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Potential Pomeroy buyer backs out

May 19 2008

Pomeroy IT Solutions Inc. (NASD: PMRY) said Charlesbank Partners LLC withdrew its offer to buy the information technology services and staffing company. Pomeroy announced April 9 that Charlesbank and Pomeroy's founder and largest shareholder, David Pomeroy, had offered to buy the firm for $7.05 a share. Pomeroy is still interested in acquiring the public company and is searching for other financing, the company said.

A special committee of the board put together to weigh the offer and other alternatives will continue assessing the company's options. The company posted a net loss of $4.2 million its first quarter on revenue of $143.6 million.

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