LOS ANGELES (Dec. 30, 2016)
– Platinum Equity today announced it has completed the acquisition of the Foam
Plastic Solutions (“FPS”) and Flow Control Devices (“FCD”) businesses of
Broadway Industrial Group Limited.
FPS is a leading supplier
of protective packaging, insulation and component products to the consumer
electronics, automotive, medical and other end-markets. FCD supplies high-performance parts such as
valves, fittings, sensors, and related components used in diverse end-applications.
Platinum Equity is a Los
Angeles-based global private equity firm focused on acquiring businesses that
can benefit from the firm’s operational expertise. The acquisition was led by
Platinum Equity’s Singapore office.
Jacob Kotzubei, the partner
in Platinum Equity’s Los Angeles headquarters who oversees the Singapore-based
team, said the investment leverages Platinum Equity’s expertise in corporate
divestitures and strong presence in Asia.
“We have been providing divestiture
solutions to corporate sellers around the world for more than 20 years and know
what it takes to help standalone companies in our portfolio maximize their
potential,” said Mr. Kotzubei. “We have an
experienced team in Asia that can provide hands-on operational support on the
ground while at the same time tapping into our global network of resources.”
Platinum Equity has long had a presence in Asia
through the operations of its portfolio companies, with total employment today
now exceeding 20,000 people across multiple portfolio companies in a range of
“We have an experienced team in Asia that can provide hands-on operational support on the ground while at the same time tapping into our global network of resources,” Platinum Equity Partner Jacob Kotzubei
The acquisition of FPS and
FCD marks the firm’s second acquisition of a business headquartered in Asia. In April 2015 Platinum
Equity acquired Chinese manufacturer Ying Shing Enterprises Limited (“Ying
Shing”), a vertically integrated manufacturing solutions provider for
customized precision-engineered plastic injection molded and metal stamping
Soo Jin Goh, Principal at Platinum Equity and co-head of the firm’s
Singapore-based team, said growing the newly acquired business is a top
“We are working closely with the management
team to ensure a seamless transition and to begin executing on the company’s
long-term strategic growth plan,” said Mr. Goh.
“This acquisition creates a strong platform for expansion, both
organically and through potential add-on acquisitions.”
Founded in 1995 by Tom Gores, Platinum Equity
(www.platinumequity.com) is a global investment firm with more than $6 billion
of assets under management and a portfolio of approximately 30 operating
companies that serve customers around the world. Platinum Equity specializes in
mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and
operating companies in a broad range of business markets, including
manufacturing, distribution, transportation and logistics, equipment rental,
metals services, media and entertainment, technology, telecommunications and
other industries. Over more than 20 years Platinum Equity has completed more
than 185 acquisitions.