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Platinum Equity Credit Team Announces Financing to Support Acquisition of Tom Barrow Company

Platinum Equity Credit Team Announces Financing to Support Acquisition of Tom Barrow Company

Home / News / Platinum Equity Credit Team Announces Financing To Support Acquisition Of Tom Barrow Company

LOS ANGELES, July 25, 2023 — Platinum Equity announced today it provided an unsecured term loan to the Tom Barrow Company in connection with Ardian’s recent acquisition of a majority stake in the business. Tom Barrow is a leading supplier of design-assist engineering and manufacturers’ representation services to the commercial HVAC industry across healthcare, life sciences, education, government, industrial and other commercial end markets. Tom Barrow offers a comprehensive range of HVAC product lines, including custom air handling units, packaged equipment, precision cooling equipment, air distribution, fans, sheet metal products and a variety of other specialty applied equipment and commercial components. “We are pleased to have provided Tom Barrow a financing solution in a very complex market for borrowers,” said Platinum Equity Co-President Louis Samson. “We know the business and the sector well and have a lot of experience helping companies grow while navigating changing economic cycles. We believe our operations-intensive model puts us in a unique position to underwrite these types of credit investments.” The Tom Barrow financing is led by Platinum Equity’s dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations. “We are pleased to have provided Tom Barrow a financing solution in a very complex market for borrowers. We know the business and the sector well and have a lot of experience helping companies grow while navigating changing economic cycles. We believe our operations-intensive model puts us in a unique position to underwrite these types of credit investments.” Louis Samson, Co-President, Platinum Equity “We want to forge real partnerships with borrowers where we can add material value to the company’s growth ambitions,” said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. “Tom Barrow Company is a great fit with an attractive financial profile, an experienced and capable management team, and it operates in a market with strong tailwinds.” Founded in 1955 and headquartered in Atlanta, Georgia, Tom Barrow has ten locations across Georgia, Florida, Tennessee and Alabama, with approximately 240 employees. Platinum’s credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America. “Our credit team is actively looking for more opportunities to put our financial and operational expertise to work,” added Mr. Fabiano. Truist Securities, Inc. served as exclusive financial adviser to Tom Barrow. Configure Partners served as financing advisor to Ardian. About Platinum Equity Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 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 the past 28 years Platinum Equity has completed more than 400 acquisitions and debt financings.

Platinum Equity to Acquire Horticultural Container Manufacturer HC Companies

Platinum Equity to Acquire Horticultural Container Manufacturer HC Companies

Home / News / Platinum Equity To Acquire Horticultural Container Manufacturer Hc Companies

LOS ANGELES, July 17, 2023 — Platinum Equity announced today the signing of a definitive agreement to acquire The HC Companies, a leading North American manufacturer of horticultural containers. Financial terms were not disclosed. The transaction is expected to close in the next several weeks, subject to certain closing conditions. Headquartered in Twinsburg, Ohio, HC operates six manufacturing locations and distribution centers in the US and Canada. The company produces a wide range of planters, pots, and accessories for the greenhouse, nursery and retail markets, including fiber and biobased solutions produced with post-consumer and post-industrial materials to meet increasing consumer demand for sustainable solutions. “HC has built an impressive business, with a strong leadership team, dedicated employees and one of the most comprehensive product lines in the industry,” said Platinum Equity Co-President Jacob Kotzubei. “We look forward to working with the leadership team to help the company continue investing in growth while navigating a dynamic market.” The HC Companies President and CEO Bob Mayer will continue leading the business following the transition to new ownership. HC has built an impressive business, with a strong leadership team, dedicated employees and one of the most comprehensive product lines in the industry. We look forward to working with the leadership team to help the company continue investing in growth while navigating a dynamic market. Jacob Kotzubei, Co-President, Platinum Equity "We are excited about this new chapter, which presents an opportunity for HC to redouble our commitment to innovation, expansion and customer service,” said Mayer. “Platinum Equity’s financial resources and operational expertise will be a great asset to our long-term strategic plans.” Mayer and Platinum executives both expect a seamless transition. “We have a lot of experience in manufacturing, supply chain and distribution, and we understand the market very well,” said Platinum Equity Managing Director Nick Fries. “We believe HC is an attractive platform for additional growth, both organically and through new acquisitions in adjacent product categories, segments, channels and geographies.” Platinum Equity’s current portfolio includes Husky Technologies, a producer of injection molding equipment used in the production of some lines of horticulture container solutions. Platinum previously owned Orbit Irrigation, a manufacturer of smart watering technologies and other irrigation and garden products and grower supply goods. The HC acquisition is being led by Platinum Equity’s Small Cap investment team, which is actively deploying capital. In April, the Small Cap team completed the acquisition of a majority stake in Tarter Farm and Ranch Equipment, which manufactures animal gates and fencing solutions, tractor implements, planters and fire rings, and animal feeding and handling equipment for ranchers, large institutional farms and smaller farming enthusiasts. Willkie Farr & Gallagher LLP is serving as legal counsel and Alston & Bird LLP is serving as financing counsel to Platinum Equity on the HC acquisition. Lincoln International is serving as financial advisor to HC on the transaction and Haynes and Boone, LLP is serving as legal counsel.   About Platinum Equity Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 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 the past 28 years Platinum Equity has completed more than 400 acquisitions. About The HC Companies, Inc. The HC Companies is a proud culmination of many legacy brands and continues to transform the horticultural industry through bold leadership, innovative manufacturing, and a comprehensive portfolio of products ideal for greenhouse, nursery,  retail, and commercial markets. Headquartered in Twinsburg, Ohio, with production and distribution facilities throughout North America, HC manufactures growing solutions using the latest technologies and materials to satisfy the challenges of a continuously evolving industry. In addition to their horticultural containers, HC also supports a full line of sustainably sourced solutions including protective packaging, consumer products, growing containers, and more. For information on The HC Companies, visit hc-companies.com (growing containers) or hc-sustainable.com (sustainable products). Media Contacts: Tricia Price HC Companies (216) 513-2309 tprice@hc-companies.com

JELD-WEN

JELD-WEN

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JELD-WEN Australasia Active Asia Pacific Industrials Building Products Corporate Divestiture A leading Australian designer, manufacturer and distributor of windows and doors Company Overview It employs approximately 5,000 people and comprises 41 manufacturing locations across Australia, Malaysia and Indonesia. Its iconic brands include Corinthian®, Stegbar®, A&L®, Trend® and Breezway®, among others. Transaction Description Acquired from JELD-WEN Holding, Inc. in July 2023 Manufacturing Locations 41 Employees 5,000 78 Waterloo Rd, Macquarie Park NSW 2113, Australia A leading Australian designer, manufacturer and distributor of windows and doors Company Overview It employs approximately 5,000 people and comprises 41 manufacturing locations across Australia, Malaysia and Indonesia. Its iconic brands include Corinthian®, Stegbar®, A&L®, Trend® and Breezway®, among others. Manufacturing Locations 41 Transaction Description Acquired from JELD-WEN Holding, Inc. in July 2023 Employees 5,000 78 Waterloo Rd, Macquarie Park NSW 2113, Australia Photo Gallery Previous Next × × × × × Latest Article Platinum Equity to Acquire Horticultural Container Manufacturer HC Companies July 17, 2023 LOS ANGELES, July 17, 2023 — Platinum Equity announced today the signing of a definitive agreement to acquire The HC Companies, a leading North American manufacturer of horticultural containers.Financial terms were not disc...Read More Latest Article Platinum Equity, Solenis executives: Diversey merger creates broader, more global platform July 06, 2023 Announced earlier this year, Solenis has formally acquired Diversey in an all-cash transaction valued at $4.6 billion. Headquartered in Wilmington, Del., Solenis is a global manufacturer of specialty chemicals used in wate...Read More Latest Article Solenis Completes Acquisition of Diversey for $4.6 Billion July 05, 2023 Deal combines two industry leaders in adjacent but highly complementary markets WILMINGTON, Del. (USA) — Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previo...Read More previous Next

Platinum Equity, Solenis executives: Diversey merger creates broader, more global platform

Platinum Equity, Solenis executives: Diversey merger creates broader, more global platform

Home / News / Platinum Equity Solenis Executives Diversey Merger Creates Broader More Global Platform

Announced earlier this year, Solenis has formally acquired Diversey in an all-cash transaction valued at $4.6 billion. Headquartered in Wilmington, Del., Solenis is a global manufacturer of specialty chemicals used in water-intensive industries. Platinum Equity acquired Solenis in 2021. Diversey is a global provider of hygiene, infection prevention and cleaning solutions based in Fort Mill, S.C. Diversey distributes familiar brands like Lysol home cleaner, Dove soap and Suave bath products in the Middle East, Asia Pacific, as well as Turkey and Russia. Solenis CEO John Panichella will lead the combined private company following the transition and integration. “This is a strategic combination of two leading global products, services, and technologies providers with proven track records of product innovation who offer truly differentiated solutions to customers,” Panichella said in a released statement. “In combining these two complementary businesses, we expect to usher in a new and exciting chapter in our long history of helping customers tackle core challenges such as water and energy management, partnering on sustainability issues to work toward a cleaner, safer world, and reducing environmental impacts.” Since the announcement, Platinum Equity executives and top Solenis leaders have provided their thoughts on the merger, which closed in early July. (Questions and answers have been edited for clarity). Q: What is this company’s potential? Platinum Equity Co-President Jacob Kotzubei, who oversees the Solenis investment: It creates an even broader, more global platform, a more diverse platform that adds to the water treatment that we do for municipalities, for industrial companies. It adds hygiene. It’s a company that produces various infection-prevention products. The products are used by businesses and consumers to keep people safe and healthy. Panichella: When we looked at the Diversey acquisition, we were interested in broadening our exposure to two key segments: food and beverage processing and institutional. Let’s use food and beverage, which is a high-growth market. Diversey participates in dairy, beverages and protein processing. We provide the consumer state-of-the-art cleaning chemistry that keeps the food chain safe and then we can clean up the process wastewater so you comply with all state and government regulations on water discharge. Solenis general counsel Royce Warrick: It's an expansion for us. We are companies that bring different solutions and ideas to the table and to customers. To be able to combine what each of us brings to the new company is really exciting, because we're going to be able to expand our toolbox. We want to be that provider for customers where we can hit all issues that customers may have. This is a great opportunity for us to expand our toolbox and to be an even stronger and more dependable partner with our customers. Q: Where does this acquisition place Solenis in the market? Kotzubei: Diversey was an acquisition target that the management team of Solenis had identified as its No. 1 target for many years, even before Platinum acquired Solenis (in 2021). There is one competitor (Ecolab) that’s publicly traded, very well-regarded in the market, trades at very high multiples and has no real competitor. In putting Solenis’ chemicals and services platform together with Diversey’s chemical and services platform, Solenis grows geographically, increases product selection, becomes more similar and competitive to Ecolab. It provides a great opportunity and operational improvement to have a business that's just simply worth more because of the diversity and comprehensiveness of its portfolio. Solenis CFO Philip Patterson: Ecolab is a multinational company. We competed very well against their industrial water solutions business. What we never really had was the disinfectant side of the business that Diversey brings. The combination with Solenis really creates a complete competitor to Ecolab and that's what we really like about this acquisition. It also gives us scale. It always helps to be a bit bigger. We expect to be over $7 billion in top line, $7.1 to be exact in 2023, and that's helpful. Q: How does this fit into the overall M&A strategy with Solenis? Kotzubei: We've always wanted to grow the platform. We've always wanted to diversify the platform and this really represents a hand-in-glove combination that is incredibly complementary and takes two leading businesses, puts them together and creates an opportunity to embrace the customer in a more comprehensive way addressing all of the customer's needs around infection prevention, hygiene and water treatment. Platinum Equity Managing Director Nathan Eldridge (M&A deal lead): This creates a larger, more expansive platform that will enable more opportunities for the company to grow organically and through additional acquisitions in core and adjacent markets going forward. Q: Give us a real-world example of how this deal impacts consumers. Panichella: Take a hotel. The hotel has a pool and spa, which is an opportunity for our pool solutions. The hotel has a kitchen so we can leverage Diversey's chemistry in the kitchen. It has a laundry where our laundry products come into play. It has floor care, and it has a water treatment to heat and cool the building. When you look at the whole portfolio of solutions that Solenis can now offer this hotel, from pool and spa, building care, floor care, kitchen, laundry, it really surrounds that customer with a whole complete offering of solutions from Solenis.

Solenis Completes Acquisition of Diversey for $4.6 Billion

Solenis Completes Acquisition of Diversey for $4.6 Billion

Home / News / Solenis Completes Acquisition Of Diversey For 4 6 Billion

Deal combines two industry leaders in adjacent but highly complementary marketsWILMINGTON, Del. (USA) — Solenis, a leading manufacturer of specialty chemicals used in water-intensive industries, has completed its previously announced acquisition of Diversey Holdings, Ltd., effective July 5, in an all-cash transaction valued at an enterprise value of approximately $4.6 billion. Diversey is a leading provider of hygiene, infection prevention and cleaning products and technology.With the acquisition, Solenis has grown to an enterprise operating in over 130 countries with 71 manufacturing facilities and more than 15,000 employees.Headquartered in Wilmington, Delaware, Solenis was acquired by Platinum Equity in 2021. Bain Capital, the majority shareholder of Diversey, will hold a minority stake in Solenis as a result of this transaction.“This merger makes Solenis a more diversified company with significantly increased scale, broader global reach and the ability to offer a ‘one-stop shop’ suite of solutions that meet customer demand and address water management, cleaning and hygiene issues on a global basis,” said John Panichella, CEO, Solenis. “Together, we have a foundation from which we can continue to leverage our strong customer partnerships, leading-edge innovation and value-added services to propel Solenis’ aggressive growth trajectory. With continued support from Platinum Equity, we are confident that we will maximize the promising opportunities ahead.” This is a transformational opportunity to bring together two innovative companies that have each been developing solutions for many of the world’s most pressing challenges for more than 100 years. By joining forces, they're better positioned to accelerate the pace of progress across a wider range of high-growth end markets. Jacob Kotzubei, Co-President, Platinum Equity Panichella stated that the addition of the Diversey line of cleaning and hygiene products and technologies helps create cross-selling opportunities that will make Solenis an even more valuable partner for its customers. “We now have greatly enhanced capabilities to help our customers tackle critical sustainability challenges, reduce their environmental impact and help create a cleaner, safer world,” he said."This is a transformational opportunity to bring together two innovative companies that have each been developing solutions for many of the world’s most pressing challenges for more than 100 years,” said Platinum Equity Co-President Jacob Kotzubei. “By joining forces, they're better positioned to accelerate the pace of progress across a wider range of high-growth end markets.”“We are excited to create a larger, more expansive platform that will enable Solenis with even more opportunities to grow both organically and through additional acquisitions in core and adjacent markets going forward,” added Platinum Equity Managing Director Nathan Eldridge.AdvisorsBofA Securities, Goldman Sachs and Piper Sandler served as financial advisors to Solenis on the transaction. Gibson, Dunn & Crutcher LLP provided legal counsel and Willkie Farr & Gallagher LLP provided debt financing counsel to Platinum Equity and Solenis. BofA Securities and Goldman Sachs led the debt financing for the acquisition.About SolenisSolenis is a leading global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries, including consumer, industrial, institutional, food and beverage, and pool and spa water markets. Owned by Platinum Equity, the company’s product portfolio includes a broad array of water treatment chemistries, process aids, functional additives, and cleaners and disinfectants, as well as state-of-the-art monitoring and control systems. These technologies are used by customers to improve operational efficiencies, enhance product quality, protect plant assets, minimize environmental impact and create cleaner and safer environments. Headquartered in Wilmington, Delaware, the company has 71 manufacturing facilities strategically located around the globe and employs a team of over 15,000 professionals in 130 countries across six continents. Solenis is a 2023 US Best Managed Company. For additional information about Solenis, please visit www.Solenis.com or follow us on social media.About Platinum EquityFounded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $36 billion of assets under management and a portfolio of approximately 50 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 the past 27 years Platinum Equity has completed more than 350 acquisitions.FOR FURTHER INFORMATION:SolenisCatherine Abernathy+1 904-910-1071cmabernathy@solenis.com

Platinum Equity Acquires JELD-WEN Australasia Windows and Doors Business

Platinum Equity Acquires JELD-WEN Australasia Windows and Doors Business

Home / News / Platinum Equity Acquires Jeld Wen Australasia Windows And Doors Business

LOS ANGELES, July 2, 2023 — Platinum Equity announced today that the acquisition of the JELD-WEN Australasia windows, doors and related building products business from JELD-WEN Holding, Inc. for approximately $461 million has been completed. “We are pleased to have provided a divestiture solution to JELD-WEN as the company continues to streamline and simplify its business,” said Platinum Equity Co-President Louis Samson. “Platinum has decades of experience with corporate carve outs and we expect a seamless transition. We are excited about the prospects for the Australasia business as a standalone company.” JELD-WEN’s Australasia business is a leading Australian designer, manufacturer and distributor of windows and doors. It employs approximately 5,000 people and comprises 41 manufacturing locations across Australia, Malaysia and Indonesia. Its iconic brands include Corinthian®, Stegbar®, A&L®, Trend® and Breezway®, among others. A process is underway to create a new corporate umbrella brand for the standalone enterprise. Scott Kelly, who has been with JELD-WEN in Australia for the past 10 years, will continue leading the business as CEO going forward. “This is an exciting new chapter for our brands and our people,” said Kelly. “We are looking forward to accelerating our innovation program with Platinum Equity and expanding the value we add for our customers and homeowners.” “We are pleased to have provided a divestiture solution to JELD-WEN as the company continues to streamline and simplify its business. Platinum has decades of experience with corporate carve outs and we expect a seamless transition. We are excited about the prospects for the Australasia business as a standalone company.” Louis Samson, Co-President, Platinum Equity Several of the business’s brands are leaders in the production and innovation of double glazed and thermally broken windows and doors, which are important tools for increasing total home energy efficiency. Platinum Equity Managing Director Adam Cooper said those products, in particular, are expected to see strong demand even as the housing market in Australia moves through its current cycle. “New regulations are coming into effect in Australia requiring improved energy performance in homes, and consumers increasingly appreciate the benefits of energy efficient products,” said Cooper. “The business is well positioned to capitalize on those trends and continue investing in innovation, which is good news from both a financial and sustainability standpoint. A growing population, historically stable economic growth, and nationwide demand for additional housing across the country make us confident in the long-term outlook for the business.” Cooper said Platinum Equity’s history in Australia combined with its experience in the building products industry makes it a great partner for JELD-WEN’s Australasia business. “We have been investing in Australia for nearly a decade, we know the market and are committed to putting our financial and operational resources to work in the region,” added Cooper. Platinum Equity’s current portfolio includes Winc, an office products provider formed through a combination of Staples and OfficeMax assets Platinum Equity acquired in Australia and New Zealand. Platinum Equity previously owned Sensis, an Australian directories business the firm acquired from Telstra. In the building products space, the firm’s current portfolio includes Cabinetworks, the largest independently owned manufacturer and distributor of kitchen and bath cabinets in the United States, and PGS, a provider of hard surface floor coverings. Previous building products investments include: Interior Logic Group, a provider of interior design and finish solutions for the homebuilding industry; PrimeSource, a national distributor of specialty building materials; and Nilco, a wholesale distributor of specialty building materials and industrial products. Gresham Advisory Partners served as financial adviser to Platinum Equity, and Allens served as Platinum Equity’s legal counsel. Macquarie Capital served as financial adviser to JELD-WEN and Herbert Smith Freehills served as legal counsel. About Platinum Equity Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 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 the past 27 years Platinum Equity has completed more than 400 acquisitions. About the JELD-WEN Australasia Business With some of the most iconic brands in the Australasian and global building industry, we are proud to have provided products and services to projects around the globe for residential, multi-residential, and commercial markets. Whether it is windows, doors, architectural glass, showers, wardrobes or other building products, our brands are committed to creating a safe and sustainable environment for customers, our team, and local communities. Over many decades our brands, including Stegbar, Corinthian Doors, A&L Windows, Trend Windows, Aneeta Windows, Breezway, Regency, and William Russell Doors, along with our architectural glass facilities have been at the forefront of innovation, delivering the latest in technology and design to homeowners across Australia and around the globe.

How Club Car is assisting Georgia-based charities through annual sponsorship of Korn Ferry Tour event

How Club Car is assisting Georgia-based charities through annual sponsorship of Korn Ferry Tour event

Home / News / How Club Car Is Assisting Georgia Based Charities Through Annual Sponsorship Of Korn Ferry Tour Event

At 32, Ironman triathlete Molly Barker’s struggles with alcohol abuse and addiction inspired her to start a Charlotte, N.C.-based program to help young girls navigate life experiences. Since then, Girls on the Run has grown into a national program impacting more than two million girls. Girls on the Run Coastal Georgia is one of Club Car’s charitable partners benefiting from the golf cart and utility vehicle manufacturer’s annual sponsorship of a Korn Ferry Tour event in Savannah, Ga. The annual Club Car Championship at The Landings Golf & Athletic Club in March raised more than $400,000 in donations for Girls on the Run and other Savannah-based charitable organizations.  “At the core of the Club Car Championship at The Landings Golf & Athletic Club is raising funds to make a lasting positive impact in the greater Savannah community and beyond,” tournament director Cheyenne Overby said in a news release.  Club Car has been sponsoring the championship for three years in partnership with Korn Ferry through the PGA Tour. The 2023 amount is the largest single-season donation in the history of the Korn Ferry event.    Girls on the Run uses a team setting with volunteers and coaches to build participants’ social and emotional skills. The program also uses running and other physical activities with life development skills to enable girls to develop confidence. Other benefiting charities of the Club Car Championship include: Savannah CASA, EmployAbility GA, First Tee Savannah, Folds of Honor, America’s Second Harvest of Coastal Georgia, Landings Land Lovers, Park Place Outreach and The Landings Military Family Relief Fund.   Club Car was acquired by Platinum Equity in 2021. Founded in 1958, the Club Car product portfolio has grown to include much more than golf cars, now encompassing vehicles for commercial and consumer markets. Club Car is committed to electrification and sustainability initiatives and is at the forefront of zero emission vehicle technologies. 

TruckPro’s charitable giving program raises $125,000 for St. Jude’s Research Hospital, other charities

TruckPro’s charitable giving program raises $125,000 for St. Jude’s Research Hospital, other charities

Home / News / Truck Pros Charitable Giving Program Raises 125000 For St Judes Research Hospital Other Charities

TruckPro announced a donation of $125,000 to charities that support veterans, children’s cancerresearch and underserved communities during its annual sales summit in March.The beneficiaries of the TruckPro Gives Back program were the Wounded Warrior Project and The War Amps ($55,000combined), St. Jude Children’s Research Hospital ($40,000), and the Salvation Army in the U.S. and Canada ($30,000). The company’s annual giving program is voluntary, and it gives associates and suppliers a framework to support these groups.“These organizations have demonstrated a significant impact in their respective areas of focus and align closely with our commitment to making a positive difference in the lives of those in need,” TruckPro CEO Chuck Broadus said in a release. “Through a rigorous evaluation process, these groups have demonstrated outstanding dedication, effectiveness and sustainability in addressing critical social issues."TruckPro’s charitable giving initiative began in July 2017, and reflects employees’ diverse interests, passions and personal causes that extend beyond professional lives. The company aims to foster a culture of giving and serving. This includes team-building activities at every annual sales summit that directly benefits a partner charity, helping veterans and their families, volunteering to participate in community-based events, and participating in the Salvation Army Angel Tree Program where associates donate gifts and special-needs items to underprivileged children to ensure joyful and memorable holiday seasons.Plans for the TruckPro Gives Back program include building on current successes and deepening charitable giving initiatives.“Moving forward, we are committed to continuously challenging ourselves to find innovative ways to engage our associates, customers and vendors in supporting our charitable programs,” Broadus said. “The TruckPro Gives Back program has already made a significant impact and by nurturing our charitable platform and harnessing the terrific momentum we have generated.”Founded in 1958 and based in Cordova, Tenn., TruckPro is a distributor of heavy-duty truck and trailer products and advanced repair services. Through a distribution network of more than 150 stores and advanced service shops, the company delivers a comprehensive range of more than 130,000 products in the U.S. and Canada to support commercial and government customer requirements in the areas of brake systems, electrical, engines and more.Platinum Equity acquired TruckPro in October 2019.

LRG, a Mad Engine brand division, launches its first sustainable capsule to honor Earth Day

LRG, a Mad Engine brand division, launches its first sustainable capsule to honor Earth Day

Home / News / Lrg A Mad Engine Brand Division Launches Its First Sustainable Capsule To Honor Earth Day

LRG, a brand division of Mad Engine, launched its first sustainable capsule in April to honor Earth Day 2023. In the fashion industry, a capsule is a limited-edition apparel collection that correlates with an important moment or event. LRG's Earth Day capsule utilizes organic cotton and recycled materials. The initiative is part of Mad Engine’s MadSustainable program that was launched in 2019. “We continue to improve our efforts to be a more sustainable organization and a leading example in the apparel and fashion industry,” Mad Engine president and CEO Faizan Bakali said in a release announcing the capsule. The Earth Day capsule is comprised of two designs inspired by historical LRG graphics and it is available to consumers in the U.S. According to Mad Engine executive Travis Mastdorf, the program has gotten off to a promising start. LRG’s next capsule will launch in September in collaboration with One Tree Planted, an environmental conservation and restoration non-profit that says it planted more than 92.7 million trees in more than 80 countries worldwide since 2014. Of those trees, 52.7 million were planted in 2022 alone. MadSustainable is just one example of the company’s environmental stewardship. These efforts include providing one million masks during the pandemic; the installation of solar power at the company’s offices in San Diego and Chico, Calif.; initiating the company’s Take Back Program that allows customers to return any unwanted LRG products to reduce waste at landfills; and working to recycle plastic film, converting it into decking or other outdoor furniture materials. Mad Engine’s San Diego facility earned its Green Business Certification through the California Green Business Network in September 2022. Founded in 1987 and acquired by Platinum Equity in 2020, Mad Engine is a global wholesaler of licensed, branded, and private label apparel and accessories.

Solenis’ newest European facility shows company’s commitment to R&D

Solenis’ newest European facility shows company’s commitment to R&D

Home / News / Solenis Newest European Facility Shows Companys Commitment To Rd

MÖNCHENGLADBACH, Germany – On a sunny day in west Germany, Solenis officially welcomed its newest research and development facility with a ribbon-cutting ceremony. Witnessed by a cheerful audience of C-suite executives, employees and local government officials, Solenis CEO John Panichella and Chief Sustainability Officer Lotta Kanto Öqvist did the honors in officially christening the $5 million investment from the global manufacturer of specialty chemicals that help produce products like paper towels, toilet tissue, food containers and other items. “My message is pretty simple, and it's really to thank the people who work here,” Panichella said on the first floor. “The technicians, the scientists, you are so critical to the growth we're trying to create in this company because our customers need you. They need your minds to help us create new solutions, and create new chemistries so really this laboratory hopefully gives you a great place to work so you can come up with great ideas to help our customers.” Located about 20 miles from downtown Düsseldorf, the new facility will help drive more sustainable solutions for water-intensive industries and consumer paper-packaging. The labs are equipped with state-of-the-art, instrument-based capabilities for water analysis, microbiology, wastewater treatment, compound analysis, deposit identification, product determination and more. Scientists and R&D teams can also conduct problem-solving sessions with customers visiting the facility. The facility also supports Solenis’ company-wide sustainability initiatives as laid out by UN Sustainable Development Goals, which include clean water and sanitation and responsible consumption and production. Solenis will also accelerate its investment in R&D in 2024 with the $40 million expansion and relocation of its center near global headquarters in the Philadelphia area. Mönchengladbach and the new U.S. location join fairly new facilities in China and Brazil. “There is a strong focus on R&D and customer support at Solenis,” Öqvist said. “This goes hand in hand with what we have done all around the world. We have very good facilities in Shanghai and in Paulinia (Brazil). Next year we're focusing on moving the whole research center in Wilmington (Del.) to new facilities. You can see the importance of future programs and support for our customers. We are a preferred partner for our customers and we invest in developments for a future, more sustainable world and products together with them.” Solenis, which was acquired by Platinum Equity for $5.25 billion in 2021, simply outgrew its facility in a neighboring city.  Workers and scientists were scattered throughout different buildings and the need for a building to house more than 40 employees to improve collaboration and communication was sought. With the assistance of the local government, a location was discovered in Mönchengladbach, a city of 260,000 located directly west of Düsseldorf. Solenis is a global company with more than 6,500 employees and is active in 130 countries across six continents. “The German economy is very based on small and medium enterprises so Solenis is a big player,” Mönchengladbach mayor Felix Heinrichs said. “We are here in the region of structural change. We have the coal phase out and we try to add new industries, a new way of energy solutions. Solenis is a partner for structural change and for new development right here in Monchengladbach.” The building is four stories, 33,370 square feet and took approximately a year to build. It’s an expansive facility that houses scientific experts in chemical engineering and biological engineering. There is room to add another 15 employees. “It's really a commitment from Solenis, and we see this as a big investment into technology,” said senior group leader Christian Flocken, who oversees the facility. “This is an experience that we are very proud of. We really are proud of working for Solenis.”