Park Place Technologies
IT services and consulting
Year of Investment
2019
Sector(s)
Technology & Technology Infrastructure
Status
Realized
Website
parkplacetechnologies.com(Link opens in new window)Headquarters
Cleveland, OH
Park Place Technologies is a global third-party maintenance provider offering post-warranty data center equipment maintenance and monitoring services through recurring contracts. The company supports more than 21,000 customers annually across the globe and provides expertise across all major hardware OEMs. Park Place operates in the growing third-party maintenance market, benefiting from increasing global hardware fleet complexity and rising demand for outsourced infrastructure services.
Investment Summary
Charlesbank acquired a joint control interest in Park Place Technologies in September 2019 after tracking the company for nearly two years. The investment thesis focused on Park Place’s leadership in third-party maintenance, a differentiated sales model, strong customer retention, and the opportunity to expand into higher-margin monitoring and managed services. Charlesbank partnered with management to accelerate growth through organic initiatives and a disciplined, accretive M&A strategy.
As Park Place scaled, having the right partner truly mattered. Charlesbank brought deep experience, a disciplined focus on data and a constructive way of driving results, which was critical as we positioned the business for sale and negotiated a successful merger.”
Chris Adams, Park Place President & CEO
Organizational Investments
We partnered with management to invest in the leadership and infrastructure needed to scale – strengthening the executive team, improving operational processes and supporting systems to manage a more complex global business while maintaining high service levels.
Drive Programmatic M&A
We helped advance the M&A strategy, including the transformative Curvature acquisition in 2020. Identified during underwriting, the deal expanded market reach, strengthened next-generation offerings, created a data center maintenance leader and delivered significant synergies while restoring growth.
Scaling Commercial Capabilities
We helped expand Park Place’s sales and service organization, investing in strategist recruitment and global sales capacity to accelerate organic growth, international expansion and new product rollouts. We supported enhancements to monitoring and managed services offerings and increased cross-selling – deepening customer relationships and driving sustained growth across a blue-chip customer base.
Exit
In 2025, we exited the investment as Park Place merged with a competitor.
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