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Platinum Equity to Sell The San Diego Union-Tribune to Doug Manchester

Home / News / Platinum Equity To Sell The San Diego Union Tribune To Doug Manchester

Los Angeles and San Diego, CA – Platinum Equity announced today it has signed a definitive agreement to sell The San Diego Union-Tribune (“Union-Tribune” or “U-T”) to MLIM LLC, owned by San Diego entrepreneur, Doug Manchester. San Diego media executive John Lynch serves as President and CEO of MLIM.Terms of the agreement were not disclosed. The transaction is expected to close no later than December 15.  No further comment will be provided until the ownership transfer is complete."We are very proud of what we have accomplished in San Diego and are grateful to the community for embracing our stewardship of the Union-Tribune," said Platinum Equity's Louis Samson, whose team led the Union-Tribune acquisition in 2009. "We came here at a difficult time for the newspaper industry and helped the Union-Tribune successfully transform its operations and re-invent itself by attracting terrific people and investing in their ideas and their passion.”“This is an honor and a privilege for John Lynch and the Manchester family. We have strong roots in the San Diego community and we are pleased to bring our local perspective and passion for this region to the Union-Tribune,” said Mr. Manchester. “Taking ownership of a 143-year-old Pulitzer Prize-winning news organization comes with great responsibility. We believe San Diego is the finest city in America and pledge to be strong advocates for the city’s interests and conscientious caretakers of the Union-Tribune and its legacy.”Mr. Manchester added that his team plans to build on the U-T’s recent success.“We look forward to building on the foundation that has been established by current management and ownership, serving the community and working towards a fully integrated digital and print news media platform,” said Mr. Manchester.The sale is the culmination of a series of operational initiatives executed under Platinum’s ownership that have helped transform the Union-Tribune from a struggling traditional newspaper publisher into a modern and innovative multimedia platform.“We assembled a talented management team, unified and expanded the U-T’s print and online offerings, modernized its production technology, and cemented its position as the leading local media company in the region,” added Mr. Samson.  “Most importantly, we engaged the community and the Union-Tribune is a stronger, more vital enterprise today thanks to its connection with the people of San Diego.”Platinum acquired The San Diego Union-Tribune from the Copley Press in May 2009 and quickly installed new management, including industry veteran Ed Moss as publisher and president, and Jeff Light, an experienced editor with a background in multimedia and interactive, as editor.  A Platinum operations team also worked inside the business to support the early transition to new ownership and drive many of the longer-term transformation initiatives.In August 2009, the Union-Tribune launched a new advertising offering that allowed micro-zoning for small business advertisers at lower, localized rates and an editorial effort to drive more local news coverage to targeted communities in San Diego. That effort was followed by the introduction of multiple new products targeted at specific categories to provide maximum response for local businesses.In December 2009, a new pagination system was installed to significantly streamline the newspaper’s production process. In April 2010, the Union-Tribune launched its Daily Deal program as part of an effort to diversify its revenue base beyond traditional advertising and other sources. In August 2010, the Union-Tribune completed a total re-design of the newspaper and its online property signonsandiego.com.In November 2010, the Union-Tribune launched an unprecedented company-wide initiative with its Union-Tribune Holiday Food Drive. To continue its community outreach efforts, in September 2011, the company kicked off its Union-Tribune Volunteer for Education Campaign.In April 2011, the Union-Tribune acquired the online lifestyle property DiscoverSD.com, providing expanded reach with a younger demographic and strengthening the Daily Deal program. Earlier this month, the company announced the launch of Vida Latina San Diego, an entertainment magazine offering Spanish-language content to consumers and an additional channel for advertisers to reach the Hispanic demographic.As a consequence of these and other efforts, the Union-Tribune has expanded its readership, improved its financial performance and is providing new and improved content for readers with more options for advertisers.“We look forward to utilizing our ties to the community and local strength to expand upon the innovative methods already in place at the Union Tribune, strengthening the organization’s mission to be San Diego’s media provider of choice,” said Mr. Manchester.Both Mr. Manchester and Mr. Lynch have been active proponents and supporters of numerous San Diego charities. A lifelong San Diego resident, Mr. Manchester has been particularly committed to the community and will now bring his local ties to The San Diego Union-Tribune.Platinum Equity is being advised by Evercore Partners on the sale of the Union-Tribune and MLIM is being advised by Roth Capital Partners.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 Salt Lake City Service Center Opening

Home / News / Platinum Equity Company Ryerson Announces New Salt Lake City

Chicago, -- Ryerson Inc., a leading processor and distributor of metals in North America and Asia, recently celebrated the grand opening of their newest service center located in Salt Lake City, Utah.The new 54,000-square-foot facility is centrally located in the heart of the Salt Lake City business district. The facility houses a large offering of long products and serves as the hub for these products for Ryerson branches in the Western United States. In addition to the extensive inventory of long products, the facility also stocks a wide array of other product shapes in carbon, aluminum, and stainless steel. The processing capabilities include new state-of-the-art equipment for bar cutting, aluminum plate sawing, and sheet sheering.This event marks the second opening of a new location for Ryerson in the Salt Lake City market in the last two years. In April 2009, Ryerson opened a 40,000-square-foot plate processing facility in Clearfield, Utah."Our newest location allows us to better meet the needs of our customers in and around the Salt Lake City metropolitan area. We will be offering "same-day delivery" and "same-day will call" to allow our customers greater access to one of the largest inventories of long products in the Western United States, while our Clearfield facility will continue to house our plate and plate processing capabilities, including our High-Def Plasma," said Roger Cundick, General Manager for both Salt Lake City facilities. "Ryerson is committed to Utah and the surrounding markets and we will continue to expand with our customers' needs."About RyersonRyerson Inc., a Platinum Equity company, is a leading distributor and processor of metals in North America and Asia. The Company services customers through a network of service centers across the United States, Canada, Mexico, and China.

“Seats for Soldiers” Free Ticket Offer Continues

Home / News / Seats For Soldiers Free Ticket Offer Continues

As reported in The Oakland Press, Palace Sports & Entertainment (PS&E), a Platinum Equity portfolio company, is continuing its support for the United States Armed Forces with its "Seats for Soldiers" free ticket offer. This offer applies to all military members and veterans, including their families.The initial summer 2011 "Seats for Soldiers" offer was well received, with tickets given away during the summer concert series at DTE Energy Music Theatre, a venue owned and operated by PS&E. PS&E is extending the offer to include events at The Palace, home of the Detroit Pistons and numerous major concert and cultural events throughout the year.Service members' appreciation and positive response drove PS&E to extend the offer through the end of 2011 and into 2012, which was announced on Veterans Day.Full Article »

Kodak Sells Image Sensor Business to Platinum Equity

Home / News / Kodak Sells Image Sensor Business To Platinum Equity

Rochester, NY – Eastman Kodak Company (NYSE:EK) announced today that it has completed the sale of its Image Sensor Solutions (ISS) business to Platinum Equity in a move that will sharpen Kodak’s operational focus and strengthen its financial position.While the financial details were not disclosed, Kodak will have continuing access to the image sensor technology involved in this transaction for use in its own products. Kodak has previously communicated that it would sell assets that are not central to its transformation to a profitable, sustainable digital company. This sale is aligned with that strategy to generate cash to complete the transformation.Included in the sale is a 263,000 square foot facility in Eastman Business Park in Rochester, NY, that houses manufacturing and research facilities.The ISS business develops, manufactures, and markets the world’s highest performance solid state image sensor devices. Over the past 30 years, Kodak’s image sensors have delivered unrivaled image quality and innovative features for use in a broad range of demanding imaging applications. From precision manufacturing inspection to digital radiography, from earth imaging satellites to traffic monitoring, from the world’s highest performing studio photography cameras to DNA sequencing systems, customers around the world rely on high-performance products from ISS in the most mission-critical applications.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.“Image Sensor Solutions is a business that is well-positioned in the high-performance imaging markets in which it participates,” said Pradeep Jotwani, President, Consumer Digital Imaging Group, and Senior Vice President, Eastman Kodak Company. “This sale maximizes shareholder value by obtaining a full and fair valuation for this business, and allows Kodak to increase its financial flexibility.”Jotwani noted that Platinum Equity brings significant financial and operational resources to the ISS business and a comprehensive plan to ensure its continued success.“Platinum Equity is an ideal acquirer of Kodak’s ISS business because they are committed to the success of the business for the benefit of customers and employees,” Jotwani said. “I’m very pleased that we have such a favorable outcome for all of our constituents.”Platinum Equity focuses on acquiring businesses that can benefit from the firm’s extensive in-house capability and expertise in transition, integration and operations.“This is a great opportunity to acquire a business with an impressive record for delivering innovative solutions to customers around the world,” said Brian Wall, the partner at Platinum Equity who led the team pursuing the acquisition. “The ISS business has a strong management team with the right vision for leading the company into the future. We share their commitment to product development and customer service and are committed to helping the business realize its full potential.”Wall said Platinum Equity’s experience managing complex transitions from corporate parent companies will benefit employees, customers, and other partners.“Our operations group will work hand-in-hand with the management team to ensure a seamless transition while allowing the organization to stay focused on delivering world class imaging products and solutions,” said Wall. “We are proud to have forged a unique divestiture solution in partnership with Kodak that serves the best interests of everyone involved.”About Kodak As the world's foremost imaging innovator, Kodak helps consumers, businesses, and creative professionals unleash the power of pictures and printing to enrich their lives.To learn more, visit www.kodak.com and follow our blogs and more at www.kodak.com/go/followus.More than 75 million people worldwide manage, share, and create photo gifts online at KODAK Gallery -- join today at www.kodakgallery.com.Choose from the widest selection of Kodak digital cameras, all-in-one inkjet printers, pocket video cameras, and more at http://store.kodak.com.

Platinum Equity Acquires NESCO

Home / News / Platinum Equity Acquires Nesco

Los Angeles, CA and New York, NY – Platinum Equity and Hammond, Kennedy, Whitney & Company, Inc. ("HKW") jointly announced today that Platinum Equity has acquired NESCO from an investor group led by HKW. NESCO founder and CEO, Rob Troxel, will retain an ownership stake in the business going forward. Terms of the transaction were not disclosed.Based in Bluffton, IN, NESCO is a leading provider of fleet equipment rental, sales and services for the North American electrical transmission and distribution market. NESCO maintains one of the largest utility equipment fleets in North America and services a broad customer base across a national footprint of 32 locations throughout the United States. "NESCO has one of the most comprehensive fleets in the industry, a strong national network and a true commitment to customer service," said Platinum Equity's Louis Samson, who led the team pursuing the NESCO acquisition.  "We look forward to partnering with NESCO'S management team and talented employees to help the company achieve new levels of success."NESCO'S specialized fleet serves a variety of critical electrical transmission and distribution infrastructures and projects.  In addition to the company's core rental business, NESCO also serves as a dealer for new and used equipment."NESCO is a premier company and a leader in its segment," said Glenn Scolnik, HKW's current and NESCO'S former Chairman of the Board. "We are proud of what we have accomplished with the NESCO team  it's a tremendous organization with a strong culture.  Platinum brings additional resources that can help NESCO evolve and continue growing to better serve its customers. It is a win-win for everyone.""Partnering with Platinum Equity is very exciting for our organization, our customers and all of our partners," said Mr. Troxel. "Platinum understands our business, and their culture and experience in the equipment rental market make them a great fit for NESCO.""Platinum will provide us with the financial wherewithal and the operational support we need to continue on our growth trajectory," added NESCO President, Brad Todd.A team of Platinum operations professionals has been deployed to 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 NESCO to identify acquisition opportunities."NESCO has a proven track record at executing and integrating acquisitions and we will work with the management team to identify, evaluate and pursue attractive opportunities to grow and expand the business, both organically and through additional acquisitions," said Mr. Samson.Harris Williams & Co. acted as the exclusive financial advisor to NESCO.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 HKWHKW is a private equity firm founded in New York in 1903 with current offices in New York and Indianapolis.  Over the past 28 years, HKW has sponsored 39 platform management buyouts of small middle-market companies throughout North America as well as 39 add-on acquisitions.  For further information about HKW and its portfolio companies, investment strategy, and team, please visit www.hkwinc.com.About NESCO Sales and RentalsNESCO Sales & Rentals has over 1,500 new & used bucket trucks, digger derricks, truck cranes, pressure diggers, aerial platforms, sign trucks, pullers, tensioners, reel trailers, pole trailers, underground equipment, cable rodders, cable pullers, mini diggers, service trucks, utility trucks, augers and more. We are an authorized distributor for: Elliott Equipment, Manitex Cranes, Mantis Cranes, National Crane, Hogg & Davis, OK Champion, Bay Shore Systems, Condux, SDP Manufacturing, Morooka, Posi Plus, Skylift, Fairmont, Arnco and Samson Rope. The NESCO Difference includes:Equipment locations throughout the United States and CanadaNationwide service and repair networkAn extensive selection of late model unitsImmediate equipment availabilityFully inspected and tested for safety and reliabilityFlexible equipment rental, leasing and purchase optionsView NESCO's full inventory at www.nescosales.com.

KEMET Announces Election of Jacob Kotzubei to KEMET Board of Directors

Home / News / Kemet Announces Election Of Jacob Kotzubei To Kemet Board Of

Greenville, SC,-- KEMET Corporation (NYSE: KEM) (the "Company"), a leading manufacturer of tantalum, ceramic, aluminum, film, paper, and electrolytic capacitors, announced today that Jacob Kotzubei has been elected to the Company's Board of Directors. On October 25, 2011, the Company's Board of Directors increased the size of the Board to nine members and elected Mr. Kotzubei to fill the resulting vacancy, placing him in the Board of Directors' Class of 2013.Mr. Kotzubei joined Platinum Equity, LLC ("Platinum Equity") in 2002 and is a Partner at the firm. Mr. Kotzubei serves as an officer and/or director of a number of Platinum Equity's portfolio companies. Prior to joining Platinum Equity in 2002, Mr. Kotzubei worked for 4 1/2 years for Goldman Sachs' Investment Banking Division in New York City. Previously, he was an attorney at Sullivan & Cromwell LLP in New York City, specializing in mergers and acquisitions. Mr. Kotzubei received a Bachelor's degree from Wesleyan University and holds a Juris Doctor from Columbia University School of Law where he was elected a member of the Columbia Law Review.Per Loof, KEMET Corporation's Chief Executive Officer, stated, "We are delighted to welcome Jacob to our Board of Directors. We believe that Jacob's expertise in mergers and acquisitions and his extensive experience in management oversight, private equity and capital markets will provide significant benefits to our Board and to our shareholders as we continue to focus on profitable growth.""I am honored to join the Board of Directors of KEMET, a leading company that plays a critical role in the electronics supply chain. Platinum Equity has been an investor in the company and a supporter of its management team for nearly two and a half years and we are delighted to continue this relationship through participation via the Board," said Jacob Kotzubei, partner, Platinum Equity.About KEMETKEMET's common stock is listed on the NYSE under the symbol "KEM." At the Investor Relations section of our web site at www.KEMET.com/IR, users may subscribe to KEMET news releases and find additional information about our Company. KEMET applies world class service and quality to deliver industry leading, high performance capacitance solutions to its customers around the world and offers the world's most complete line of surface mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics.

QuarkXPress 9 from Platinum Equity Company Quark Named Publishing Product of the Year by <i>MacUser</i>

Home / News / Quarkxpress 9 From Platinum Equity Company Quark Named

Platinum Equity portfolio company, Quark, announced today that QuarkXPress® 9.1 with App StudioTM has won the MacUser Award for Publishing Product of the Year. The annual MacUser Awards recognize the best products released each year for Apple users. In this year's publishing category QuarkXPress beat out Adobe Dreamweaver CS5.5, Adobe InDesign CS5.5 and Digital Publishing Suite, Aquafadas Digital Publishing Suite, Mag+, Nuance PDF Converter Professional 7, RapidWeaver 5, and Sandvox 2.Adam Banks, Editor of MacUser said, "The arrival of the iPad and other tablets has rapidly changed the way we think about publishing. By offering practical, affordable digital edition tools integrated with a familiar page layout system, Quark has shown it understands what publishers of all shapes and sizes need to meet the challenge. We're delighted to name QuarkXPress 9.1 with App Studio our Publishing Product of the Year.""Being named publishing product of the year is a huge win for QuarkXPress 9 and App Studio. Thank you to the MacUser editors who nominated QuarkXPress and the thousands of fans who voted us top of the category," said Gavin Drake, Vice President of Marketing for Quark. "The designer is at the core of our work to develop software that enables digital publishing. We are proud to help break down publishing barriers for creative professionals around the world both in traditional publishing and agencies, as well as for large enterprises that face similar challenges to communicate on digital devices."QuarkXPress 9.1 is the new version of QuarkXPress that, with App Studio, opens the door for designers to create and publish iPad apps, and to publish engaging, interactive, and innovative content to those apps. QuarkXPress 9 also helps designers reach smartphones, tablets, and digital devices that support ePUB, such as the Amazon Kindle, Barnes &amp; Noble Nook, and Apple iBooks. In addition to advanced digital publishing functionality, QuarkXPress 9 includes a host of new features that help designers work more productively by automating time-consuming design tasks.About QuarkQuark Software Inc. (www.quark.com) is a leading provider of publishing software for professional designers, small and mid-sized businesses, and large organizations in more than 160 countries. Two decades ago, our flagship product — QuarkXPress® — changed the course of traditional publishing. For more than 25 years, Quark has built on its knowledge and experience in design and publishing to provide software solutions that support collaborative workflows and automated publishing across multiple channels. Today, Quark is revolutionizing publishing again by setting new standards in XML-based publishing across print, the Web, and digital media as well as by helping owners and employees of small and mid-sized businesses promote their products and services easily, professionally, and affordably. Denver-based Quark Software Inc. is privately held.

Platinum Equity Company Keystone Automotive Operations Acquires NTP Distribution

Home / News / Platinum Equity Company Keystone Automotive Operations

Exeter, PA – Keystone Automotive Operations, Inc., the leader in distributing specialty automotive components and accessories, in coordination with its majority shareholders Platinum Equity, announced today that it has acquired NTP Distribution Inc. (NTP) is a privately held provider of quality aftermarket products, parts, and accessories for dealers in the recreational vehicle (RV) and towing industries."This is a terrific example of how Keystone can leverage its strong logistics and distribution capabilities to offer dealers in the RV and hitching and towing industries our unique value proposition," said Ed Orzetti, President and CEO of Keystone Automotive. "This acquisition rapidly expands our growing customer base and our product portfolio in the RV industry." Jacob Kotzubei, Partner, Platinum Equity, whose team led the acquisition on behalf of Keystone Automotive, said "We are delighted to assist Keystone Automotive and its management team execute on their desired diversification and growth plans so quickly after becoming the majority shareholder."NTP President Greg Boyd said “The sale is a positive outcome in our continuing efforts to seek new strategies, new regional markets and additional capital in order to better serve our customers and to stay competitive in our market.” Boyd went on to say that he looks forward to continuing to lead NTP to new opportunities and successes as a part of Keystone.Founded as Northwest Trailer Parts in 1962, NTP (www.ntpdistribution.com) has grown to include over 200 employees, five major warehouses, and two satellite operations across the U.S. NTP is headquartered in Wilsonville, Oregon. NTP is one of the largest distributors of aftermarket products, parts and accessories in the RV industry and currently services customers throughout major portions of the U.S. within 1-2 days.Financial details of this acquisition remain confidential.About Keystone AutomotiveThe Keystone Automotive Operations, Inc. and its affiliates are wholesale distributors and retailers of aftermarket automotive accessories and equipment, with operations servicing customers in all regions of the United States and provinces of Canada, as well as various other international locations. The Company’s fleet of over 300 trucks provide multi-day per week delivery and returns covering the 48 contiguous states and nine provinces of Canada. The Company sells and distributes specialty automotive products, such as light truck/SUV accessories, car accessories and trim items, specialty wheels, tires and suspension parts, and high performance products to a fragmented base of approximately 15,000 customers. The Company’s corporate headquarters is in Exeter, Pennsylvania.About Platinum EquityThe Platinum Equity is a global M&amp;A&amp;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 120 acquisitions.Contacts: Rudy Esteves, Vice President, Human Resources and Communications, resteves@key-stone.com or Media at 570-602-6739.

Platinum Equity Company Quark Special Upgrade Program Benefits Owners of Early Versions

Home / News / Platinum Equity Company Quark Special Upgrade Program

As reported in Macworld, an online source for Apple- and software-related news, Quark, a Platinum Equity portfolio company, is looking to the past to generate interest in the future. Quark has created a special upgrade program making the latest version of QuarkXPress available at a discount to all owners of previous versions of the software.“We know there are QuarkXPress enthusiasts that are still working with older versions and we’d like to ease their transition to QuarkXPress 9 by offering a special offer on the cost of an upgrade,” said Gavin Drake, Vice President of Marketing for Quark.Quark not only wants to encourage past users to stay current with the software, but they also urge past customers to enjoy the new functionality and productivity benefits that version 9 offers.The new features in version 9 provide access to the market of mobile devices—e-readers, smartphones, iPad, and other tablets. Creating work for these devices without coding provides easier access to mobile publication and consequently faster content creation, boosting productivity.Drake goes on, stating that, “If you’re using an older version of QuarkXPress, the new features added in recent years are going to transform your design experience and capabilities as well as enable you to go beyond print to Web, Flash, and now eBook and iPad design.”Full Article »

Platinum Equity Completes Sale of AEES

Home / News / Platinum Equity Completes Sale Of Aees

Los Angeles, CA – Platinum Equity announced today it has completed the sale of its North American wire harness business, AEES, to PKC Group. The sale transaction included cash consideration and newly issued PKC shares.AEES is one of the leading North American suppliers of wiring harness solutions to automotive original equipment manufacturers and tier-one suppliers. AEES also has operations in Brazil and Ireland. PKC is one of the leading wiring harness manufacturers for trucks in Europe and South America.“PKC is a great strategic fit for AEES with a complementary geographic footprint and customer base,” said Robert Wymbs, the principal at Platinum Equity whose team led the AEES sale.  “We are proud of Platinum’s role in establishing AEES as a leader in North America and look forward to continuing on as a shareholder in the combined organization.”Platinum acquired the business, a former division of Alcoa, in 2009 and established it as a standalone company branded “AEES.”  Platinum installed new leadership and helped manage the company through two years of complex international restructuring."We helped transform AEES into a profitable, growing business on the heels of an economic downturn that was devastating to the global automotive industry,” said Mr. Wymbs.  “That AEES is a leader in its industry today is a testament to a lot of hard work by Platinum’s operations team and AEES employees, customers, suppliers, and vendors around the world.”Platinum’s M&amp;A&amp;O® approach focuses on acquiring businesses that need operational support and can benefit from Platinum’s extensive in-house capabilities and expertise in transition, integration, and operations.About Platinum EquityPlatinum Equity is a global M&amp;A&amp;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 120 acquisitions.