WestView Capital Partners Leads Recapitalization of Park Place Technologies

Cleveland, OH

Park Place Technologies, LLC (“Park Place” or the “Company”), a leading provider of third-party hardware maintenance services to small and medium enterprises, announced today that its current management team, led by CEO Ed Kenty, has partnered with WestView Capital Partners, a Boston-based private equity firm, to recapitalize the Company.

Headquartered in Cleveland, Ohio, Park Place provides hardware maintenance services, specializing in post-warranty server, storage and network devices, to over 1,500 customers primarily across North America. Park Place delivers mission-critical services through its network of field representatives to a broad mix of small and medium sized enterprises and Fortune 500 businesses. By servicing and extending the life of hardware, Park Place ensures maximum data uptime for its clients and allows customers high performance with reduced costs.

“Park Place has continued to strengthen its position as a leading third-party maintenance provider in the data center, and as IT departments across the world continue to be budget-constrained, we are seeing an increasing shift towards lower-cost, higher-quality maintenance providers who have the skill sets to support hardware across multiple OEM platforms,” said Ed Kenty, CEO of Park Place since 2004. “Our partnership with WestView further strengthens Park Place’s financial position and will support our continued growth and expansion into new product areas and geographical regions. We will also benefit from WestView’s extensive experience assisting technology service companies such as ours achieve their strategic objectives and growth potential.”

“We look forward to working with the Park Place team as they continue to capitalize on the growing opportunity for third-party maintenance providers and take market share with their top-quality service,” said Rick Williams, Managing Partner of WestView Capital, who will join Park Place’s board of directors. “The Park Place management team has achieved impressive results and they represent the type of proven managers with whom WestView looks to partner,” added Williams. “Our investment in Park Place continues our longstanding focus of partnering with experienced and passionate management teams in the technology outsourcing sector,” added Matt Carroll, a General Partner at WestView who will also join the board.

Abacus Finance Group, LLC provided senior debt financing for the transaction.

About Park Place Technologies:

Park Place Technologies is a provider of third-party hardware maintenance services, focused on servers, storage and other hardware in the data center. The Company’s services allow IT departments meaningful savings while maintaining high service levels. The Company’s customer base is comprised of over 1,500 organizations across a variety of industries, which make up more than 5,500 locations primarily in the United States and Canada. Park Place is headquartered in Cleveland, OH with an additional office in Marlborough, MA. More information is available at www.parkplacetechnologies.com.

About WestView Capital Partners:

WestView Capital Partners, a Boston-based private equity firm focused exclusively on lower middle market companies, manages over $500 million in capital in two funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in a wide range of industries including business and technology services, healthcare services, software, industrial/manufacturing, and consumer/retail. WestView targets companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $30 million. For more information, please visit www.wvcapital.com.