CompuCom

In 1987, the venture capital firm Safeguard Scientifics formed CompuCom by merging two computer-focused tech companies, Tri-Star Data Systems and Office Automation. Led by CEO James W. Dixon, the company initially focused on reselling microcomputers from giants like IBM and Compaq, but it was their move into managed IT services that defined their long-term strategy. This involved providing outsourcing, integration, and support for the growing digital workplace. By listening to their customers, CompuCom evolved from a product seller into a services provider, a pivot that allowed them to outlast many competitors. The company's journey involved multiple changes in ownership. After going public in 1987, it was taken private in 2004 by Platinum Equity. This was followed by acquisitions by Court Square Capital Partners in 2007 and then Thomas H. Lee Partners in 2013. A landmark event occurred in 2017 when Office Depot acquired CompuCom for approximately $1 billion, aiming to transform from a retail-focused company to a broader business services platform. However, this integration proved challenging. In early 2022, Office Depot's parent company, ODP Corp., sold CompuCom to the private equity firm Variant Equity for up to $305 million, a fraction of the initial purchase price. This move signaled a new chapter for CompuCom, allowing it to refocus on its core mission of providing managed IT services under new ownership.