PNH Technology Inc and Sourcing Solutions LLC Merge
COSTA MESA, Calif. - Nov. 19, 2018 - PRLog -- PNH Technology Inc. and Sourcing Solutions LLC (SSL) have entered into a definitive merger agreement to create a global technology leader with a commitment to serving customers.
PNH Technology Inc is a leading eCommerce online marketer and a computer hardware reseller. Sourcing Solutions LLC (SSL) is a leading logistics and distribution partner who provides support to resellers for new, end of life and refurbished IT hardware through strategic distribution agreements. Both companies have experienced explosive growth in the past five years. Each company has been consistently featured in the Fastest Growing Private Companies List by the OCBJ (Orange County Business Journal) as well as the prestigious Inc 5000 Fastest Growing Companies Lists. Sourcing Solutions has made the OC Registers Best Places to Work three years in a row. PNH Tech was recognized as one of the Top Datacenter Companies by CIO Magazine.
Larry Weng, CEO at PNH, will assume the same responsibilities at the combined entity while SSL CEO, Kara Poovey, will move to the Board of Directors. Kara and Larry have worked together at prior ventures and have a strong working relationship going back to their days at UCLA together. Ken Bast will remain as COO and General Manager of the Distribution division. Kent Kerbs will remain as CFO. Lloyd Seeley will remain as CTO. John Hyatt will remain as General Counsel. Chris Raub and Greg Dalby will become General Managers of their respective operating units.
"I am very excited about the potential of two strong companies coming together. In addition to the cost-saving synergies, the real opportunity lies in the combined knowledge and growth opportunities as we focus on new markets, product lines and joint ventures," says Larry Weng. "I feel that our combined companies provide a compelling offering for our manufacturer, reseller and distribution partners in that we can drive value, profit and solutions at each level of the channel. Culturally, it's a perfect fit as we all share the same values: fanatical customer service, deep market and product expertise and a focus on relationships. This marriage has been a long time in the making and I can't wait to get started."
"I'm delighted to have Larry take the helm of our combined entity and chart a course for the future. His depth of character and integrity are fundamental to his leadership style, which combines transparency and collaboration with candor. I'm confident that his relentless focus on execution and customer service will create long-term success for the team, and I look forward to continued engagement at the board level," said Kara Poovey.
The merged entity will be headquartered in Costa Mesa at SSL headquarters on Red Hill Ave.