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Platinum Equity Portfolio Company Ranger Boats Announces Expansion: Company Will Invest $13 Million and Create 100+ Jobs
Home / News / Platinum Equity Portfolio Company Ranger Boats Announces
FLIPPIN, Arkansas (October 13, 2010) – Fishing Holdings, the parent company of Ranger Boats, the nation's largest manufacturer of premium fiberglass fishing boats, today announced the expansion of its manufacturing facility in Flippin, Arkansas. The company will invest $13 million to retool, transition and expand its facilities, which will create more than 115 new jobs. The additional jobs will increase total employment at the manufacturing facility to approximately 540 people."We're very fortunate to have a world-class manufacturing facility that's home to such wonderful employees and some of the industry's strongest brands," said Randy Hopper, President of Fishing Holdings, which includes legendary brands Ranger, Stratos and Triton Boats. "The progress we've made recently would not have been possible without the support of Governor Beebe and the state's Economic Development Commission. It's a partnership we're very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity."The company has focused a great deal of effort over the last several months integrating the production of Stratos Boats, including the Champion brand, into its facility in Flippin. After its recent acquisition of the Triton brand, the company began transitioning the production of Triton Boats into the Flippin, AR facility as well – signaling another boost to manufacturing volume and a visible need for expansion and additional employees. "Ranger Boats is an Arkansas institution and a brand respected worldwide," said Governor Mike Beebe. "We are excited to see the company's continued growth and thank Ranger for this show of confidence in North Arkansas and its people."Founded in 1968 by Flippin, AR native Forrest L. Wood, Ranger Boats quickly became a household name among outdoorsmen and women across the country. What began as a small operation – building six boats in its initial year out of what is now City Hall in downtown Flippin – has grown to a world-class manufacturing operation responsible for the most powerful brands in the marine industry. The current facility, located on Hwy 178 North near Bull Shoals Lake, has grown and evolved over the years and stands ready to expand once again. "The Arkansas Economic Development Commission has been a proactive agency and a great help to the economy of Marion County in this case," said Marion County Judge Pete Giles. "We're grateful to see them step in and support a company that's been such a vital part of our community for so long. And by creating more than 115 new jobs, this is a huge boost to the local economy." Fishing Holdings is owned by an affiliate of Platinum Equity, which acquired Ranger and several other boat brands, including manufacturing facilities in Michigan, in February 2010.Additional information, including employment opportunities, can be found online at www.rangerboats.com.About Fishing HoldingsFishing Holdings, headquartered in Flippin, Ark., is owned by an affiliate of Platinum Equity. Fishing Holdings is the nation's premier manufacturer of fiberglass fishing boats, including the legendary Ranger, Stratos and Triton brands. More details, product information and specific offerings can be found by visiting www.rangerboats.com, www.stratosboats.com and www.tritonboats.com.About Platinum EquityPlatinum 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 more than 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.
Ulticom Agrees to be Acquired by Platinum Equity
Home / News / Ulticom Agrees To Be Acquired By Platinum Equity
Mount Laurel, NJ (October 12, 2010) Ulticom, Inc. (NASDAQ: ULCM) ("Ulticom" or "Company") announced today that it has signed a definitive merger agreement with affiliates of Platinum Equity, LLC providing for the acquisition of Ulticom by an affiliate of Platinum Equity for merger consideration of $2.33 per share in cash, after payment of a special dividend in the amount of $5.74 per share in cash. Shares held by Ulticom's controlling shareholder, Comverse Technology, Inc. ("Comverse") will be purchased by Platinum Equity’s affiliate pursuant to a separate share purchase agreement immediately prior to the closing of the merger. Under the terms of the share purchase agreement, Comverse will receive up to $2.33 per share, with a portion of such amount to be deferred and at risk based on the Company’s financial performance post-closing. The $8.07 per share to be received by shareholders represents approximately a 5% premium to the closing price of the Company's common stock on October 11, 2010 and approximately a 4% premium to the average closing price for the prior 30 days.Under the terms of the definitive merger agreement, which was unanimously approved by Ulticom’s Board of Directors, Ulticom’s public shareholders will receive $2.33 per share in cash, after payment of a special dividend by the Company of $5.74 per share. The special dividend is subject to shareholder approval of the transaction and will be paid prior to the purchase of the Comverse shares and the merger, to shareholders of record at the close of business on November 24, 2010. The Company anticipates that pursuant to NASD Rule 11140, the ex-dividend date will be the day after the dividend payment date. Accordingly, the stock will continue to trade with the right to receive the dividend after the record date.The transaction is expected to close by the end of the Company’s fourth fiscal quarter of 2010 and is subject to customary closing conditions, regulatory approvals, approval by Ulticom's shareholders, including a majority of Ulticom shares that are not owned by Comverse, and payment of the special dividend. The transaction is not conditioned on receipt of financing by the acquirer. A special meeting of Company shareholders is currently scheduled for December 2, 2010 at 9 a.m. local time, to be held at the Enterprise Center at Burlington County College, 3331 Route 38, Mount Laurel, New Jersey 08054. The Board of Directors of Ulticom has established a record date of the close of business on October 26, 2010 to determine shareholders entitled to vote at the special meeting."After a careful and extensive review of our strategic alternatives, our Board of Directors has determined that the premium to the current market price provided by this transaction offers the best value for our stockholders," said Shawn Osborne, Ulticom president and chief executive officer. "Furthermore, Platinum Equity’s financial resources and experience with communication and information technology companies will reinforce Ulticom’s ability to enhance our product portfolio and market position.""Ulticom has a solid reputation for quality and innovation, and is one of the premier providers of critical technology in wireless and broadband networks,” said Matt Young, Principal for Platinum Equity. “There is opportunity for growth as the demand for high-bandwidth services continues to evolve, and we’re eager to help Ulticom drive that growth."Morgan Keegan Technology Group acted as lead financial advisor to Ulticom and Duff & Phelps, LLC also provided a fairness opinion to Ulticom’s Board of Directors. Weil, Gotshal & Manges LLP acted as legal counsel to Ulticom in the transaction and Flaster/Greenberg P.C. acted as special New Jersey Counsel to Ulticom. Paul, Hastings, Janofsky & Walker LLP acted as legal counsel to Platinum Equity.Additional information and where to find itUlticom intends to file with the Securities and Exchange Commission a proxy statement and other relevant materials in connection with the transactions. When finalized, the proxy statement will be mailed to the stockholders of Ulticom. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH, OR FURNISHED TO, THE SEC, INCLUDING THE COMPANY’S PROXY STATEMENT WHEN IT BECOMES AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The proxy statement and other relevant materials (when they become available), and any other documents filed by Ulticom with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov. In addition, investors and stockholders of Ulticom may obtain free copies of the proxy statement (when available) and other documents filed by Ulticom with the SEC from Ulticom’s website at www.ulticom.com.Participants in the solicitationUlticom and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Ulticom’s stockholders in connection with the transactions. Information about Ulticom’s directors and executive officers is set forth in the proxy statement on Schedule 14A for Ulticom’s 2010 Annual Meeting of Stockholders filed with the SEC on April 28, 2010 and in the Annual Report on Form 10-K filed by Ulticom with the SEC on April 20, 2010. Additional information regarding the participants in the solicitation, including a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement that Ulticom intends to file with the SEC.About Ulticom, Inc.Ulticom (www.ulticom.com) provides service essential signaling component and system solutions for wireless, wireline, and Internet communications. Ulticom's products are used by leading telecommunication equipment and service providers worldwide to deploy broadband mobile access, multimedia transport control, subscriber data management and enhanced communication services. Ulticom is headquartered in Mount Laurel, NJ with additional offices in the United States, Europe, and Asia.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 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.Forward Looking StatementsNote: This Press Release contains "forward-looking statements" that involve risks and uncertainties, including statements relating to the Company’s future business performance and the proposed transactions with Platinum Equity. Important factors that could cause actual results to differ materially include the timing of consummating the proposed transactions, the risk that a condition to closing of the proposed transactions may not be satisfied and those risks described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 20, 2010. The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as otherwise required by the federal securities laws.
Platinum Equity Portfolio Company PEAK Technologies Leverages ITSmobile Solution to Extend SAP® Workflow Approvals to Sales and Executive Management Team via BlackBerry® Devices
Home / News / Platinum Equity Portfolio Company Peak Technologies
COLUMBIA, MD -- (MARKET WIRE) -- 09/08/10 -- PEAK Technologies, a Platinum Equity Company, today announced it has extended SAP workflow approvals for sales quotations to authorized PEAK users via their BlackBerry devices using the ITSmobile interface.PEAK has been a user of SAP ERP since March 2008, and since go-live has required authorized team members to review and approve sales quotations via SAP workflow from their fixed workstation. While the process met the requirements of the business, it did not allow for the review and approval of sales quotations from a mobile device while on the road.To carry out this new business initiative, PEAK's internal SAP implementation team engaged PEAK's SAP supply chain integration team to develop a mobile solution for SAP workflow approvals. PEAK's SAP team has extensive knowledge with the ITSmobile interface for creating web-based data collection solutions for supply chain customers and decided to explore this approach for workflow approvals."After our SAP supply chain team analyzed the task at hand and evaluated several commercially available solutions that ended up being cost prohibitive, we quickly determined that the ITSmobile interface was a viable solution for performing real-time functions via a BlackBerry device while also integrating directly with SAP workflow," said Dave Perrine, vice president of enterprise solutions, PEAK Technologies. "Our success in implementing this solution internally also now expands our offering for our SAP customers. The solution can enable workflow approvals for sales quotations, purchase orders, service requests, time sheet or vacation requests, or any other SAP workflow business process that can be accessed via a mobile device with a web-browser." The solution now allows PEAK authorized users to receive, approve, reject, rework, add comments or view comments from their BlackBerry device while integrating directly with SAP workflow."Our new mobile solution has dramatically increased our response time to our sales team when they submit new sales opportunities requiring review which in turn helps us get proposals and quotes to our customers faster than ever," said Colleen Miller, vice president of customer solutions, and SAP SD BPO, PEAK Technologies.About PEAK TechnologiesPEAK Technologies, a Platinum Equity Company, is a systems integrator of supply chain automation and inventory management solutions delivering tangible return on investment to some of the world's largest corporations. PEAK's primary applications include solutions for warehousing, manufacturing, and distribution operations. PEAK's portfolio of solutions and services include business process consulting, enterprise resource planning (ERP) systems integration, wireless professional services, project management, printing/media solutions, and life-cycle support services. PEAK Technologies has locations throughout North America providing a comprehensive "foot print" for national, multi-site life cycle service and support.About Platinum EquityPlatinum 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, industrials, logistics, manufacturing, and entertainment distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 70 acquisitions with more than $17 billion in aggregate annual revenue. (www.platinumequity.com) All products or company names listed are Registered Trademarks and Trademarks of their respective holders. SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies.ContactJanet Johnso PEAK Technologies, Inc. (410) 312-6033
Alliance Entertainment acquired from Source Interlink Companies by Platinum Equity
Home / News / Alliance Entertainment Acquired From Source Interlink
Alliance Entertainment acquired from Source Interlink Companies by Platinum Equity
MegaPath, Covad, Speakeasy Merger Closes
Home / News / Megapath Covad Speakeasy Merger Closes
Creates New Communications Powerhouse, Offering a Full Range of Nationwide IP Voice, Security, VPN and Internet ServicesSAN JOSE, Calif.– (BUSINESS WIRE)--MegaPath, Covad and Speakeasy today announced regulatory approval and the completion of their merger, creating a next generation Managed Services Local Exchange Carrier (MSLEC). The new company will have relationships with more than 85,000 business customers and over 4,500 partners throughout North America. The combined company will be called MegaPath and will operate one of the largest end-to-end facilities-based IP communications networks in the country.“For too long in the telecommunications industry, customer service and reliability have taken a back seat,” said D. Craig Young, Chairman and CEO of MegaPath. “With the combination of MegaPath, Covad and Speakeasy, we are bringing to market a leading nationwide IP network to deliver a complete line of end-to-end managed services, including voice, data and security. Small, medium and large enterprises will now benefit from a new service provider that is willing to invest in advanced services, while remaining heavily focused on customer service.”With the combination of MegaPath, Speakeasy and Covad, the new MegaPath will provide a complete voice, access, private networking and managed security solution for business customers of all sizes with a turnkey solution for conducting business and communicating with customers, partners and employees. In addition, its leading voice services combine broadband and voice capabilities with Quality of Service (QoS) monitoring for superior call clarity, which is backed up by industry-leading service level agreements (SLAs).The new MegaPath remains a privately held company. Moving forward, it will serve the market through two divisions: a wholesale operating division and a direct, business markets division. The Company’s executive team includes D. Craig Young, former CEO of MegaPath, who now serves as Chairman and CEO; Pat Bennett, former CEO of Covad, as Chief Strategy Officer and Head of Wholesale Markets; and Bruce Chatterley, former CEO of Speakeasy, as President of the Business Markets unit in charge of all non-wholesale customer sales, service and marketing.Financial terms of the merger were not disclosed.About MegaPathMegaPath operates one of the largest end-to-end communications networks in the country. In 2010 the company combined with Speakeasy and Covad to form a single company providing a full range of nationwide IP voice, security, and VPN and Internet services. MegaPath helps more than 85,000 businesses of all sizes to easily and securely communicate between their headquarters, employees and business partners to lower costs, increase security and enhance employee productivity. To learn more about MegaPath's managed IP data, voice and security services, please visit www.megapath.com or call 1-877-MegaPath (634-2728).
Platinum Equity and The Gores Group Acquire Alliance Entertainment from Source Interlink
Home / News / Platinum Equity And The Gores Group Acquire Alliance
Firms Form Joint Venture That Will Operate CD-DVD-Game Distributor as a Standalone BusinessLOS ANGELES, CA (September 1, 2010) – Platinum Equity and The Gores Group today announced that they have acquired Alliance Entertainment from Source Interlink Companies, Inc. Financial terms of the transaction were not disclosed.Alliance Entertainment is the largest wholesale distributor of CD, DVD and videogame titles in the United States, providing distribution, fulfillment and other services to such retailers as Barnes & Noble, Borders, Amazon.com, Target.com and BestBuy.com.“The market for distributing media content is highly fragmented and rapidly evolving,” said Johnny Lopez, the partner at Platinum leading the Alliance Entertainment investment. “However, we have a great deal of experience assisting companies to thrive within industries in flux. With our combined operational and financial support, M&A expertise, and the company’s established management team, Alliance Entertainment will have all the elements it needs to grow.”Alliance Entertainment manages a physical inventory of 400,000 CD, DVD and videogame titles in its state-of-the-art distribution center in Shepherdsville, KY. The company has 2,900 unique customers and ships to 14,500 locations throughout the United States. Alliance Entertainment also specializes in the development of highly-customized technology and fulfillment services supporting e-commerce.“This is a fundamentally solid business, but it faces substantial challenges in a rapidly changing distribution market,” said Steve Yager, Senior Managing Director of The Gores Group. “We look forward to helping navigate those changes and maximize potential opportunities for growth.”The company was acquired and will be operated by Project Panther Holding Corporation, a joint venture between Platinum Equity and The Gores Group.“This is an exciting opportunity for our company, our customers and our suppliers,” said Alan Tuchman, Alliance Entertainment CEO, who has been with the company for 25 years and will continue leading the business. “This transaction will provide us with additional operational and financial resources to continue our long-standing, proven commitment to customer service. We are now well positioned to grow the business going forward.”A team of operations specialists is now working with the Alliance Entertainment management team to transition the business to new ownership."This transaction will allow Source Interlink to focus on the continued growth and investment in our core competencies of wholesale magazine distribution and the further integration of our enthusiast media properties across multiple platforms,” said Michael L. Sullivan, CEO of Source Interlink. “Throughout this process it was clear that Platinum Equity and The Gores Group value Alliance Entertainment’s capable management team, talented employees and dedicated customers. We are pleased to have identified the right buyer and are confident the business is in good hands.”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 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.About The Gores Group, LLCThe Gores Group LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm’s current private equity fund has committed equity capital of $2.9 billion. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London. For more information, please visit www.gores.comAbout Source Interlink Companies Inc.Source Interlink Companies (www.sourceinterlink.com) is the leading publisher of magazines and on-line content for enthusiast audiences, as well as the second largest wholesale distributor of magazines and provider of related in-store services across North America. Its media division creates content for more than 70 publications, 90 websites, events, television, and radio. A portfolio which includes a number respected brands such as Motor Trend, Automobile, Hot Rod, Automotive.com, Surfer and Intellichoice.
Platinum Equity Portfolio Brand Glastron Boats Launches 2011 Models from New Facility
Home / News / Platinum Equity Portfolio Brand Glastron Boats Launches 2011
Boat builder hosts dealers at Open House event in new facilityCadillac, Michigan, August 18, 2010 – Rec Boat Holdings announces the launch of its 2011 model year line up for Glastron Boats, with an Open House event conducted at the new manufacturing facility in Cadillac, Michigan. Dealers from all over North America and International markets attended the series of business meetings with opportunities to meet with the new management team, new plant familiarization tours and introductions to new sales and marketing programs.Along with the transition of production to the new Cadillac, MI manufacturing facility, Glastron’s 2011 runabout and Ski & Fish models up through 22-feet, have an all new hull construction delivering a new look and feel with a completely finished inner liner and floor construction. These new hulls provide a cleaner, finished look in storage compartments and other interior openings.Brand new for model year 2011 is the MX 180 BR, a superb entry into the bowrider outboard package market. Designed to offer an affordable boat, motor and trailer package to new owners, the MX 180 BR sports sharp new gelcoat colors including the trademarked Glastron sphere design. Plenty of amenities are standard on board with an AM/FM stereo with two speakers and MP3 adapter, finished ski locker with mat and hinged lid, molded under seat storage with latch and integrated molded swim platform. An XL package is also available for the MX 180 BR, providing additional options such as full, side glass wraparound windshield, 3-step boarding ladder, convenience package, flip-up bucket seat (1), ski pylon, snap-in carpet and stainless steel rubrail insert and drink holders. The “Base Real Deal Retail Price” for the MX 180 BR, powered with a 90-hp outboard engine plus a standard custom-matched trailer, will be $16,998 (US). Outboard power options are available up to 150 horsepower.“New emission regulations from the EPA are forcing a significant increase in the cost of stern drive engines which will affect offerings in the smaller boat segment,” stated Roch Lambert, Group President, Rec Boat Holdings. “Outboard engines offer a clean, lightweight power alternative with improved fuel efficiency and smoother operation. The new outboard powered MX 180 BR brings the affordability to boating back in line with consumer demand and we’re excited to be ahead of the game by offering a boat, motor and trailer package to a broader base of consumers,” Lambert concluded.Since the purchase of Glastron by Platinum Equity earlier this year, the manufacturing was moved from the Little Falls, MN factory to the Cadillac, MI facility, introducing 22 boat models with new processes, features and colors to a brand new production facility. The new operation is now 100% functional with improved engineering resources and administrative operations.“In a very short amount of time and solid commitment from Platinum, we’ve accomplished a major transition of production and resources; all without disruption to our selling networks,” Lambert stated. “The dealers and distributors in attendance this week are very pleased with what they saw. Their confidence is secure, which will result in a very exciting and successful 2011 model year for Glastron,” Lambert added. New Glastron models will be displayed throughout major boat shows in the coming season as well as available for more information and detail specifications at www.glastron.com.The Recreational Boat Group, a division of Platinum Equity affiliate PBH Marine Group, LLC, is engaged in the manufacturing, design, distribution and marketing of world-class boat brands Four Winns, Glastron and Wellcraft. The Fishing Boat Group division of PBH Marine Group, LLC includes the Champion, Ranger, Stratos and Triton brands.For More Information:Leone Chirhart877.811.1628lchirhart@glastron.com
Platinum Equity Portfolio Company Acument Completes Divestiture of Avdel and GEC Units
Home / News / Platinum Equity Portfolio Company Acument Completes
LOS ANGELES, CA--(Marketwire - August 3, 2010) - Platinum Equity today announced that Acument Global Technologies has completed the sale of Acument's Avdel and Global Electronics & Commercial (GEC) business units to Asia Trading Company Limited, a company owned indirectly by funds advised by CVC Asia Pacific and Standard Chartered Private Equity Limited (SCPEL). Terms of the divestiture were not disclosed.Avdel manufactures and markets blind fasteners (rivets) for customers around the world. Avdel is based in London with operations, sales and distribution capabilities in the UK, US, Canada and Western Europe.GEC manufactures and markets fastener solutions for customers in the global electronics, industrial and commercial, construction and Asia automotive segments. GEC is based in Singapore with operations throughout Asia and in the US and Australia."Our ability to effect operational change in the business created an attractive opportunity to monetize part of our investment while at the same time continuing to support Acument's strategic plans," said Adam Cooper, senior vice president at Platinum who led the sale process. "Acument has succeeded in spite of significant obstacles. The sale of these units and the strength of the remaining business going forward reflect many years of hard work by countless people in and around the company."Mr. Cooper applauded CVC/SCPEL as a valued transaction partner and said he believes Avdel and GEC will have great success under new ownership."This was a complex, multi-national divestiture and through an efficient and collaborative process we created a solution that works well for everyone," said Mr. Cooper.Platinum acquired Acument in 2006 from Textron Inc. Beginning in late 2008 Acument faced rapidly falling revenue caused by economic dislocation and steep declines in global automotive production. Over the nearly two years that followed, the Platinum operations team partnered closely with Acument management to develop and execute a global restructuring initiative.As part of the restructuring effort, Acument aggressively scaled its cost structure while working closely with customers, lenders and other stakeholders to stabilize the business and ensure continuity of supply."Thanks to a lot of determination and a willingness to make some difficult but necessary decisions, we worked through the worst of the crisis and came out the other side stronger, more nimble and positioned to succeed," said Bryan Kelln, principal and head of portfolio operations at Platinum. "It was a collaborative effort, and a testament to Platinum's M&A&O approach and experience helping companies navigate through turbulent times."Following the sale of Avdel and GEC, Acument remains a leader in engineered mechanical fastening products and services for the transportation market, including automotive, heavy truck and bus, off-highway equipment, military and aerospace."Acument is a much stronger competitor in the fastener industry today, thanks to a healthy balance sheet and a strong focus on improving operational performance," said Acument CEO Rick Dauch. "As a result, we are now well positioned to invest in and grow our core transportation businesses."Acument was advised by Goldman Sachs, Paul Hastings and Baker & McKenzie. CVC/SCPEL was advised by Bank of America Merrill Lynch and Clifford Chance.About Acument Global Technologies, Inc. Headquartered in Troy, Mich., USA, Acument Global Technologies, Inc., is among the world's leading providers of mechanical fastening products and services for the transportation market, including engineered fastening systems, inventory management services, and application engineering support. With more than 2,600 employees at facilities in North America, South America and Europe, Acument supplies fastening products, systems and services to customers around the world. For more information about Acument Global Technologies: www.acument.comAbout 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 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.
Excel Telecommunications Acquisition Closed by Platinum Equity Portfolio Company Matrix Telecom
Home / News / Excel Telecommunications Acquisition Closed By Platinum
DALLAS – August 3, 2010 - Matrix Telecom Inc. ("Matrix"), a Platinum Equity company and provider of voice and data services to small and medium enterprise and residential customers across the United States, today announced it has completed the acquisition of substantially all the customer relationships and assets of Irving-based Comtel Telcom Assets LP, operating as Excel Telecommunications ("Excel") from Denham Capital.Financial terms of the transaction were not disclosed."We are committed to making Matrix the highest-quality, most affordable choice for wholesale voice services in the telecommunications industry," said Charles G. "Chuck" Taylor, Jr., President and CEO of Matrix. "Excel provides Matrix with complementary network coverage, state-of-the art switching, loyal and valued customers and an experienced, customer-centric work force. Matrix and Excel are a perfect fit."Excel Telecommunications provides a suite of high-quality, integrated voice and data communications products and services to residential, commercial and carrier customers. Based on its Veraz softswitching platform, it has developed and deployed next generation, IP-based voice and data services.A team of Platinum in-house operations specialists is working with Matrix and Excel management to integrate the two businesses. Excel's services will continue to be marketed under their existing brand names."We have a lot of experience seamlessly integrating complex telecom acquisitions and the transition process is already well under way," said Rob Joubran, partner and treasurer for Platinum Equity. "Matrix and Excel are complementary businesses with a shared commitment to delivering the highest levels of customer service. We expect both will grow even stronger as a result of this combination."The acquisition is Matrix's third in the last four years, having successfully integrated the small business group of Global Crossing in 2006 and certain assets of the former Trinsic Communications in 2007.About Matrix Telecom, Inc.Matrix Telecom, Inc., (www.matrixbt.com), a Platinum Equity company, operating as Matrix Business Technologies and Trinsic, Powered by Matrix, is an integrated telecommunications provider serving consumers and small and medium size businesses nationwide. Matrix is licensed as a facilities-based CLEC and Long Distance Provider in 49 states plus the District of Columbia. It has 200 employees with headquarters in Dallas, TX and operations in Rochester, NY and Atmore, AL.About Platinum EquityPlatinum Equity (www.platinumequity.com), a global M&A&O® firm specializes 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, industrials, logistics, manufacturing, and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. About Excel TelecommunicationsExcel Telecommunications (www.excel.com) is a leading, facilities-based provider of a rich suite of high quality, integrated voice and data communications products and services to residential, commercial and carrier customers.Excel offers a wide range of switched and dedicated voice and data services, including domestic and international direct-dial and dial-around long distance, toll-free, wholesale pre-paid long distance and local services, as well as carrier transport, conferencing, hosting and other value-added services, to commercial, carrier and residential customers. Based on its Veraz softswitching platform, Excel has developed and deployed its next generation, IP-based voice and data services, including SIP trunking, hosted IP PBX, IP VPNs and dedicated data services. The Company owns and operates a robust, nationwide Class IV/V VoIP-FGD enabled network that forms a mesh of connectivity across 9 major U.S. metropolitan markets. Consisting of long haul fiber paths, numerous routers, servers and switching equipment, the network provides on-net coverage of virtually every U.S. LATA. Excel also maintains interconnect agreements with more than 300 carriers.Contact:Dan WhelanPlatinum Equity(310) 282-9202dwhelan@platinumequity.comAnna PorteusMatrix Telecom, Inc.(301) 610-4354aporteus@matrixvalue.com
Triton Boats Acquired from Brunswick by Platinum Equity Portfolio Company Fishing Holdings
Home / News / Triton Boats Acquired From Brunswick By Platinum Equity
FLIPPIN, Ark. (July 29, 2010) – Fishing Holdings, LLC, a premier manufacturer and marketer of fiberglass fishing boats owned by an affiliate of Platinum Equity, announces its acquisition of Triton Boats from Brunswick Corporation. Terms of the transaction are not disclosed.Triton founder Earl Bentz will join Fishing Holdings and resume his role at the helm of Triton Boats. Additionally, several key members of Triton's executive management and sales representative group will remain on board the Triton team and will continue to lead the brand from their Tennessee office."This move creates an exciting opportunity to reenergize the Triton brand. As we move ahead we will look to our roots and to our dedication to the fishing community on which the Triton brand was founded," said Bentz. "I have been working closely with many Triton dealers since I started the company. I look forward to continuing that collaboration with our dealer base and to serving our loyal customers into the future."Echoing Bentz's comments, Randy Hopper, President of Fishing Holdings said, "We are extremely pleased to have Earl and his senior management team join our organization. The acquisition will allow us to leverage our world-class manufacturing operations and further strengthen our unwavering commitment to fishing, boating families and competitive tournament angling."Triton fiberglass boats will be built in Flippin, Ark. where production will begin in Fall of 2010. Brunswick will continue to manufacture Triton aluminum boats under a license agreement. "We are excited to welcome Earl Bentz and the Triton family of dealers and customers to our team," said Louis Samson of Platinum Equity. "Investing in a high-quality brand like Triton is another opportunity to demonstrate our commitment to succeed in the industry and our focus on supporting our portfolio companies in their growth and strategic plans."Fishing Holdings was advised by Stephens Inc. and Latham & Watkins LLP in connection with the transaction.About Triton BoatsTriton Boats was founded in 1996 and is one of the most recognized brands in fishing. From professional, tournament-grade bass boats to multispecies rigs and saltwater vessels, Triton has been among the leaders in bringing added features and comfort to modern fishing and recreational boats. More information is available at www.tritonboats.com.About Fishing HoldingsFishing Holdings, headquartered in Flippin, Ark., is owned by an affiliate of Platinum Equity. Fishing Holdings is the nation's premier manufacturer of fiberglass fishing boats, including the legendary Ranger, Stratos and Triton brands. More details, product information and specific offerings can be found by visiting www.rangerboats.com, www.stratosboats.com and www.tritonboats.com.About Platinum EquityPlatinum 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 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. More information is available at www.platinumequity.com.
