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.
Dear Chris and Andre, I just wanted to say thanks for all your help. Even though this process was not an easy one, it was comforting to know that I had a capable team standing beside me. You made me feel like we were almost your only client or at least the most important one. Thanks again, and I will recommend your service in the future.Shenille Engelhart, Owner – CLS Technology
I must say that I have never worked with a more driven, competent and focused individual as Don Ho.Jay Dinnison, Owner of Sharpe Mixers
We knew it would be a difficult task to have someone really understand our business and our market, prior to researching a possible buyer, so it was imperative that we found someone of your caliber, with definite proven experience in this area.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
We are extremely pleased with the way Generational Equity handled the sale of our company. Your associates, Tom and Chris, did an outstanding job of getting us (me) through the process.Michael J Polarek, President, Paragon Packaging
Thanks again Phil and feel free to have a future client call me if they would like a referral. You are a true professional!Andy Graham, Vice President, Modern Heating & Plumbing
Tom Staszak is one of the most professional people I have dealt with in my last forty years of business. You’ve got a great group of people and you have built a truly professional organization.Michael J Polarek, President, Paragon Packaging
I wanted to write you a quick letter to express our appreciation and our delight on the outcome of helping us through the process of our recent sale. We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Terry D. Wickman, President, Keytroller
We will highly recommend Generational Equity and Musa Jagne to any business owner about to embark on the same process.Karen S. Williams, CFO, BW Manufacturing
We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Generational Equity’s assistance was invaluable in compiling and marketing our business.Bil MacLeslie, CEO, ipHouse
Thank you again for all your guidance and support. Any company will achieve what they intend, if they have you on their team!Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
We thank you Eric and Generational Equity making our dream come true.Larry Moore, Owner, A Company Portable Restrooms
The process was much more involved than I expected and your help, experience and advice was a big factor in making the negotiations go as smoothly as possible.Terry D. Wickman, President, Keytroller
I couldn’t have asked for a better team than Michael and Deborah. We couldn’t have done it without them.Robert Evans, President and CEO of Mealtracker Dietary Software
Your wisdom and experience were invaluable to me during this once-in-a-lifetime transaction.Ralph Noblin, President of Noblin & Associates
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T.D., thank you so much! You are a great leader! I love how you are using your gifts and talents to better others. You are clearly a GREAT COACH! This 3 day session undoubtedly changed the future of our business, and very well may have been the sole catalyst to save my company, my health and my marriage! A genuine “thank you” from the bottom of my heart.Bryan D. Horn, Owner, Over Under Clothing
The help you provided us during each step of this process made us feel very comfortable and confident we were selecting the right approach to transition our Company.Andy Graham, Vice President, Modern Heating & Plumbing
Greetings Mike. Thank you for the captivating and compelling presentation you made at the Phoenix presentation last week. Over many years in business yours was the most informative and well-presented presentation, on any subject, that I have ever attended! Your energy and enthusiasm combined with your concise and captivating support of your positions with easily understood examples and data was compelling.Pete L.
Michael worked tirelessly, He followed every lead meticulously and urgently to make sure nothing was missed.Robert Evans, President and CEO of Mealtracker Dietary Software
Bruce and I wanted to take this opportunity to thank Generational Equity for assigning Musa Jagne to our transaction. In Bruce’s words, “Musa did one hell of a job for us!”Karen S. Williams, CFO, BW Manufacturing
I would like to thank you and your firm, Generational Equity, for being our valued advisors in our journey.Bil MacLeslie, CEO, ipHouse
Generational Equity educated and informed us – so that we could be on the upside of a good decision (to sell).Bil MacLeslie, CEO, ipHouse
I quickly recognized that Don was working for Sharpe Mixers above all else, and held our interests above others.Jay Dinnison, Owner of Sharpe Mixers
We were happy to see the interest in our company and what we cherished has not just a valuable company but an important company to the communities we served in.Larry Moore, Owner, A Company Portable Restrooms
I need to say an immense thank you to Don Ho for his stellar work ethic, attention to detail, and tireless effort. Also thank you to the whole crew at GE! Without you, Don could not do such a phenomenal job. We were shooting for closing and funding before the end of 2020, due to the uncertainty of the political landscape and taxes. I am happy to report we closed last week and will be funding tomorrow.Dr. Caty J. Catron PhD, RN, VA-BC – Owner, Vic The Picc, LLC
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