Overview Key strengths Key risks High recurring revenue profile and customer retention rates. High leverage around mid-6x. Diverse client base that spans numerous geographies and industry verticals. Small scale and participation in the highly fragmented and competitive third-party maintenance provider market. Adequate liquidity with full availability under the revolver. Aggressive financial policy with a history of debt-funded acquisitions. PPT?s hardware segment sells refurbished networking, server, and storage equipment. In 2022, supply chain constraints limited production of new data center hardware by original equipment manufacturers (OEMs). This unfilled demand created an opportunity for PPT to fill the gap, and so the hardware segment's revenue grew 45%. As global supply chain issues subside this year, PPT?s hardware sales have started to normalize,
