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THL to buy IT services company CompuCom for $1.1 billion - source

By Nadia Damouni

NEW YORK (Reuters) - IT outsourcing company CompuCom Systems Inc said Monday it is being bought by private equity firm Thomas H. Lee Partners, and a source close to the matter said the price tag will be $1.1 billion.

Dallas, Texas based CompuCom had been owned by Court Square Capital Partners, a private equity firm that was spun out of Citigroup Inc in 2006.

Platinum Equity had previously sold the technology services company to Court Square in 2007 for approximately $628 million.

CompuCom, which provides a broad range of technology that help clients through deployment, management and retirement lifecycle of their IT assets, touts Fortune 100 and 500 businesses among its clients. It reported gross revenue of $2.3 billion in 2012.

Citigroup Global Markets Inc, JP Morgan, BMO Capital Markets and Jefferies Finance LLC are providing committed financing for the transaction.

BMO Capital Markets and Jefferies LLC provided financial advice to THL and Citigroup Global is adviser to CompuCom and Court Square.

The transaction is expected to close in the second quarter of 2013, subject to regulatory approvals and the satisfaction of other customary closing conditions.

(Reporting by Nadia Damouni; Editing by Phil Berlowitz, Bernard Orr)

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