Content Type
Mayor Bing Announces Unprecedented Corporate Partnership to Improve Public Safety in Detroit's Neigborhoods
Home / News / Mayor Bing Announces Unprecedented Corporate Partnership To
03/25/2013 – Detroit Mayor Dave Bing announced today that Detroit’s corporate community is supporting his Active and Safe Campaign with an $8 million contribution that will be used to replace the entire fleet of 23 ambulances for the Detroit Fire Department’s Emergency Medical Services (EMS) Division and provide 100 new patrol cars for the Detroit Police Department. Mayor Bing was joined at today’s news conference by Roger Penske, founder and chairman of Penske Corporation, and by other members of contributing corporations and foundations who are working in conjunction with the Downtown Detroit Partnership. Their efforts support the Active and Safe Campaign, which Mayor Bing launched with a goal of raising $60 million to support Detroit’s recreation centers and to provide the latest equipment, technology and training for Detroit’s first responders. Eight corporate donors are giving a total of $8 million to acquire the new public safety vehicles. The donors are: Blue Cross Blue Shield of Michigan; Chrysler Group, LLC; Ford Motor Company; General Motors Company; Quicken Loans, Inc.; The Kresge Foundation; Penske Corporation; and Platinum Equity, LLC. In addition, FirstMerit Bank will serve as the financial partner in this collaborative project. “I am delighted that Detroit’s corporate community has once again stepped up to improve not only public safety, but the lives and well-being of Detroit’s citizens,” Mayor Bing said. “This is an unprecedented collaboration between the business community and the Mayor’s Office to provide the highest level of emergency services to the people of Detroit.”Corporate leaders wanted to show their support for Mayor Bing, the Active and Safe Campaign, and Detroit’s neighborhoods, Penske said. “This is a great day for the City of Detroit. Through the extraordinary efforts of local business leaders and the Downtown Detroit Partnership, we are pleased to help Mayor Bing and the Police and Fire departments bring new police cruisers and EMS units to the streets of Detroit. These vehicles will enhance the visibility of the Police and Fire Departments’ efforts in the city and improve the safety and security of our neighborhoods.”“This generous contribution from Detroit’s corporate leaders is a gift to the residents of Detroit, as well as to our EMS Division,” said Detroit Fire Commissioner Donald Austin. “After years of challenges with aging EMS units that rotate in and out of service, a brand new fleet of ambulances will allow us to provide a higher level of emergency services to Detroit’s citizens.”Detroit Police Chief Chester L. Logan said an additional 100 police cars will greatly enhance the efforts of DPD officers who patrol the city’s streets. “Having access to 100 new vehicles will make our police force more responsive to citizens and will help lift the morale of our officers,” Logan said. “We are grateful to the corporate leaders who made this possible.” Today’s public safety announcement follows the Mayor’s introduction last week of the Detroit One initiative, which brings together local, state and federal law enforcement and the community in an effort to reduce violent gun crimes in the city by 25-percent this year.
Platinum Equity To Sell Contego Healthcare Business
Home / News / Platinum Equity To Sell Contego Healthcare Business
LOS ANGELES, Calif. (March 19, 2013) – Platinum Equity announced today it has signed a definitive agreement to sell Contego Healthcare Limited to FIL International Limited, a subsidiary of Filtrona plc, for cash consideration of approximately £160 million. The change in ownership is expected to occur during the second quarter of 2013. Contego Healthcare, one of Europe’s leading and most technically advanced packaging manufacturers, makes cartons, leaflets, self-adhesive labels, and printed foils for blister packs for the pharmaceutical and healthcare markets. Contego Healthcare has a pan European focus with ten manufacturing sites in the UK, Italy, Germany, France and Ireland. “Over the last two years we achieved our goals by executing on our operations strategy, investing in capital improvements and working closely with a talented management team,” said Platinum Equity Partner and President of Portfolio Operations Bryan Kelln. “Contego’s success is a reflection of the hard work of Contego’s employees, as well as Platinum Equity’s M&A&O® approach to acquiring and driving operational value in our portfolio companies.” Under Platinum Equity ownership, Contego Healthcare built two new factories and made major investments in state-of-the-art printing and folding technology at its ten sites across Europe. “Contego Healthcare is a strong business that is well-positioned to continue thriving under new ownership,” added Mr. Kelln. Platinum Equity acquired the healthcare packaging business and a food and cartons packaging business from South Africa-based Nampak Limited in February 2011. Both businesses were subsequently rebranded under the Contego name. The Contego food and cartons business was sold to Graphic Packaging Holding Company in December 2012. About Platinum Equity Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 145 acquisitions. # # #
BWAY Corporation Completes Acquisition of Ropak
Home / News / Bway Corporation Completes Acquisition Of Ropak
Atlanta, GA – BWAY Corporation ("BWAY" or the "Company"), a Platinum Equity company and leading North American supplier of general line rigid containers, announced today that it has completed the acquisition of Ropak Packaging ("Ropak") from the LINPAC Group.Ropak is a North American producer of rigid, plastic shipping containers serving the consumer goods, food processing, construction, dairy, petroleum, and other industries."Acquiring Ropak is an exciting step in the evolution of our company and creates new opportunities for our customers, employees, and other partners," said Kenneth Roessler, BWAY's President and Chief Executive Officer. "We are now focused on completing a seamless transition and realizing the benefits of bringing the two businesses together."The acquisition of Ropak closed less than three months after Platinum Equity acquired BWAY in November 2012 and launched operational and M&A initiatives to strengthen and grow the company."Our plans to work with the management team and help BWAY grow and attain new levels of success are off to a fast start. The business has momentum and we are excited about the prospects," said Platinum Equity Partner Louis Samson. "We will continue evaluating opportunities to grow and expand the business, both organically and through other potential acquisitions."Latham & Watkins LLP served as legal advisor to BWAY. McKenna Long & Aldridge LLP served as legal advisor and Rothschild Inc. served as financial advisor to LINPAC. The book runners for debt financing were Deutsche Bank, Bank of America Merrill Lynch, and Goldman Sachs.About BWAY CorporationBWAY Corporation is a leading North American supplier of general line rigid containers. The Company operates 22 plants (pre-Ropak acquisition) throughout the United States and Canada serving industry leading customers on a national basis. Cautionary Note Regarding Forward-Looking StatementsThis document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. As you read and consider this document, you should understand that these statements are not guarantees of performance or results. Many factors could affect our actual performance and results and could cause actual results to differ materially from those expressed in the forward-looking statements. Please refer to our filings with the United States Securities and Exchange Commission, for a discussion of other factors that may affect future performance or results. In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this document might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.SOURCE BWAY CorporationBWAY Corporation to Acquire Ropak
Contego Packaging Completes Sale of Food Cartons Business to Graphic Packaging
Home / News / Contego Packaging Completes Sale Of Food Cartons Business To
Contego Packaging Group has finalised details of the sale of its food and beverage Cartons business to Graphic Packaging Holding Company.The acquisition, which has now been approved by the Office of Fair Trading (OFT), was concluded on 24th December 2012.The food and beverage Cartons business in the UK, the Netherlands and Ireland involves Contego Packaging Group’s sites at Leeds, Gillingham, Hoogerheide, and Portlaoise.The ownership and growth strategy of the Healthcare business of the Contego Packaging Group remains unchanged and continues to be expansion through organic and acquisitive growth.Graphic Packaging (NYSE: GPK) is a leading company in the design and manufacturing of packaging with a particular focus on food and beverage packaging. With a turnover of $4 billion, the Group has seven paperboard mills, 44 converting plants, three machinery facilities, and 15,000 employees worldwide. Graphic Packaging has locations in Australia, Brazil, Canada, China, England, France, Germany, Japan, Mexico, Spain, and the US.
NESCO Acquires Utility Equipment Leasing Corporation
Home / News / Nesco Acquires Utility Equipment Leasing Corporation
Fort Wayne, IN — NESCO, LLC ("NESCO") today announced that it has acquired Utility Equipment Leasing Corporation ("UELC") from Utility Equipment Holding Company ("UEHC"), pursuant to a stock purchase agreement."This is an accretive and deleveraging transaction that also further strengthens NESCO's national presence in the utility equipment rental market."NESCO, acquired by Platinum Equity in October 2011, is a leading North American provider of specialty rental equipment for the electric power transmission and distribution industry. UELC provides lease and rental solutions for utility trucks and related equipment, and was founded in 1967 as a sister company of DUECO Inc. ("DUECO"), the largest distributor of Terex Utilities products in the United States.The acquisition of UELC adds over 500 units to NESCO's existing fleet and will expand NESCO's branch footprint into CA and TX. Financial terms of the transaction were not disclosed."Acquiring UELC further broadens NESCO's fleet offering and expands our customer base and ability to service our customers' equipment needs nationwide," said Lee Jacobson, NESCO's Chief Executive Officer. "The acquisition solidifies our position as one of the premier service and equipment providers in the utility and telecommunications rental markets and demonstrates NESCO and Platinum Equity's commitment to strategic consolidation."Louis Samson, the Platinum Equity partner who led the firm's acquisition of NESCO, said today's announcement represents another step forward in Platinum Equity's efforts to support NESCO's overall growth strategy."This is an accretive and deleveraging transaction that also further strengthens NESCO's national presence in the utility equipment rental market," said Mr. Samson. "NESCO and UELC are complementary businesses with compelling synergies and we are excited about the prospect of bringing them together."About NESCOWe are one of the largest North American providers of specialty rental equipment for the electric power transmission and distribution ("T&D") industry serving contractors and utilities that perform critical installation, maintenance, upgrade and repair services on T&D infrastructure. We also provide equipment services to customers in a variety of other end markets including the telecommunications sector. We have one of the most modern and extensive fleets of bucket trucks, digger derricks, line equipment, cranes, pressure diggers and underground equipment in the industry. The breadth of our equipment fleet and broad geographic presence across the United States and Canada positions us to serve as a first call, one-stop provider for our customers. To learn more about NESCO offerings, visit www.nescosales.com or call 1-855-637-2693.About Platinum EquityPlatinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metal services, rental services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 145 acquisitions.About UELCUtility Equipment Leasing Corporation, founded in 1967 offers rental and leasing units ranging from bucket trucks and digger derricks to cable pullers and track vehicles. UELC is a strong business partner to contractors, utilities, municipalities and other industries across the nation. With headquarters in the Greater Milwaukee area, UELC's nationwide network of dealers and service centers are ready to fulfill any utility equipment needs.About DUECODUECO is the largest provider of Terex bucket trucks, digger derricks, and cranes for the utility market in the nation. DUECO also manufactures hybrid utility trucks and custom utility truck bodies and distributes mini derricks, aerial lifts, stringing equipment and trailers. Family owned and operated since 1955, DUECO's philosophy of teamwork, integrity, and open communication with customers and employees ensures high quality equipment at the best value. With headquarters in the Metro Milwaukee area, DUECO services customers 24/7 in fifteen states. To learn more about DUECO and what the company can offer, please call us at 800-558-4004 or visit us on the web at www.dueco.com.ContactsNESCO, LLCBob Smith, 260-824-9519Facsimile: 260-824-8897Investor@nescosales.com
BWAY Corporation to Acquire Ropak
Home / News / Bway Corporation To Acquire Ropak
ATLANTA, Dec. 3, 2012 -- BWAY Corporation ("BWAY" or the "Company"), a Platinum Equity company and leading North American supplier of general line rigid containers, announced today that it has entered into a definitive agreement to acquire Ropak Packaging ("Ropak") from the LINPAC Group in a transaction valued at approximately $265 million. Platinum Equity acquired BWAY in November 2012 and immediately launched operational and M&A initiatives to strengthen and grow the company.Ropak is a North American producer of rigid, plastic shipping containers serving the consumer goods, food processing, construction, dairy, petroleum and other industries."BWAY and Ropak are complementary businesses that make great sense together and will create new opportunities," said Louis Samson, Partner at Platinum Equity. "There are compelling synergies between the two businesses that make this accretive transaction a unique combination. The acquisition is expected to enhance BWAY's earnings power and also serve as a deleveraging event as we integrate the two companies." BWAY and Ropak executives said integrating the businesses would be beneficial for customers of both companies."Ropak is known for innovative products and exceptional customer service," said Kenneth Roessler, BWAY's President and Chief Executive Officer. "Integrating Ropak into our business creates an excellent opportunity to broaden our product portfolio and expand our reach. The transaction is a natural and exciting combination."Mr. Roessler noted that business will continue as usual as all parties work toward a prompt closing of the transaction. "A combination with BWAY represents an exciting opportunity for Ropak and its employees," said Greg Toft, President of Ropak. "The Ropak management team is looking forward to working with BWAY and Platinum Equity to integrate the businesses seamlessly and take the combined business to the next level."Under the terms of the agreement, BWAY will acquire Ropak from LINPAC via a stock purchase. The transaction is subject to customary closing conditions, including the expiration or earlier termination of the Hart-Scott Rodino waiting period.The Company secured underwritten debt commitments from its lenders and the transaction will be financed by increasing the size of the Company's existing term B loan. Pro forma for the anticipated synergies, the transaction is expected to be a deleveraging event for the Company. The bookrunners for debt financing are Deutsche Bank, Bank of America Merrill Lynch and Goldman Sachs. Rothschild Inc. is acting as financial advisor, while McKenna Long & Aldridge LLP is acting as legal advisor to LINPAC. Latham & Watkins LLP is acting as legal advisor to BWAY. About BWAY CorporationBWAY Corporation is a leading North American supplier of general line rigid containers. The Company operates 22 plants throughout the United States and Canada serving industry leading customers on a national basis. Cautionary Note Regarding Forward-Looking StatementsThis document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. As you read and consider this document, you should understand that these statements are not guarantees of performance or results. Many factors could affect our actual performance and results and could cause actual results to differ materially from those expressed in the forward-looking statements. Please refer to our filings with the United States Securities and Exchange Commission, for a discussion of other factors that may affect future performance or results. In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this document might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.BWAY Corporation Completes Acquisition of Ropak
Pomeroy Expands Remote Monitoring and Management Services with Acquisition of BluePoint Data
Home / News / Pomeroy Expands Remote Monitoring And Management Services
Tuck-in acquisition increases Pomeroy's remote monitoring & management, managed cloud services portfolios.Hebron, KY – Pomeroy, a global leader in managed services to optimize IT infrastructure, today announced that it has acquired the assets of BluePoint Data, Inc. Founded in 2000 and headquartered in Boca Raton, FL, BluePoint Data provides a comprehensive menu of cloud-based managed services for networks, servers, storage, security, applications and databases. The acquisition further strengthens Pomeroy's remote monitoring and management (RMM) offering, effectively doubling the size of Pomeroy's portfolio of devices under management. The acquisition will also enable Pomeroy to deliver enhanced managed cloud services for those clients seeking a private cloud platform. BluePoint also provides Pomeroy with a second 24/7 network operations center (NOC) and innovative RMM features.BluePoint Data, Inc.PomeroyPomeroy clients are expected to benefit from several innovative features that Pomeroy will embed within its remote monitoring and cloud offerings. With BluePoint's SkyNOC offering, clients will now have a choice of remote monitoring options, either using Pomeroy's RMM tool or BluePoint's Monitor of Monitors (MoM) platform to leverage investments in their own monitoring and management tools. In conjunction with BluePoint's industry-leading business process monitoring dashboard, SkyView, Pomeroy clients will have real-time visibility into the performance of their IT infrastructures as well as into their enterprise systems, maximizing productivity, protecting corporate data, and reducing infrastructure and support costs."With this acquisition, Pomeroy significantly strengthens its managed cloud and remote monitoring capabilities and broadens the spectrum of managed IT services that deliver value to our clients," said Chris Froman, President and CEO of Pomeroy. "We are excited to bring to market the innovative solutions that BluePoint Data has developed.""We are excited to become a part of Pomeroy," said Paul Sachse, President, CEO and Executive Chairman of BluePoint Data. "Joining forces with a leading organization like Pomeroy will enable us to offer clients and prospects a broader set of proven solutions and capabilities."Pomeroy is a portfolio company of Los Angeles-based private equity firm Platinum Equity. "Acquiring BluePoint Data helps further expand Pomeroy's services platform, with an emphasis on enhanced remote monitoring and management capabilities, as well as strengthens the company's ability to serve its clients," said Jacob Kotzubei, partner, Platinum Equity. "We will continue seeking out new opportunities to support Pomeroy's growth strategy."About Pomeroy Pomeroy provides high quality managed IT infrastructure services, professional and staffing services and procurement and logistics services to Fortune 500 corporations, global outsourcers and the public sector throughout the U.S., Canada and Europe. A recognized leader in the service desk and managed desktop services markets, Pomeroy's ITIL certified professionals employ a process-centric approach to working with clients, either remotely or on-premise, to plan, design, deploy, manage and ultimately optimize each client's IT infrastructure, leading to the creation of tangible business value and return on their IT investments. Learn more at www.pomeroy.com.
Contego Packaging Agrees to the Sale of its European Cartons Business to Graphic Packaging
Home / News / Contego Packaging Agrees To The Sale Of Its European Cartons
Contego Packaging announced today that it has signed a definitive agreement to sell its food and beverage Cartons business to Graphic Packaging Holding Company. The Cartons business includes operations in the UK, the Netherlands and Ireland with sites in Leeds, Gillingham, Hoogerheide, and Portlaiose.The ownership and growth strategy of the Healthcare business of the Contego Packaging Group remains unchanged and continues to remain focused on expansion through organic and acquisitive growth by building on the significant investments that have been made over the past 18 months. During this period, two new factories have been built and major investments made in state-of-the-art printing and folding technology at its ten sites across Europe. "The sale of the Cartons business will allow us to focus even more intensively on growth in the pharmaceutical and healthcare sectors," said Tom Reid, Contego Packaging CEO.The change of ownership of the Cartons business is expected to take place by the end of this year.The Contego Packaging Group, which is owned by Platinum Equity, is one of Europe's leading and most technically advanced packaging manufacturers. The Cartons division produces high quality and innovative packaging for the food and beverage industry from 4 manufacturing facilities. The pan European Healthcare division operates from ten world class manufacturing sites providing cartons, leaflets, self-adhesive labels, and printed foils for blister packs for the pharmaceutical and healthcare markets.Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 140 acquisitions.Other News:Contego Packaging Completes Sale of Food Cartons Business to Graphic Packaging »
Platinum Equity Completes Acquisition of BWAY Parent Company, Inc.
Home / News / Platinum Equity Completes Acquisition Of Bway Parent Company
Atlanta, GA – BWAY Parent Company, Inc., a leading North American supplier of general line rigid containers, announced today it has been acquired by an affiliate of Platinum Equity in a transaction valued at approximately $1.24 billion. The transaction, first announced October 2, 2012, closed today."We are excited about this next step in the evolution of our company as we transition to new ownership," said Kenneth Roessler, BWAY President and Chief Executive Officer. "Platinum provides strong operational capabilities that perfectly fit our strategic focus for the next chapter. Our goals are fully aligned with those of our new partners and we are excited to get to work."Under the terms of the agreement, Platinum Equity acquired BWAY from Madison Dearborn Partners via a merger. Senior executives of BWAY and a significant number of other employees invested in the transaction alongside Platinum."BWAY has a strong management team and dedicated employees. We are excited about their commitment to this transition as it is a clear demonstration of their belief in our ability to work together, create value and help the company realize its full potential," said Platinum Equity Partner Louis Samson.A team of Platinum operations professionals has been deployed to work with BWAY and help ensure a seamless transition. Mr. Samson said that in addition to providing operations support, Platinum Equity's M&A team will continue working closely with BWAY in the capital markets and in pursuing attractive acquisition opportunities should they present themselves."We will work with the management team to evaluate and pursue attractive opportunities to grow and expand the business, both organically and through potential new acquisitions," said Mr. Samson.Goldman, Sachs & Co., Barclays, and Deutsche Bank Securities, Inc. acted as financial advisor to BWAY and Kirkland & Ellis LLP was the company's legal advisor. Latham & Watkins LLP acted as legal advisor to Platinum Equity. The bookrunners for debt financing were Bank of America Merrill Lynch, Deutsche Bank, and Goldman Sachs.About BWAY CorporationBWAY Parent Company, Inc., through its primary operating subsidiary, BWAY Corporation is a leading North American supplier of general line rigid containers. The Company operates 22 plants throughout the United States and Canada serving industry leading customers on a national basis. Cautionary Note Regarding Forward-Looking StatementsThis document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these statements. Forward-looking statements include information concerning our liquidity and our possible or assumed future results of operations, including descriptions of our business strategies. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. As you read and consider this document, you should understand that these statements are not guarantees of performance or results. Many factors could affect our actual performance and results and could cause actual results to differ materially from those expressed in the forward-looking statements. Please refer to our filings with the United States Securities and Exchange Commission, for a discussion of other factors that may affect future performance or results. In light of these risks, uncertainties and assumptions, the forward-looking statements contained in this document might not prove to be accurate and you should not place undue reliance upon them. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.SOURCE BWAY Holding CompanyBWAY Parent Company, Inc. to be Acquired by Platinum Equity
Caterpillar Logistics Services Becomes Neovia
Home / News / Caterpillar Logistics Services Becomes Neovia
Chicago, IL -- November 1, 2012 – The business formerly known as Caterpillar Logistics Services today announced a new name and corporate brand identity, Neovia. Neovia provides third-party logistics solutions to the automotive, industrial, mining, aerospace and defense industries. Platinum Equity, a Los Angeles-based private equity firm, acquired a majority interest in the company from Caterpillar Inc. in July. Caterpillar retained a 35 percent equity stake. “The new name, which translates to ‘a new path,’ and our brand mark expresses our forward-thinking culture as we set off on that path,” said Neovia CEO Jos Opdeweegh. “The new visual identity, in which multiple geometric shapes are brought together in a simple, unified icon symbolizes the agility, flexibility and problem-solving capabilities the people of Neovia bring to our customers.” Mr. Opdeweegh was named CEO in August, has extensive experience in management and logistics in Europe, the Americas, and Asia. “As a world-class provider of value chain solutions, we help our customers face complex challenges every day. Neovia embraces that complexity, and works tirelessly to simplify logistics,” said Mr. Opdeweegh. “We know that success lies in a customer-centered approach. We will endeavor to create value and help our customers’ businesses perform even better.” The company specializes in service parts logistics, and also provides solutions for maintenance, repair and operations (MRO) and manufacturing logistics. “Neovia has a strong management team with a clear and compelling vision for the future,” said Platinum Equity Partner Jacob Kotzubei. “The company has a long tradition of providing outstanding service to customers in multiple industries around the world. Our long-term plan is to help Neovia expand its service offering and further diversify its reach. We are excited about the prospects for the business and are committed to helping it achieve its full potential.” Neovia has a global footprint with approximately 97 facilities and employees in 25 countries. The business was first established by Caterpillar in 1986.About Neovia: Neovia is the global, integrated logistics service provider for companies facing complex logistics challenges. Today, Neovia provides customer-centric supply chain solutions across six continents in key sectors including industrial, automotive, mining, maintenance, repair and operations (MRO), oil and gas, consumer durables, aerospace and defense, high tech and electronics, and health care. Neovia provides end-to-end supply chain solutions with specific expertise in value chain strategy, network design, and execution. The Neovia team creates and employs innovative technology and systems to provide customized services in management of warehouses, operations, inventory, and transportation, as well as inbound manufacturing, reverse logistics, and more. Visit www.neovialogistics.com About Platinum Equity:Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition, and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 140 acquisitions.###
