Recapitalization • Information Technology

WestView Capital Partners and Pleasant Bay Capital Partners Acquire Park Place Technologies

On November 7, 2012, private equity firms WestView Capital Partners and Pleasant Bay Capital Partners acquired information technology company Park Place Technologies

Acquisition Context
  • This is WestView Capital Partners’ 2nd and Pleasant Bay Capital Partners’ 1st transaction in the Information Technology sector.
  • This is WestView Capital Partners’ 18th and Pleasant Bay Capital Partners’ 4th transaction in the United States.
  • This is WestView Capital Partners’ 2nd and Pleasant Bay Capital Partners’ 1st transaction in Ohio.
Investment Fate
  • Park Place Technologies was sold to a consortium of financial buyers in 2015.
  • Park Place Technologies was sold to a consortium of financial buyers in 2025.

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M&A Deal Summary

Date November 7, 2012
Target Park Place Technologies
Sector Information Technology
Buyer(s) WestView Capital Partners
Pleasant Bay Capital Partners
Deal Type Recapitalization
Advisor(s) Covington Associates (Financial)

Target Company

Park Place Technologies

Cleveland, Ohio, United States
Park Place Technologies is a third-party maintenance (TPM) provider that offers organizations an alternative to post-warranty storage, server and networking hardware maintenance and support in the data center. Park Place Technologies supports EMC, Dell, IBM, Cisco, Hitachi, NetApp, HP, Sun/Oracle and other data center hardware equipment in over 70 countries. Park Place Technologies was founded in 1991 and is based in Cleveland, Ohio.
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Buyers Overview 2

Buyer

WestView Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

WestView Capital Partners is a private equity firm focused on investing in lower middle-market companies. WestView looks to commit between $20 and $100 million in a variety of recapitalization, growth financing, buyout and consolidation transactions. Prospective companies generally exhibit consistent growth and financial performance as well as sustainable competitive advantages and market position. Sectors of interest include business services, industrial and manufacturing, distribution and logistics, consumer products and retail, healthcare services, environmental services, and media/publishing. The Firm's geographic preference is North America. WestView Capital Partners was formed in 2004 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 18 of 56
Sector: Information Technology 2 of 14
Type: Recapitalization 7 of 15
State: Ohio 2 of 2
Country: United States 18 of 56
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-22 Providea Conferencing

Camarillo, California, United States

Providea Conferencing is a provider of video conferencing solutions and managed services. Providea Conferencing’s comprehensive, best-of-breed service offering includes hardware and installation, network services, conference bridging, managed video solutions as well as maintenance and support services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-30 Ruffalo Noel Levitz

Cedar Rapids, Iowa, United States

Ruffalo Noel Levitz is a provider of fundraising, membership and enrollment management services and software for institutions of higher education and high-affinity nonprofit organizations. Ruffalo Noel Levitz was founded in 1991 and is based in Cedar Rapids, Iowa.

Sell -
DESCRIPTION

Pleasant Bay Capital Partners is a merchant bank focused on investments in profitable, lower middle-market companies in the healthcare, technology, business services, consumer, and industrial products/services sectors. Prospective transaction situations include buyouts, growth capital financings, recapitalizations, shareholder liquidity needs, and buyouts. Pleasant Bay Capital Partners was established in 2012 and is based in Boston, Massachusetts.


Deal Context for Buyer #
Overall 4 of 10
Sector: Information Technology 1 of 3
Type: Recapitalization 1 of 2
State: Ohio 1 of 1
Country: United States 4 of 10
Year: 2012 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-05 VisualDx

Rochester, New York, United States

Logical Images is a medical informatics company that has developed VisualDx, a clinical decision support software system designed to be used by non-expert clinicians at the point of care to meet the need for fast, easy, and accurate visual identification. Logical Images was formed in 1999 and is based in Rochester, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-28 Damac Products

La Mirada, California, United States

Damac Products, Inc. is a manufacturer of custom data center infrastructure equipment. Damac's data center infrastructure products include server cabinets, wall mount racks, seismic and thermal management products, power distribution equipment, and cable runway systems. Damac product line includes more than 2,500 items engineered to the most exacting specifications. Damac Products was founded in 1984 and is based in La Mirada, California.

Buy -