AVI-SPL has announced that it has entered into a definitive agreement to merge with Whitlock, an existing portfolio company of Marlin Equity Partners [Marlin]. The company, which will be worth over $1bn, will be known as AVI-SPL going forward.
The transaction is subject to customary closing conditions and is expected to close in the first quarter 2020. In conjunction with the merger, Marlin will become the majority shareholder, with H.I.G. Capital coinvesting through a minority equity stake.
Upon closing, current Whitlock customers will have access to AVI-SPL’s 24/7 Global Services Operation Centers, as well as new remote management and monitoring capabilities provided by AVI-SPL’s proprietary Symphony offering.
John Zettel, CEO of AVI-SPL, said: “This is an incredibly exciting new chapter for our company, our employees, and our customers. AVI-SPL and Whitlock have always shared a mutual admiration and respect for one another due to our similar passion for innovation and commitment to providing world-class customer experiences. Combining these strengths along with our talented employees, strong global partnerships, and worldwide resources will ensure we continue to deliver the very best experience for our local and global customers undergoing digital transformations.”
Doug Hall, CEO of Whitlock, said: “The unification of our talented, passionate teams, as well as our local and global resources, will drive significant value to our customers and employees. Together we are delivering exactly what our customers have been seeking – comprehensive technology management and sustainable support solutions that enhance the end-user experience, increase technology adoption and usage, and improve business outcomes. This is an exciting time for our employees, our partners, and our customers.”
Alex Beregovsky, a managing director at Marlin, added: “The digital workplace services industry has an incredible amount of untapped potential. The combined company significantly benefits from deeper resources, broader technology expertise and enhanced local presence. We look forward to partnering with the AVI-SPL and Whitlock teams to help them fully reach their potential and ensure customer success around the world.”