Kumarakulasingam Suriyakumar, Dilantha Wijesuriya, Jorge Avalos, Rahul Roy, Sujeewa Sean Pathiratne, a private investor, and certain entities affiliated signed a non-binding proposal to acquire 80.4% stake in ARC Document Solutions, Inc. for $approximately 110 million.
June 28, 2024
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Kumarakulasingam Suriyakumar, Dilantha Wijesuriya, Jorge Avalos, Rahul Roy, Sujeewa Sean Pathiratne and certain entities affiliated signed a non-binding proposal to acquire 80.4% in ARC Document Solutions, Inc. (NYSE:ARC) for $approximately 110 million on April 8, 2024. The purchase price of $3.25 per share in cash in the proposed Transaction. The Acquisition Group currently beneficially owns approximately 19.6% of the Company's outstanding shares of common stock, $0.001 per share. The Board of Directors of ARC Document Solutions, Inc. formed a special committee for the transaction. The Special Committee intends to carefully consider the Proposed Transaction with the assistance of its independent financial and legal advisors. No assurances can be given regarding the terms and details of any transaction, that any proposal made by the Acquisition Group regarding a proposed transaction will be accepted by the Special Committee, that definitive documentation relating to any such transaction will be executed, or that a transaction will be consummated in accordance with that documentation, if at all.
William Blair & Company, L.L.C. acted as financial advisor for ARC Document Solutions, Inc. K&L Gates LLP acted as legal advisor for ARC Document Solutions, Inc. Wilmer Cutler Pickering Hale and Dorr LLP acted as legal advisor for ARC Document Solutions, Inc.
ARC Document Solutions, Inc. is a provider of digital printing and document-related services. It also provides other digital printing and scanning services to a variety of industries all over North America and in select markets around the world. Its primary services are digital printing of general and specialized business documents, such as those found in marketing and advertising, engineering and construction and other industries, as well as producing customized display graphics of all types and sizes; acquiring, placing and managing office printing equipment with device tracking and print management software at its customerâs offices and job sites; scanning documents, indexing them and adding digital search features for use in digital document management, document archives and facilities management, as well as providing other digital imaging services; and reselling digital printing equipment and supplies. Its products and services are available from each of its service centers.
Kumarakulasingam Suriyakumar, Dilantha Wijesuriya, Jorge Avalos, Rahul Roy, Sujeewa Sean Pathiratne, a private investor, and certain entities affiliated signed a non-binding proposal to acquire 80.4% stake in ARC Document Solutions, Inc. for $approximately 110 million.
ARC DOCUMENT SOLUTIONS, INC. 
