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GTCR and Charlesbank have exited Park Place Technologies after its merger with Service Express, a portfolio company of Warburg Pincus. The newly formed entity will operate as Park Place Technologies, headquartered in Cleveland, Ohio, with a significant presence in Grand Rapids, Michigan.

Chris Adams has been appointed as CEO and will serve on the board of directors, alongside Ron Alvesteffer, former CEO of Service Express, who will also be a board director. This merger aims to enhance Park Place's position in the global market for data center and infrastructure services.