World Data Products Acquires Infinity Data Solutions
With Acquisition, Prospect Partners' Portfolio Company Expands IT Offering in Data Storage Services
CHICAGO, Ill.—October 31, 2013: Prospect Partners, a leading private equity firm investing in smaller lower-middle-market companies, today announced the strategic acquisition of Infinity Data Solutions, LLC (IDS), by its portfolio company World Data Products, Inc. (WDPI), a leading independent provider of on-demand new and OEM-quality refurbished IT hardware.
The acquisition of IDS significantly expands WDPI's data storage offering. IDS, which provides a variety of differentiated data storage services, specializes in the data eradication and certification of magnetic media tape. Its industry-leading processes ensure that each tape is error-free and surpasses new tape performance, while providing customers significant cost savings compared to buying new.
IDS's other data center services include data migration, labeling and initialization, data center relocation and migration, magnetic tape cleaning, tape library audits, asset recovery, high security data transportation, and tape buy-back.
"The acquisition of Infinity Data Solutions is consistent with our goal of making add-on acquisitions of niche leaders that can further bolster World Data Products' strong reputation for providing high-quality refurbished products while increasing the company's presence in the growing data storage market," said Brett Holcomb, a Vice President at Prospect Partners.
"We are very excited about the opportunity to partner with IDS," added Neil Vill, WDPI's President and Chief Executive Officer. "This investment represents an important strategic opportunity to combine two industry-leading brands to offer a comprehensive range of IT hardware, IT repair, and data center solutions that are customizable to each customer's unique needs."
WDPI is a world-class independent provider of on-demand new and OEM-quality refurbished server, storage, and networking hardware to enterprise-level Information Technology (IT), healthcare, education, retail, manufacturing and government organizations. By taking a brand-agnostic approach and focusing on each organization's unique hardware requirements, WDPI is able to offer flexible, customized solutions that save customers up to fifty percent or more on their hardware investment. WDPI sells leading hardware brands such as Cisco, DELL, IBM and HP.
IDS will relocate its operations in early 2014 from Omaha, Neb., to WDPI's headquarters in Minnetonka, Minn.
About Prospect Partners
Prospect Partners is a leading private equity firm investing in smaller lower-middle-market companies, managing $470 million across three funds. A highly experienced and active investor, Prospect Partners focuses exclusively on management-led recapitalizations and acquisitions of niche market leaders with revenues typically under $75 million. Since 1998, Prospect Partners has invested opportunistically nationwide in more than 100 companies in a broad range of niche manufacturing, distribution, and specialty service markets. Based in Chicago, Prospect Partners also has an office in Menlo Park, Calif.