Ropes & Gray Advises Charlesbank Capital Partners in GTCR Transaction with Park Place Technologies
Ropes & Gray advised private equity firm Charlesbank Capital Partners in an agreement with Chicago-based private equity firm GTCR to sell a stake in Park Place Technologies, a leading global third-party maintenance provider to Charlesbank. The transaction was announced on July 23 and is expected to close in the third quarter of 2019. Financial terms were not disclosed.
Park Place Technologies provides a post-warranty alternative for storage, server and networking hardware maintenance for IT data centers. The company services more than 16,000 customers in over 140 countries with more than 1,200 employees.
The Ropes & Gray team was led by private equity transactions partner Taylor Hart and private equity associate PJ Sullivan (both of Boston). It included tax partners Pam Glazier and Aaron Harsh (both of Boston) and tax & benefits partner Joshua Lichtenstein (New York).