Combined company will build on momentum of both businesses to drive significant growth and better serve customers in a time of rapid technological change
Warburg Pincus, together with a significant minority investment by Temasek, has signed a definitive agreement to make a majority investment in Park Place Technologies (“Park Place”), a global provider of data center services. After the transaction closes, Park Place and Service Express, an existingWarburg Pincus portfolio company, will merge to create a global data center services company with over 3,000 employees and over 25,000 customers across North America, Europe, Asia and South America. Charlesbank Capital Partners and GTCR, which have jointly supported Park Place's growth since 2019, will exit their investment as part of this transaction.
This combination will enable both companies to better serve their customers in a highly competitive space and in a time of rapid technological change by deepening proficiency across traditional, cloud and AI-accelerated hardware. Expanded geographic coverage and a broader range of technical capabilities will provide more reliable support across a wider spectrum of technologies, including services for emerging technologies such asGPU maintenance and liquid cooling as well as managed infrastructure services, all of which will be essential as companies accelerate their investment in artificial intelligence and digitization.
Upon closing, Chris Adams, CEO of Park Place, will become CEO of the combined company and Ron Alvesteffer, CEO of Service Express, will serve as a Director on the combined company's Board.
“The rapid evolution of data center technology presents a historic opportunity, and I am confident that bringing together Service Express and Park Place will allow us to capitalize on this moment,” said Chris Adams, CEO of Park Place. “I am honored to lead both companies into this next phase of growth. 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. We are confident that the combined business will provide significant growth prospects and allow us to better serve our customers.”
“This combination with Park Place creates growth opportunities for team members at both companies,” said Ron Alvesteffer, CEO of Service Express. “I am committed to supporting Chris, and am excited and ready to transition to a Board Director after close. I look forward to combining the employee-first culture of Service Express, known for delivering outstanding service, with the global presence of Park Place.”
The timing of the transaction closing is subject to customary regulatory approvals.
Cleary Gottlieb served as legal counsel to Warburg Pincus and Service Express. Ropes & Gray served as legal counsel,Moelis & Company served as lead financial advisor, and Goldman Sachs served as financial advisor to Park Place.
About Service Express Service Express is a data center solutions provider specializing in multivendor maintenance, managed infrastructure and hardware services. For more than 30 years, Service Express has worked alongside organizations worldwide to deliver results by maximizing infrastructure investments, refining IT strategies and adapting to evolving demands. Service Express continues to be recognized for its commitment to providing long-term, people-powered solutions that build lasting relationships and exceed expectations. For more information, visitserviceexpress.com.
About Park Place TechnologiesPark Place Technologies is an IT infrastructure services firm that helps organizations reduce the time and cost of managing IT environments, while improving performance and uptime. Powered by a global team of engineers and support professionals, Park Place brings deep expertise and dedication to every customer engagement. By simplifying IT infrastructure management, the company frees internal teams to focus on strategic priorities and delivers measurable value that enables customers to innovate with confidence. For more information, visit ParkPlaceTechnologies.com.
Media Contacts
Service ExpressCallan Youngcyoung@serviceexpress.com
Park Place TechnologiesMichael Millermmiller@parkplacetech.com
Warburg PincusKerrie Cohenkerrie.cohen@warburgpincus.com
CharlesbankRyan FitzGibbon / Alexa Ottenstein / Peter Gavarispro-charlesbank@prosek.com
GTCRJosh Clarkson/Ryan Smithpro-GTCR@Prosek.com
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SOURCE Warburg Pincus
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