New York private equity firm Apollo Global Management announced Wednesday that it intends to buy Tech Data, the largest company headquartered in the Tampa Bay area measured by revenues.
Just how big is Tech Data? The Largo-based technology distribution company brought in almost 60 percent more revenues than second-ranked Jabil Inc., located in St. Petersburg, or 23 times as much as New Port Richey’s Welbilt, which ranked 10th.
News of the pending sale comes a few months after St. Louis-based Centene said it would buy WellCare Health Plans, another of the Tampa Bay area’s largest companies. Like the Tech Data sale, the WellCare deal is expected to close in the first half of next year.
Just last week, Outback Steakhouse’s parent company Bloomin’ Brands announced it was open to a sale, though no suitors have stepped forward publicly.
If the sales go through, the Tech Data and WellCare deals will shake up the list of the Top 10 largest companies in the Tampa Bay area. Here’s how the lists currently look:
Tampa Bay’s largest public companies
By annual revenue*
1. Tech Data (Largo) $37.2 billion
2. Jabil Inc. (St. Petersburg) $22.1 billion
3. WellCare Health Plans (Tampa) $20.4 billion
4. Mosaic Co. (Tampa) $9.6 billion
5. Raymond James Financial (St. Petersburg) $7.27 billion
6. Bloomin’ Brands (Tampa) $4.1 billion
7. Cott Corp. (Tampa) $2.4 billion
8. Masonite International (Tampa) $2.2 billion
9. Sykes Enterprises (Tampa) $1.6 billion
10. Welbilt Inc. (New Port Richey) $1.6 billion
1. WellCare Health Plans $15.47 billion
2. Raymond James Financial $12.16 billion
3. Mosaic Co. $7.63 billion
4. Jabil Inc. $5.95 billion
5. Tech Data $4.6 billion
6. Welbilt $2.55 billion
7. Bloomin’ Brands $2 billion
8. Cott Corp. $1.7 billion
9. Masonite $1.7 billion
10. Sykes Enterprises $1.6 billion
* For 2018 revenues. Eligible companies have their headquarters in Pinellas, Pasco, Hillsborough or Hernando counties. St. Louis-based Centene is in the process of buying WellCare.
** Based on market capitalization — total number of outstanding shares multiplied by the stock price — as of Tuesday.