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Platinum Equity Company Truesense Imaging Announces Company Name as an Independent Operation

Home / News / Platinum Equity Company Truesense Imaging Announces Company

Rochester, NY – Truesense™ Imaging, a leading provider of high-performance image sensors for commercial, industrial, and professional imaging applications, today formally announced its new corporate identity. Formerly the Image Sensor Solutions (ISS) division of Eastman Kodak Company, Truesense Imaging was acquired by Platinum Equity through a transaction with Kodak that closed on November 7, 2011 and Truesense is now operating as an independent company. Truesense Imaging, as part of the Platinum Equity portfolio, will continue to provide the industry's broadest range of image sensor devices that combine the high resolution, ultra-fast frame speeds, and unmatched image quality that customers all over the world depend upon for their most demanding applications."We are extremely pleased to officially announce the launch of our new brand and corporate identity," said Chris McNiffe, Chief Executive Officer of Truesense Imaging and former general manager of Kodak's ISS business. "As an independent company, we now have a great opportunity to expand our leadership position and to grow into new markets and new applications that leverage our core strengths in imaging technology. This is a very positive step forward for our business, our employees and, of course, our customers."Truesense Imaging is headquartered in Rochester, NY. The company-owned facilities in Rochester house all research & development, marketing, and business operations, including a highly specialized image sensor manufacturing operation.About Truesense Imaging, Inc.Truesense Imaging, Inc. is a leading provider of high-performance image sensors serving the machine vision, traffic, surveillance, medical, photography, and scientific imaging applications. With over 35 years experience in the design, development, and manufacturing of high-performance image sensors, Truesense Imaging is uniquely positioned to offer the broadest sensor portfolio with an outstanding combination of resolution, frame rates, and performance, making them ideally suited for the world's most demanding imaging applications. For additional information, please contact Truesense Imaging, Inc. at (585) 784-5500 or info@truesenseimaging.com.

Platinum Equity to Acquire DMS Health Care Technologies

Home / News / Platinum Equity To Acquire Dms Health Care Technologies

Los Angeles, CA – Platinum Equity announced today that it has signed a definitive agreement to acquire DMS Health Technologies from Otter Tail Corporation. Platinum did not disclose terms of the agreement. The transaction is subject to regulatory approval and certain closing conditions.“DMS Health Technologies has a great reputation and we share the company’s commitment to the highest levels of customer service,” said Brian Wall, the partner at Platinum Equity whose team is leading the DMS acquisition. “We look forward to working with the company’s highly-qualified employees, valued customers, and other partners to help DMS achieve its full potential.”DMS Health Technologies provides mobile, interim, and fixed-site diagnostic imaging solutions to hospitals, clinics, and other medical providers, including MRI, CT, PET/CT, nuclear medicine, and digital mammography systems. The company also sells and services Philips Medical diagnostic imaging and monitoring equipment in the upper Midwest region and sells and rents refurbished medical equipment.“Today signifies an important and exciting day in DMS Health Technologies’ future,” said DMS Health Technologies CEO Paul Wilson. “Platinum Equity’s support will allow us to take the next step in our business development. Platinum’s unique approach to providing operational expertise will serve as a competitive advantage and take DMS Health Technologies to the next level.”Mr. Wall said the planned acquisition of DMS is a natural fit for Platinum given the firm’s experience creating divestiture solutions for corporate parent companies. A Platinum operations team has already been deployed to ensure a seamless transition once the transaction closes.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, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 130 acquisitions.

Platinum Equity Completes Sale of 3B

Home / News / Platinum Equity Completes Sale Of 3b

Los Angeles, CA – Platinum Equity announced today it has completed the sale of 3B - The Fibreglass Company ("3B") to Binani Industries Limited. Platinum did not disclose terms of the agreement.Headquartered in Battice, Belgium, 3B is a European leader in the production of fiberglass composite materials and is a preferred supplier to global leaders in the automotive, wind energy, and other industries.Platinum acquired the manufacturing plants, intellectual property, and other assets that would become 3B from Owens Corning in April 2008."We are pleased to complete the sale of 3B to a strategic investor prepared to take the business to the next level," said Brian Wall, the partner at Platinum Equity who oversees an M&A team led by Seth Romans that executed the 3B transaction. "3B's success is a testament to the hard work of its management team and talented employees, as well as Platinum's M&A&O approach to acquiring and driving operational value in businesses. We created a business from a collection of assets and established the company as a leader in its industry."Under Platinum's ownership, 3B brought in new management, developed a brand identity, diversified, and expanded its product offering, penetrated new markets, improved production efficiencies, implemented a new ERP system, and successfully managed through the global economic crisis."We have delivered on the strategy we embarked on three years ago, moving from a collection of assets into a capable and global competitive enterprise. We achieved our financial and operational goals and helped transform the business," said Bryan Kelln, Platinum's president of portfolio operations. "The company is in great shape and well-positioned to continue succeeding under new ownership."With the sale of 3B, Platinum has completed five divestitures in the last four months. Platinum sold Canvas Systems in January 2012, The San Diego Union-Tribune in December 2011, and AEES and Peak Technologies in October 2011.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, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 130 acquisitions.

Platinum Equity Sells Canvas Systems to Avnet

Home / News / Platinum Equity Sells Canvas Systems To Avnet

Los Angeles, CA  – Platinum Equity announced today that it sold Canvas Systems to Avnet, Inc. (NYSE:AVT). Canvas is an independent supplier of IT hardware and services. Terms of the transaction were not disclosed.Platinum acquired controlling interest in Canvas in 2009 from OHC, LLC. OHC retained a minority interest in Canvas under Platinum’s ownership and has also sold its position to Avnet in connection with the transaction announced today.“We are proud of what we accomplished at Canvas over the past three years in collaboration with the company’s management team and hard-working employees,” said Jacob Kotzubei, partner at Platinum who led the team that acquired Canvas. “The company has grown steadily under Platinum’s ownership and is operationally sound with a culture committed to delivering high levels of customer service. Canvas is well positioned to continue thriving under new ownership.”Mr. Kotzubei said the Canvas investment was a natural fit for Platinum, given the firm’s history in the IT equipment and services industry.“We have had a lot of success building and supporting businesses in the IT space,” explained Mr. Kotzubei. “We will continue looking for opportunities to apply our expertise and operations-focused approach.”Platinum currently owns Pomeroy, a provider of 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. Platinum acquired Pomeroy in 2009.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, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 125 acquisitions.

Platinum Equity Company Schutt Sports Becomes First Million-Dollar Corporate Sponsor of Elite Football League of India

Home / News / Platinum Equity Company Schutt Sports Becomes First Million

As reported by The Dallas Morning News, Platinum Equity portfolio company, Schutt Sports, maker of American-style football helmets and face guards, has become the first million-dollar corporate sponsor of the Elite Football League of India (EFLI). The company's president and CEO, Robert Erb, stated, "We're obviously excited about putting the game's best helmets and equipment on the EFLI players, but beyond that, we're in complete agreement with EFLI's vision for the role of football in the country and throughout the region."Schutt Sports has committed to provide 2,000 helmets; 2,300 face guards; 2,000 shoulder pads; and other equipment that will benefit the emerging league. In addition, Schutt has made per-team fiscal commitments for other accessories.The EFLI is India's first professional, American-style football league. The eight new teams, representing all major areas of India—a nation with over 1.2 billion citizens—are currently training for the upcoming inaugural season that kicks off in late 2012.Full Article »

Platinum Equity Acquires Keen Transport

Home / News / Platinum Equity Acquires Keen Transport

Los Angeles, CA – Platinum Equity announced today that it has acquired Keen Transport Company, which includes Keen Transport, Inc. and Cressler Trucking, Inc. Keen Transport is a national provider of heavy-haul logistics and transportation services for the construction, mining, and agriculture equipment markets. Cressler Trucking is a general commodity carrier that provides packaged goods transportation, primarily in the Northeast United States.Bill Keen will remain with the company in his position as CEO. Terms of the transaction were not disclosed."Keen Transport has a rich heritage and a well-deserved reputation for quality service," said Brian Wall, the partner at Platinum Equity who led the team pursuing the acquisition. "We share Bill Keen’s commitment to hard work, honesty, and reliability. We look forward to working with Bill as Keen Transport takes the next step in realizing its full potential."Keen Transport specializes in the movement of large and oversize equipment. The company also provides value-added logistics, light assembly, painting, installation of aftermarket accessories, storage, and managed logistics services at 13 facilities near U.S. ports and co-located with customer production facilities."Partnering with Platinum Equity is very exciting for our organization, our customers, and all of our partners," said Mr. Keen. "Platinum understands our business and supports the integrity upon which this company has been built."Keen Transport was founded by Harold Keen and has been owned by the Keen family for 43 years. Platinum expects to build on the Keen legacy by pursuing growth organically and through prospective add-on acquisitions.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, metals services, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 125 acquisitions.About Keen TransportKeen Transport, based in Carlisle, Penn., is a national provider of heavy-haul logistics and transportation services for the construction, mining and agriculture equipment markets, with facilities in Arkansas, California, Illinois, Georgia, North Carolina, Pennsylvania, Texas, and Washington.  Keen provides diverse field services at mining and construction sites, complemented by machine assembly, teardown, and customization work at each facility.  Keen is committed to maintaining a quality company-owned transportation fleet that allows for greater control over all aspects of the transport process. Keen's experience, specialized capabilities, and professionalism distinguish Keen as an industry leader.   

Platinum Equity Company Ryerson Acquires Turret Steel

Home / News / Platinum Equity Company Ryerson Acquires Turret Steel

Chicago, IL – Ryerson Inc., a leading distributor and processor of metals in North America, announced today that it has acquired Turret Steel Industries, Inc. and Sunbelt-Turret Steel, Inc., steel service centers headquartered in Pittsburgh.The acquisition also includes Turret-affiliated companies Wilcox Steel and Imperial Logistics. Turret and its affiliates generate annual revenues of approximately $130 million. Terms of the transaction were not disclosed."This acquisition represents another important step in Ryerson's effort to continue expanding our product offering in the long products segment," said Ryerson President and CEO, Mike Arnold.Turret Steel President, Wayne Gould, will join the Ryerson team and stay on to manage the acquired businesses."We are excited to join the Ryerson team and combine Ryerson's resources and extensive North American footprint with our deep knowledge and experience in the markets," said Mr. Gould. "This will allow us to continue successfully growing for many years to come."In addition to its Pittsburgh headquarters, Turret has service centers in Chicago and Warren, Ohio. Turret is primarily a distributor of special bar quality (SBQ) carbon and alloy bar stock focused on bar sizes of less than six inches in diameter.Sunbelt has locations in Charlotte, N.C., Cooper, Texas, Dos Palos, Calif., South Windsor, Conn., and Portland, Ore. Sunbelt primarily distributes SBQ carbon and alloy bar products greater than six inches in diameter and also offers significant value-added processing capabilities.Wilcox Steel has a single facility in Green Bay, Wis., that primarily sells cold drawn bar products. Imperial Logistics operates as a sourcing arm for flatbed and inbound trucking for all three companies."These are all strong businesses that will complement Ryerson's existing network and enhance our ability to serve customers," said Matthias Heilmann, Ryerson's Chief Operating Officer.Ryerson has now completed five acquisitions in the last two years, acquiring Houston-based Texas Steel Processing Inc. in January 2010; Mobile, Ala.-based Cutting Edge Metal Processing Inc. in May 2010; Houston-based SFI-Gray Steel Inc. in August 2010; and Streetsboro, Ohio-based Singer Steel in March 2011.Earlier this month Ryerson announced expansions of its Atlanta and Little Rock, Ark. operations with added capabilities in long products and fabricated plate. The company also recently opened new North American service centers in Salt Lake City, Tijuana, Houston, and Eldridge, Iowa, and also added a new service center in Suzhou, China.About Ryerson Inc.Ryerson Inc., a Platinum Equity company, is a leading North American processor and distributor of metals, with operations in the United States and Canada, as well as in China. The company distributes and processes various kinds of metals, including stainless and carbon steel and aluminum products

Platinum Equity Company Schutt Sports Features New Youth Helmet Designs, Provides Education at Pop Warner Super Bowl

Home / News / Platinum Equity Company Schutt Sports Features New Youth

Orlando, FL – Youth football players across the country are receiving NFL-level protection during this week's Pop Warner Super Bowl games at the ESPN Wide World of Sports – thanks to Schutt Sports, the official helmet and reconditioner of Pop Warner Football.The athletes are wearing youth versions of the Schutt AiR XP and DNA Pro+, two of the most popular helmets in the NFL. Featured on the helmets this year is Schutt's all-new, exclusive Aqua Tech Water Graphics, a graphics treatment that gives the helmets a carbon fiber look."These helmets drive the players wild," Glenn Beckmann, Schutt Sports director of marketing communications said. "These are the best-looking helmets the players have ever worn – normally reserved for big-time colleges who want to wear an alternate helmet to boost memorabilia sales."The helmets also feature Schutt's TPU Cushioning, which has been shown to absorb significantly more impact in game-like conditions than traditional foam padding.Schutt executives are on-site at the games in Orlando, Fla., to help re-fit the players' helmets, and also to educate coaches, parents, and athletes about proper fitting techniques and concussion awareness."We've been a partner to Pop Warner for years," Beckmann said, "and it's extremely rewarding to outfit these young stars in our gear and to give back by educating their support systems on best practices regarding helmet wear. Our hope is that this education continues to trickle up as the players enter the collegiate and pro levels."Pop Warner is the most widely recognizable youth football organization in the world and features more than 400,000 players across the country. There are more than 10,000 people attending the games this week, which culminate with the championship games on Saturday.Schutt Sports is the largest maker of football helmets in America, with more than 55 percent market share across youth, collegiate and pro levels.  

Platinum Equity Completes Sale of The San Diego Union-Tribune

Home / News / Platinum Equity Completes Sale Of The San Diego Union

Los Angeles and San Diego, CA – Platinum Equity announced today it has completed the sale of The San Diego Union-Tribune to MLIM LLC, owned by San Diego entrepreneur Doug Manchester.  Terms of the agreement were not disclosed."We are grateful to have been part of the San Diego community and appreciate all the support we received in our time here," said Tom Gores, Platinum Equity Chairman and CEO. "Many people contributed to the transformation of this business and helped the Union-Tribune manage through some really tough times. From employees to readers to community partners, everyone pitched in and played an important role."Platinum acquired The San Diego Union-Tribune from the Copley Press in May 2009. Under Platinum's ownership the Union-Tribune brought in new management, unified and expanded its print and online offerings, modernized its production technology, and reaffirmed its position as the leading local media company in the region."I'm proud to say we did what we set out to do," added Platinum Equity's Louis Samson, whose team led the Union-Tribune acquisition. "Thanks to a lot of hard work by a group of very talented people, the Union-Tribune is a healthy, diversified media business that is well-prepared for the future."Platinum also worked closely with the Union-Tribune to build and strengthen connections with the San Diego community."They never lost sight of the important role the Union-Tribune plays in serving the people that live here," said Jim Nelson, Executive Director of AVID, a college readiness system founded in San Diego that serves largely minority and low-income students. "They forged powerful relationships with several San Diego groups involved with education, journalism, and literacy. The legacy of those relationships will last well beyond their time as owners of the Union-Tribune."Platinum and the Union-Tribune partnered with and are providing financial support to the AVID Center, San Diego State University's School of Journalism & Media Studies, Junior Achievement, the Classroom of the Future Foundation, and KPBS.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, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 125 acquisitions.About MLIM LLCBusinessman, Visionary, Industrialist and Philanthropist Doug Manchester has investments and experience in real estate, publishing, radio broadcast, telecommunication, medical instrumentation, oil and gas and hotel ownership. After completing a career in professional football career, John Lynch went on to work for the Chicago Tribune, and then to grow the Noble Broadcast Group in San Diego from one station to one of the largest private broadcast companies in the nation, ultimately selling it to Clear Channel Communications.About The San Diego Union-TribuneThe San Diego Union-Tribune, LLC, owned by an affiliate of Platinum Equity, is San Diego County’s leading local media company, with products covering 98 percent of all San Diego County households in a given week. The San Diego Union-Tribune and its website, SignOnSanDiego.com, are the leading local sources for news, entertainment, information and classifieds in San Diego County. Together, they reach nearly 1.3 million San Diegans each week. In 2009, The San Diego Union-Tribune won its second Pulitzer Prize, which was awarded to Steve Breen for his editorial cartoons.  The newspaper has a late week circulation of 261,298, with nearly 598,000 daily readers; Sunday circulation is 293,332, with readership of nearly 815,000. The newspaper’s Web site, SignOnSanDiego.com, is the leading local online source for news, entertainment information and classifieds in San Diego, with nearly 27 million page views and nearly 3.54 million unique users in a typical month. Other Union-Tribune products include Enlace, which has the largest distribution of any Spanish-language publication in the County. (The San Diego Union-Tribune circulation, readership and online figures are based on the Audit Bureau of Circulations 2010 annual audit).

Platinum Equity Company Ryerson Announces New Long Products Service Center in Houston

Home / News / Platinum Equity Company Ryerson Announces New Long Products

As reported in the Houston Business Journal, Ryerson, a Platinum Equity portfolio company and Chicago-based metals distributor and processor, is opening a new service center in Northwest Houston. The 50,000 square foot service center will primarily serve oil and gas industry customers.The center will process and distribute products including metal bars and rods used in piping and construction, and will serve as a hub to distribute Ryerson products throughout the Southwest. This new service center marks the fourth location for Ryerson in the Houston area. Two of these four facilities came with the add-on acquisitions of Texas Steel Processing and SFI Gray Steel in 2010.With the recent add-on acquisitions and the new service center, Ryerson expands its capabilities and distribution network. Ryerson is among the leading metals processors and distributors in North America.Full Article »