IPC Systems, a provider of network services and a portfolio company of Silver Lake Partners, has been acquired by Centerbridge Partners. Silver Lake first invested in IPC Systems in August 2006.
IPC is a provider of network services and trading communication technology to the financial markets. The company’s products support traders and participants at sell-side and buy-side financial institutions, inter-dealer brokers, liquidity venues, clearing and settlement firms, independent software vendors, corporate finance departments, financial information exchange providers and market data providers. IPC’s global reach extends to more than 60 countries – including a network of 5,000 customer sites over 700 cities and an installed base of approximately 120,000 trading positions worldwide. The company has approximately 900 employees and is headquartered in Jersey City, NJ (www.ipc.com).
“IPC has a track record of innovation and success that has made it a valued strategic partner to the world’s most preeminent financial institutions,” said Jared Hendricks, Senior Managing Director at Centerbridge. “The company is uniquely positioned to deliver tailored, state-of-the-art solutions to serve the complex needs of the financial services community.”
IPC was advised by Evercore and Goldman Sachs. Centerbridge was advised by Barclays and Credit Suisse Securities.
Centerbridge Partners invests from $50 million to $300 million in US based leveraged buyouts and distressed securities. The firm has $25 billion of capital under management and is headquartered in New York with an additional office in London (www.centerbridge.com).
“Last year was one of IPC’s best years on record and we are expanding on that momentum,” said Mr. Neil Barua, Chief Executive Officer of IPC. “Our focus remains on delivering products and services that contribute to our customers’ success. This unwavering commitment to our customers coupled with Centerbridge’s proven ability to drive long-term sustainable growth will further strengthen our global brand. We look forward to working together with our new owners.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-9-15
