Park Place

Year of Investment:

2019

Strategy

Flagship

Industry

Technology

Headquarters

Cleveland, OH

Status

Active

Website

https://www.parkplacetechnologies.com

Business

Park Place is a global data center and networking optimization firm. As a leading, global third-party maintenance (“TPM”) provider, it offers post-warranty data center equipment maintenance services through recurring contracts. The company has expertise across all major OEMs and capabilities to support more than 16,000 customers annually across the globe.

Charlesbank Investment

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.