GTCR, a Chicago-based private equity firm, sold Park Place Technologies, a leading global third-party maintenance (TPM) provider, to Charlesbank Capital Partners, a Boston-based private equity firm. The terms of the transaction were not disclosed. Chris Adams, CEO of Park Place, said: "GTCR has been a highly strategic partner supportive of our growth efforts in recent years and we are excited to continue our partnership. We are thrilled to add a new partner in Charlesbank and value their expertise and insight in technology and data center infrastructure. We look forward to working with both firms who share our vision and commitment to scaling the business further." Mr. Adams continued, "More importantly, we look forward to continuing to provide our customers with exceptional service while selectively identifying acquisitions to bolster Park Place's position in the market."