Service Express to merge with Park Place following private equity investment
The combined entity will count more than 3,000 employees and over 25,000 customers worldwide
US-based VAR Park Place Technologies is to merge with Service Express following a majority investment from private equity firm Warburg Pincus, as well as a minority stake by Temasek.
The combined business will employ over 3,000 staff and serve more than 25,000 customers across the Americas, Europe, and Asia.
This merger will reportedly enable both firms to expand their geographical reach and offer a broader range of technical capabilities.
The new entity will provide support across technologies such as GPU maintenance, liquid cooling, and managed infrastructure services, all while investing in AI and digitisation.
Chris Adams, CEO of Park Place, will become chief exec of the joint venture.
Ron Alvesteffer, CEO of Service Express, will serve as a director of the combined company's board.
"The rapid evolution of datacentre technology presents a historic opportunity, and I am confident that bringing together Service Express and Park Place will allow us to capitalise on this moment," said Adams.
“Together, we will combine the global presence, customer-driven culture and employee-centric values of Park Place with the nimble, service-first focus of Service Express, powered by the passion and commitment of our combined employees around the world.”
Alvesteffer added: “This combination with Park Place creates growth opportunities for team members at both companies.
“I look forward to combining the employee-first culture of Service Express, known for delivering outstanding service, with the global presence of Park Place."
Charlesbank Capital Partners and GTCR, which have supported Park Place's evolution since 2019, will exit their investment as part of this transaction.
Warburg Pincus has been provided an approximatively $3.6bn (£2.66bn) loan from lenders such as Ares and Blackstone to support the acquisition.
Over the last year, Park Place has been acquisitive itself, having bought out UK-based MSP CSI Ltd in May.
The company’s UK branch ranks number 41 in CRN’s Top VARs list.
US-based VAR Service Express also has a strong presence in the UK, with its British arm ranking number 72.