U.S. private equity firm Platinum Equity said today it had entered into a definitive agreement to acquire Irvine-based Ingram Micro Inc., the world’s largest provider of technology logistics services and solutions, from HNA Technology Co. Ltd. of China in a transaction valued at $7.2 billion.
The sale is expected to be completed by the first half of 2021, subject to HNA Technology shareholder and customary regulatory approvals, according to an announcement from Platinum, which was founded in 1995 by Tom Gores. The firm is based in Los Angeles.
Ingram Micro generated more than $47 billion in revenue for fiscal year 2019.
Upon closing, Alain Monié will continue to lead Ingram Micro as chief executive officer, and the company will continue to be headquartered in Irvine.