Platinum Equity-backed IT distribution specialist Ingram Micro is eyeing a valuation of up to $5.42bn through a return to the public markets. Platinum will be selling 7 million of the 11.6 million shares on offer through the IPO, priced at between $20 and $23 each. Ingram was taken private by China’s HNA Group in 2016, before a $7.2bn buyout by Platinum three years ago. The company filed for an IPO in late 2022, but did not follow through on that plan.
Bridgepoint has agreed to reinvest in liquidity performance SaaS provider Kyriba, in a $3bn deal which sees General Atlantic come in as a minority investor. Kyriba aims to help CFOs, Treasurers and IT leaders at companies and banks improve their financial performance and increase operational efficiency. Following five years of support from Bridgepoint, Kyriba has tripled its software revenue, and now serves close to 3,000 customers in 170 countries. David Nicault, partner and global head of tech investment at Bridgepoint, said, “With an addressable market of $15 billion for enterprise liquidity performance and significant white space, the growth opportunities ahead are vast.”
PE investor NewSpring has acquired Xpect Solutions, a provider of enterprise IT and security solutions to the FBI, Department of Justice and the National Institutes of Health agencies. The deal is the third active platform investment within the NewSpring Holdings Federal Platform, a group of businesses that provide mission-critical solutions to meet the needs of the US Government. Xpect offers solutions including engineering and network infrastructure, cybersecurity, cloud services, and data center management.
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