Private equity firm Platinum Equity of Los Angeles has completed its $7.2 billion acquisition of Irvine-based electronics and technology distributor Ingram Micro Inc. from China-based HNA Technology Co., Ltd.
With $49 billion in revenue for fiscal year 2020, Ingram Micro is the world's largest provider of technology solutions and mobility, cloud, platform and supply chain solutions.
"Ingram Micro plays a vital role helping companies innovate and adapt, which is especially important now as we continue to emerge from the pandemic," Platinum Equity Chairman and Chief Executive Tom Gores said in announcing the completion of the sale.
The $7.2 billion enterprise value in the sale includes $5.9 billion of equity value. HNA Technology Co. Ltd. is a part of HNA Group of China.
Alain Monié will continue to lead Ingram Micro as CEO, supported by his leadership team, and the company will continue to be headquartered in Irvine.
For more information, please see the July 12 printed edition of the Business Journal.