Park Place Technologies has acquired Custom Hardware Engineering & Consulting Inc., a Missouri-based third party maintenance provider.
Park Place Technologies intends to acquire all of CHE’s business, enabling Park Place Technologies to further expand its operational depth. The company expects to leverage CHE’s specialty in helping companies get better data center ROI from their multi-platform, enterprise systems. Since 1997, CHE has provided large-class enterprise clients with independent, multi-vendor third party maintenance support services for disk and tape storage, networking, mainframes and mid-range server hardware equipment located in data centers throughout the United States.
CHE is particularly strong in the government vertical and has deep enterprise storage and mainframe skills which complement Park Place Technologies’ breadth of knowledge.
“With this acquisition, Park Place further strengthens its engineering and parts advantages in the United States,” said Chris Adams, President and CEO, Park Place Technologies, in a statement. “We look forward to bringing our award-winning proactive maintenance services and global support to CHE customers.”
CHE President and CEO David York added: “CHE is very excited about this opportunity for its customers and company. The growth and expansion possible from CHE’s innovative technologies coupled with Park Place’s established platforms, will be well received in the industry and beneficial to all parties.”
New York-based Agile Equity provided exclusive investment banking services to CHE on its sale to Park Place Technologies.
“There’s a fantastic strategic fit between the companies and we are pleased to have facilitated the transaction for the shareholders,” Agile Equity Managing Partner Dave Cummings said in a statement.
This is the second acquisition for Park Place Technologies in 2020 and its 14th since 2016. In January, Park Place acquired the network operations center of Cleveland-based IntelliNet.
