resulting in added benefits for its global customers, which include an elevated level of service and operational support, greater resource availability and increased efficiencies.
"As a veteran third-party maintenance provider, SSCS is well-respected for its exceptionally talented and tenured team, which includes leaders instrumental in the foundation of our industry," said Chris Adams, President and COO of Park Place Technologies. "SSCS has cultivated strong, long-term customer relationships as a result of its approach to service excellence and the ability to drive meaningful business value. SSCS' approach is admirable and closely aligns with how we engage with our customers."
Generational Capital Markets Senior Managing Director Tom Staszak, with support from Senior VP Chris Gain, successfully closed the deal. Senior Managing Director Thomas Hamm established the initial relationship with SSCS. Agile Equity and its Managing Partner Dave Cummings co-represented SSCS with Generational Capital on the transaction.
"SSCS is an outstanding company with extensive international operations," said Staszak. "The company is an ideal complement to Park Place's operations and growth strategy."
About Generational Capital, LLC
Generational Capital, LLC, is a Dallas, Texas-based merger and acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at www.gencm.com.
Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016, 2017, and 2018.
GCM's most recent awards include The M&A Advisor's 2018 International Deal of the Year Awards in the professional services, corporate/strategic and private equity categories.
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