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Matrix Telecom Announces New Chief Executive Officer
Home / News / Matrix Telecom Announces New Chief Executive Officer
Irving, TX – Matrix Telecom, a Dallas, Texas-based provider of telecom services, announced today Jerry Ou has been appointed President and Chief Executive Officer of Platinum Equity portfolio companies Matrix Telecom and Americatel Corporation. A seasoned executive with more than 10 years experience working in the telecommunications field, Ou had been COO of Matrix Telecom since 2010. He succeeds former President and CEO Charles "Chuck" Taylor, Jr., who left the company to pursue other opportunities.Ou immediately assumes operating responsibilities for all of the Matrix business units, which includes Matrix Business Technologies, Trinsic, Excel Telecommunications, and Americatel. He will continue to build on Matrix Telecom’s success in growing its wholesale and consumer business segments while streamlining operations and maximizing profitability for the group."The changing telecommunications landscape offers Matrix and Americatel even more opportunities to grow and expand our portfolio of products," said Ou. "I look forward to leading our companies in continuing to provide high value and reliable service for all our customers’ telecommunications requirements."Ou was previously the COO of Excel Telecommunications. He joined the Matrix team after the acquisition of the Excel Telecommunications business from Comtel Telcom Assets LP in 2010. Ou previously served as president of Mercantel Communications LP and has been in telecommunications for over ten years. Prior to Mercantel, Ou worked as a Senior Consultant with Simplified Development, the technology provider for Mercantel, focusing primarily on the Asian-American customer base. Prior to Simplified, Ou was a financial analyst with a Goldman Sachs and worked with banks JP Morgan and the Bank of Tokyo. Ou graduated from Harvard University with an honors degree in Economics.Full Press Release »More About Matrix Telecom at www.matrixbt.com »
Palace Sports & Entertainment Partners with Oakland University
Home / News / Palace Sports Entertainment Partners With Oakland University
Auburn Hills, MI -- Palace Sports & Entertainment's success in its innovative role as sports marketer for Oakland University has paid off for both parties as the two organizations have agreed to extended the current agreement, which gives Platinum Equity's portfolio company, Palace Sports & Entertainment's (PS&E), the exclusive rights to sell sponsorship for OU's athletic teams and venues."We are pleased to continue our relationship with Palace Sports & Entertainment," said Oakland University's Director of Athletics Tracy Huth. "The partnership has been outstanding and we feel fortunate to be working with Dan and Theresa (Doan, PS&E's coordinator of its relationship with OU.). Their professionalism and ability to engage with clients has benefited Oakland Athletics. We look forward to the continued success of our relationship."Sponsorship opportunities will include print, radio and television advertising as well as indoor and outdoor signage and will focus on the university's Division One men's and women's sports teams and the "O'rena," Oakland's athletic facility. The initial multi-year deal was announced in 2007.Read Press Release »More about Palace Sports & Entertainment at www.palacenet.com »
KEMET Announces Construction of New Manufacturing Facility in Macedonia
Home / News / Kemet Announces Construction Of New Manufacturing Facility
Greenville, SC - KEMET Corporation (NYSE: KEM), a leading manufacturer of tantalum, ceramic, aluminum, film, paper and electrolytic capacitors, today announced plans to construct a new manufacturing facility in Skopje, Macedonia.“This facility is a component of KEMET’s long-term strategy of consolidating and maintaining manufacturing for its European customer base, while fulfilling our objective of lowering the cost structure associated with our Film and Electrolytic business," stated Per Loof, Chief Executive Officer. “The first products to be manufactured at this new facility will be standard DC film capacitors which support many industries including alternative energy, automotive and industrial,” continued Loof.The initial facility will be a total 10,000 square meters of manufacturing and administrative office space and employ approximately 200 people when fully operational. The expected completion date of the facility is summer 2012. The investment in this new KEMET facility, including transferred assets, is expected to be approximately €12 million. More about KEMET at www.kemet.comIn June 2009 Platinum Equity provided a credit facility, allowing KEMET to complete a tender offer to retire debt. Additionally, Platinum provided KEMET with additional liquidity to fund future growthRead Press Release »
Platinum Equity Confirms Sale of Strategic Distribution, Inc.
Home / News / Platinum Equity Confirms Sale Of Strategic Distribution Inc
Los Angeles, CA – Platinum Equity confirmed today the sale of Strategic Distribution, Inc., (SDI) to LLR Equity Partners and Pouschine Cook Capital Partners. Financial terms of the transaction were not disclosed. SDI provides supply chain management solutions for industrial and institutional customers in the United States, Canada, and Mexico.Platinum Equity acquired SDI through a public-to-private transaction in March 2007 and executed an operational turnaround that stabilized SDI’s financial performance and reoriented the company’s commercial strategy. Several new contract wins during Platinum’s ownership drove increased revenue and positioned the business for long-term success.Platinum Equity utilized its M&A&O approach to create demonstrable value at SDI through growth and operational improvements, creating an attractive divestiture opportunity.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 115 acquisitions.
KEMET Corporation Set to Join Russell 3000 Index
Home / News / Kemet Corporation Set To Join Russell 3000 Index
Greenville, SC - KEMET Corporation (NYSE: KEM) joined the US broad-market Russell 3000 Index, according to a preliminary list of additions posted on June 17 on the Russell Investments web site.Platinum Equity made an investment in KEMET in June of 2009 and has played a role in its operational restructuring.Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. The Russell 3000 also serves as the U.S. component to the Russell Global Index. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.Full Press Release »
Schutt Sports Acquires Adams USA Football Helmet and Faceguard Product Lines
Home / News / Schutt Sports Acquires Adams Usa Football Helmet And
Litchfield, IL – Schutt Sports, a leading domestic manufacturer of protective sports equipment and aftermarket reconditioning services, announced today that it acquired certain football helmet and faceguard assets from Adams USA. Financial terms of the transaction were not disclosed.Schutt Sports will assume responsibility for manufacturing the acquired product lines and will continue marketing helmets and faceguards under the Adams brand name.“Adams is a respected, traditional football brand that has served its customers very well over the years,” said Robert Erb, Schutt Sports CEO. “We are excited because this acquisition will expand our relationship with the team dealer market and will enhance our lineup, allowing us to offer quality football products to a wider variety of customers.”Adams has been manufacturing and marketing sporting goods for more than 50 years. Its football helmets and faceguards are popular in the youth football market where Adams’ reputation for quality combines with a strong value proposition.Adams also manufactures other sports-related equipment, and the company will continue to market those products independently.“We sold our football headgear product lines in order to focus on improving and expanding our offerings in other areas of the sporting goods market,” said Adams USA CEO David Wright. “Adams has a proud football heritage and we have great confidence in Schutt Sports’ ability to build on that tradition and move forward with these products.”Platinum Equity acquired Schutt Sports in December 2010. Jacob Kotzubei, the partner at Platinum whose team led the acquisition of Schutt Sports, said the Adams add-on investment is a strong complementary fit.“This is a strategic acquisition that will expand the Schutt Sports’ product line and take advantage of the company’s world class manufacturing and marketing capabilities,” said Mr. Kotzubei. “We view Schutt Sports as a compelling growth platform and we will continue looking for opportunities to expand the business organically and through additional investments.”About Schutt SportsSchutt Sports is a domestic manufacturer and the world’s leading maker of football helmets and faceguards. Three out of four professional football players take the field wearing Schutt® gear. The ION 4D, AiR XP, and DNA line of helmets are the world’s only football helmets to feature TPU Cushioning – the same material used by the US military for helmets for fighter pilots and paratroopers. Schutt faceguards are the best in the world, both in form and in function. Schutt is also the manufacturer and supplier of bases to Major League Baseball and Minor League Baseball, as well as the official batter’s helmet supplier to the Team USA National Softball Team. Schutt gear is designed for maximum performance based on standards dictated by the most important person in our world – the player.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 120 acquisitions.
Pistons Sports & Entertainment
Home / Our Company / Pistons Sports Entertainment
Pistons Sports & Entertainment Download Factsheet Private Transaction Active North America Media & Telecom Entertainment & Sports Hosts, produces and manages premier sporting and entertainment events in Michigan Company Overview Pistons Sports & Entertainment assets include the Detroit Pistons NBA franchise, the Henry Ford Detroit Pistons Performance Center, the G-League franchise Motor City Cruise, and the live entertainment company 313 Presents.The Pistons were founded in 1941 and are one of eight original NBA franchises. The team moved to Detroit in 1957 and has won three NBA titles (1989, 1990, 2004).313 Presents is a joint partnership formed in 2017 with Olympia Entertainment. The venture produces concerts, theatrical productions, sporting events and family-themed shows at six world-class venues: Little Caesars Arena, the Fox Theatre, Comerica Park, DTE Energy Music Theatre, Meadow Brook Amphitheatre and Michigan Lottery Amphitheatre. Transaction Description Acquired in June 2011 NBA Titles Won 3 690 Amsterdam Street, Detroit, MI 48202 United States Hosts, produces and manages premier sporting and entertainment events in Michigan Company Overview Pistons Sports & Entertainment assets include the Detroit Pistons NBA franchise, the Henry Ford Detroit Pistons Performance Center, the G-League franchise Motor City Cruise, and the live entertainment company 313 Presents.The Pistons were founded in 1941 and are one of eight original NBA franchises. The team moved to Detroit in 1957 and has won three NBA titles (1989, 1990, 2004).313 Presents is a joint partnership formed in 2017 with Olympia Entertainment. The venture produces concerts, theatrical productions, sporting events and family-themed shows at six world-class venues: Little Caesars Arena, the Fox Theatre, Comerica Park, DTE Energy Music Theatre, Meadow Brook Amphitheatre and Michigan Lottery Amphitheatre. NBA Titles Won 3 Transaction Description Acquired in June 2011 690 Amsterdam Street, Detroit, MI 48202 United States Latest Article How commitment and resources drive Platinum Equity’s European momentum July 18, 2022 Platinum executives explain how they execute European strategy that has driven nearly $6 billion in total transactions since June 2020The ability to execute European-headquartered global, pan-European, and domestic complex de... Read More Latest Article Platinum Equity to Acquire Majority Interest in Global Intimate Apparel Company Hop Lun June 20, 2022 Investment in Hong Kong-based lingerie and swimwear company led by Platinum’s Singapore investment team LOS ANGELES and SINGAPORE, June 20, 2022 — Platinum Equity announced today the signing of a definitive agreement t... Read More Latest Article Solenis’ ‘commitment to people, resilient culture’ receives WSJ recognition June 15, 2022 When Platinum Equity announced the $5.25 billion acquisition of Solenis, the firm was highly complementary of the water treatment chemistry company’s leadership. “It is an exceptionally well-run organization with an ou... Read More previous Next Our Portfolio Explore the full Platinum Equity portfolio of companies by transaction type, industry, location or ownership status. BROWSE NOW
NBA Board of Governors Unanimously Approves Sale of Detroit Pistons to Tom Gores
Home / News / Nba Board Of Governors Unanimously Approves Sale Of Detroit
New York, NY – The NBA Board of Governors has unanimously approved the sale of the Detroit Pistons to Tom Gores and his investment firm, Platinum Equity. The transaction is expected to close shortly."We are delighted that the NBA’s Board of Governors approved Tom Gores’ purchase of majority ownership of the Pistons,” said NBA Commissioner David Stern. “We look forward to the Pistons’ continued growth, both on and off the court, under his leadership.”
Platinum Equity Acquires Active Aero Group
Home / News / Platinum Equity Acquires Active Aero Group
Los Angeles, CA and Belleville, MI – Platinum Equity announced today that it has acquired a majority stake in Active Aero Group, Inc. (“Active Aero”), a provider of expedited transportation and logistics solutions.Platinum acquired the majority stake in Active Aero from a consortium of sellers, including Berkshire Partners LLC and Greenbriar Equity Group LLC. The sellers retained a minority interest in the business. Terms of the transaction were not disclosed.“Active Aero’s enthusiastic and highly-skilled logistics experts deliver expedited transportation solutions to its customers every day. The company’s customer-first orientation, combined with its IT systems and unique business model, provide a strong foundation to build upon going forward,” said Brian Wall, partner at Platinum who led the team pursuing the acquisition. “We look forward to working closely with Chris Healy and his team in order to further solidify Active Aero’s position in the premium transportation and logistics market.”Based in Belleville, Michigan, Active Aero provides its customers on-demand air and ground transportation solutions through an expansive network of third-party providers and its owned fleet of assets. The business utilizes its own proprietary procurement and execution IT platform and provides its customers the highest level of customer service and visibility to ensure critical deadlines are met while minimizing disruption during times of need and supply chain disorder.Active Aero’s sophisticated IT systems also provide customers with unparalleled choices through the ability to easily weigh the costs and benefits of different transportation options to determine which solution best meets their individual needs.Active Aero CEO Chris Healy, who has been with the company in various capacities since 2001, will continue leading the businesses under the new ownership.“Partnering with Platinum Equity will create exciting new opportunities for our company and our customers. We expect to diversify our product offering and accelerate our plans for expansion,” said Mr. Healy. “We have an exceptional track record for safety, on-time delivery and customer service. With Platinum’s operations expertise and M&A resources we are poised for an exciting period of growth and new possibilities.”About Active Aero GroupActive Aero Group is a privately held company headquartered in Belleville, Michigan. Active Aero Group owns and manages two primary business units: Active On-Demand and USA Jet Airlines.Active On-Demand provides the world’s largest shippers and manufacturers with expedited ground, air, and emergency air charter services. Active On-Demand's online transportation management solution provides shippers with access to greater capacity, more bids, more service options, and the best available price for every shipment.USA Jet Airlines provides air cargo charter shippers, business executives, athletic teams, and music and entertainment professionals with private jet charter services to and from more than 5,000 airports throughout North America and the Caribbean.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 115 acquisitions.
How a Newspaper is Fending Off Groupon
Home / News / How A Newspaper Is Fending Off Groupon
In light of the overwhelming success of Groupon and LivingSocial, a program created by The San Diego Union-Tribune is, according to DigiDay Daily, giving them a run for their money. The Daily Deal program at the Union-Tribune negotiates discounts with local merchants much like Groupon and LivingSocial.The edge that the Daily Deal maintains, however, is its front-page placement on the newspaper which is seen by over 1 million subscribers weekly. In addition, the Daily Deal reaches the Union Tribune's online audience.DigiDay Daily also notes that the Union-Tribune's Daily Deal is one of the biggest revenue generating programs across all San Diego media and the largest daily deal program among newspapers nationwide. Much of its success, according to Vin Vacanti, CEO of Yipit, a daily deals aggregator, is because businesses don't see it as advertising--instead the Daily Deal is geared more like a sales commission paid to the newspaper. This enables businesses of all sizes--even small local restaurants--to leverage the Union-Tribune's wide demographic.Read Full Article »
