Park Place is a leading, global third-party maintenance (“TPM”) provider, offering post-warranty data center equipment maintenance services through recurring contracts. The company offers expertise across all major OEMs and has capabilities to support more than 16,000 customers annually across the globe.
Charlesbank tracked Park Place as an attractive investment opportunity for nearly two years. In September 2019, we acquired a joint control interest in the company from GTCR, with whom we had developed a deep relationship from prior shared ownership of a company and joint evaluation of opportunities over the years. Charlesbank and GTCR own 50% of Park Place before rollover from management and share control of the Board of Directors.