M&A: Tide Rock Acquires Circular IT Asset Management Firm Premier LogiTech

Tide Rock, an investment firm focused on sustainable IT services, has acquired circular IT asset management firm Premier LogiTech of Dallas, Texas. Financial terms of the deal were not disclosed.

This is M&A deal number 256 that Sustainable Tech Partner has covered so far in 2024. Related: See all M&A deals involving sustainability, climate tech and green IT services listed here.

This is Tide Rock's second acquisition in recent days. The other involved Full Circle Electronics, backed by Tide Rock, acquiring Global Electronics Recycling (GER) -- an IT Asset Disposition (ITAD) specialist.

Tide Rick Acquires Premier LogiTech: Business Backgrounds

Premier LogiTech, founded in 2007, specializes in technology logistics -- including product sourcing, warehousing, asset management, configuration services, fulfillment services, delivery, reverse services, product repair and reclamation, the company said.

Premier LogiTech has 87 employees listed on LinkedIn, though we don't know the company's actual headcount figure.

Premier LogiTech is a certified partner for Cisco Systems, Dell, Microsoft, SonicWall and VMware, among others. The company is the Authorized Service Center and lead supply chain partner for over 30 major OEMs (original equipment manufacturers) and brands. Under terms of the Tide Rock deal, Premier has acquired the global license for Motorola networking products. We're checking to see how that license will potentially benefit Premier LogiTech and its customers.

About the Buyer: Tide Rock, founded in 2013, is based in Solana Beach, California. The unlevered buyout firm acquires companies with strong free cash flow and grows them to scale, while distributing high quarterly yield to its investors, Tide Rock said.

Tide Rock typically acquires B2B (business to business) companies that have annual EBITDA (earnings before interest, taxes, depreciation and amortization) of $2 million to $7 million.

Tide Rock Acquires Premier LogiTech: Executive Perspectives

In a prepared statement about the deal, Tide Rock President Brooks Kincaid said: "With its robust distribution network and expanding customer base, Premier LogiTech represents a critical addition to the Tide Rock portfolio. Their comprehensive suite of services and deep integration with industry leaders align well with our vision of investing in platforms that deliver exceptional value and quality to its customers. We are excited to support Premier LogiTech in its next phase of growth."

Added Premier LogiTech CEO Scott Paul: "Our reputation for standard-setting quality is founded on our ensuring consistency across every part of the electronics lifecycle. We are winning important contracts in the telecommunications and technology industries right now because Premier Logitech is the solution to a fragmented and variable sourcing process that can deliver inconsistent results and quality to end users."

We'll be watching to see if or how Tide Rock aligns Premier LogiTech with its other investment portfolio holdings.