Platinum Equity Buys IT Company

0

Platinum Equity said Thursday that it acquired a majority stake in Canvas Systems LLC, a global supplier of used and refurbished enterprise-class IT equipment and services.

Platinum Equity, a Los Angeles private equity firm led by billionaire Tom Gores, did not disclose financial terms. Canvas Systems is based in Norcross, Ga. and was acquired from OHC LLC, an Atlanta company that also owns IT consulting firm Corus360.

Platinum partner Jacob Kotzubei, who oversaw the investment, said Canvas is a natural fit given Platinum’s history in the information technology equipment and services industry. “Canvas is a growing business with talented people and a compelling value proposition,” said Kotzubei in a statement.

Canvas has more than 3,500 customers in more than 65 countries, ranging from mid-sized businesses to Fortune 500 companies.

No posts to display