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Platinum Equity Announces Pending Sale of AEES to PKC Group
Home / News / Platinum Equity Announces Pending Sale Of Aees To Pkc Group
The PKC Group today signed an agreement for the purchase of AEES companies from Platinum Equity. AEES is one of the leading North American wiring harness manufacturers for heavy- and medium-duty trucks and it also has a significant position in light vehicle wiring harnesses. In addition, AEES provides components and wires to other contract manufacturers. AEES' customers include most major auto and truck makers and has operations in USA, Mexico, Brazil, and Ireland. In June of 2011, AEES employed 13,800 people worldwide.During the past years, AEES and Platinum Equity successfully implemented a comprehensive program to enhance the company's overall efficiency and competitiveness."Following two years of complex international restructuring AEES is now thriving as a profitable, growing business. Combining with PKC is a logical and exciting next step," said Rob Joubran, partner at Platinum Equity. "We are proud of the role Platinum Equity has played in establishing AEES as a leader in North America and look forward to continuing on with the organization as a shareholder.""We are excited about this unique opportunity to acquire AEES, as it offers an ideal strategic fit for our business through a highly complementary geographic footprint and customer base," states PKC Group President and CEO Harri Suutari. "By combining AEES, a major North American truck wiring harness manufacturer, with PKC, one of the leading wiring harness manufacturers for trucks in Europe and South America, we create a leading global truck wiring harness supplier. Following completion of the transaction, the combined entity supplies wiring harnesses to the six leading Western truck groups. With this acquisition, we also enter the automotive industry in North America and Brazil. Currently, PKC manufactures wiring harnesses also to light vehicles, buses, recreational vehicles as well as construction, forestry and agricultural equipment in Europe and South America, and has a small percentage of sales in North America. The acquisition hereby provides access to new customer segments and also offers PKC an opportunity to expand its product and service offering, e.g. via manufacturing of components and wires. The combined entity will employ about 22,000 employees."Read Full Press Release »
Platinum Equity Acquires Quark
Home / News / Platinum Equity Acquires Quark
Los Angeles, CA and Denver, CO – Platinum Equity announced today that it has acquired Quark, a provider of publishing software for professional designers and enterprise organizations."Quark is a legendary brand that helped create the desktop publishing market and is now helping organizations transform how they publish content both to print and digital media," said Brian Wall, partner at Platinum who led the team pursuing the acquisition. "Quark is committed to its loyal and dedicated user base and we are enthusiastic about the company's new products which are gaining traction and generating positive reviews. We believe that with their expertise and innovative software, Quark has the potential to revolutionize publishing again."Based in Denver, Colo., Quark provides a set of software applications targeted at creative professionals and the enterprise dynamic publishing market. These tools are components in a value chain of software products that enable the creation, management, publication, and delivery of content across a variety of media including print, email, web, social media, and the next generation of e-reader, tablet, and mobile devices such as the iPad."This transition comes at an exciting time for our company and our customers. In the past few years we have made great strides in helping our customers realize dynamic publishing, have re-invigorated QuarkXPress, and have readied Quark to take an early leadership position in digital publishing," said Raymond Schiavone, President and CEO at Quark. "Platinum Equity is well-positioned to help us continue to execute our dynamic publishing vision through their market reach, merger and acquisition experience, and operational support. This is the natural next step for Quark's evolution."Mr. Wall said that Platinum Equity has already initiated a process focused on transitioning Quark to new ownership. The Platinum operations team is working together with the Quark management team to focus on Quark's core markets and create an acquisition strategy focused on expanding the breadth and depth of Quark's product capabilities and geographic coverage.For more information Quark customers can email questions to pr@quark.com.About QuarkQuark Software Inc. 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, Quark's 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 Inc. is privately held.About Platinum Equity Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 115 acquisitions.
Schutt Sports Named Official Helmet for Lone Star Conference Softball
Home / News / Schutt Sports Named Official Helmet For Lone Star Conference
In a multi-year agreement, Schutt Sports has been named the official helmet of softball's NCAA Division II Lone Star Conference.“The Lone Star Conference schools are right in the middle of softball country,” said Dianne Baker, national promotions manager for Schutt Sports. “This deal gives us great exposure in some key markets and puts our best equipment on some of the best players in the country.”Through the agreement, Schutt will showcase its new AiR Maxx T softball batter's helmet. The helmet is engineered using Schutt's TPU cushioning technology, the same technology Schutt uses in its football helmets.“The fact that these helmets are top-of-the line, as well as made here in the United States means quite a bit to us and our schools," said Stan Wagnon, Commissioner of the Lone Star Conference.Full Press Release »
Platinum Equity Company American Commercial Lines Announces New Leadership
Home / News / Platinum Equity Company American Commercial Lines Announces
Jeffersonville, IN – One of the largest and most diversified inland marine transportation companies in the United States and a Platinum Equity company, American Commercial Lines (ACL), announced today the new leadership of Mark Knoy as President and Chief Executive Officer and David Huls as Senior Vice President and Chief Financial Officer.Mark Knoy, a veteran to the industry after spending seventeen years with AEP River Operations, LLC, a subsidiary of American Electric Power Co., Inc, will continue within the same industry. Under Knoy’s leadership, AEP River Operations grew to become one of the nations most successful barge lines. Louis Samson, who led the acquisition of ACL for Platinum Equity in December of 2010, commented: "We are excited to have Mark join the team and help write a new chapter in the history of ACL -- his track record speaks for itself.""Mark brings to ACL many years of profitable growth on the inland waterways," said Bryan Kelln, President of Portfolio Operations at Platinum Equity. "Throughout his career he has demonstrated the ability to lead organizations to very high levels of financial and operational performance."ACL operates a fleet of more than 2,400 transportation vessels as well as the largest single-site inland shipbuilding and repair facility in the United States.Mr. Knoy stated, "I'm honored to be taking the helm of a market leader with such a strong heritage and a deep portfolio of assets." He added, "Platinum is fully committed to ACL's success and I am excited to partner with them and with my new ACL teammates to help guide the company into the future -- it's a tremendous opportunity to create value."Mr. Huls, 45, will be joining ACL as Senior Vice President and Chief Financial Officer after serving as President and Chief Financial Officer at PBH Marine Group, LLC, another company owned by Platinum Equity."David is a seasoned executive with a strong financial background and a deep understanding of business operations," comments Mr. Kelln. Louis Samson further added: "Having worked closely with David for over two years we know he is extremely capable and will be a strong asset to ACL's management team."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 American Commercial LinesAmerican Commercial Lines is an integrated marine transportation service company owned by Platinum Equity and operating in the United States Jones Act trades. The Company is headquartered in Jeffersonville, IN, has approximately 2,400 employees and operates a fleet of approximately 130 tow boats and 2,400 barges. The Company is the direct parent of Commercial Barge Line Company. For more information about American Commercial Lines, Inc. visit www.aclines.com.
Schutt Sports Sponsors Texas High School Coaches Association 2011 All-Star Games
Home / News / Schutt Sports Sponsors Texas High School Coaches Association
Dallas,TX – Schutt Sports, a Platinum Equity company, is sponsoring the Texas High School Coaches Association (THSCA) 2011 All-Star Games this week, as the "Official Football Helmet" and platinum partner of the program."Texas is home to some of the most storied high school football groups in the country, and we are proud to support them each and every year," Marketing Communications Manager Glenn Beckmann said. "THSCA isn't just any program. It's the largest organization of its kind in the world, and growing all the time – who wouldn't want to be part of that? We value our partnership and appreciate the access we have to all the incredible coaches and players."The THSCA was formed in 1930, and has maintained its mission to develop and educate Texas high school coaches so that they may better help serve student athletes. It has grown from 28 members to over 20,000.Schutt Sports is the largest maker of football helmets in America, with more than 55 percent market share across the youth, collegiate, and NFL markets combined."Both Schutt and THSCA have grown significantly over time, and we will continue to move forward together in years to come," Beckmann said.
MegaPath One of North America's Top Hosted Voice Providers
Home / News / Megapath One Of North Americas Top Hosted Voice Providers
Platinum Equity portfolio company MegaPath was listed among the Top 10 hosted VoIP providers by Infonetics, an international communications market research and consulting firm. Client install base, service capabilities, and customer support are among the parameters considered by Infonetics in recognizing top firms.Commenting on the diverse Top 10 list, Infonetics analyst Diane Myers said, "The most critical factors for success remain financial stability, proven experience, and quality service and support.""This recognition from Infonetics is a testament to the value our services deliver," said Dan Foster, President of Business Markets for MegaPath. "We will continue to raise the bar for what businesses can expect."Megapath operates one of the largest end-to-end communications networks in the United States. In 2010, Platinum Equity merged Megapath with Covad and Speakeasy to better serve small- and medium-sized businesses with data, voice, and security services. Megapath's hosted voice solution was recently recognized as the Internet Telephony 2010 Product of the Year.Read Full Article »
Platinum Equity Company International Offshore Services Selects MarineCFO
Home / News / Platinum Equity Company International Offshore Services
New Orleans, LA—MarineCFO Inc., the leading provider of Marine Software including On-Vessel, Marine Operations, Personnel, Fleet Maintenance, and Financial Management Software Solutions to the Marine Transportation Industry, announced today that Platinum Equity Company, International Offshore Services, has chosen to implement the full MarineCFO Enterprise software suite.International Offshore Services, LLC was formed in 2006 by combining International Marine (started in 1996) and International Construction Group. Through its wholly-owned subsidiaries International Offshore Services provides a comprehensive range of offshore services including construction barges and offshore support vessels. International Offshore Services employs over 450 individuals, has the largest number of utility boats in the Gulf of Mexico, and is headquartered in Larose, LA."We are committed to leveraging technology to improve operating data and control across all of our business segments," said Richard Currence, CEO of International Offshore Services. "After reviewing the market, MarineCFO was the clear choice for International Offshore Services. We chose MarineCFO Enterprise because it is a flexible, yet robust, platform that can handle the differing aspects of our business and has the ability to grow as our business grows.""Whether it is in our boat business or marine construction business we see technology as a means to better serve our clients." added Currence. "During the decision process, MarineCFO demonstrated that they have the software and the experienced team to make our project successful.""We are pleased International Offshore Services selected MarineCFO as their technology partner," said Joe Galatas, President of MarineCFO Inc. "International Offshore Services is an organization that embraces the use of technology to improve their operational efficiency in their business. The MarineCFO Enterprise software suite will not only provide International Offshore Services with a comprehensive solution, but also a solution that can be tailored to their specific needs."About MarineCFO, Inc.MarineCFO is the leading provider of Marine Software, including On-Vessel, Marine Operations, Personnel, Fleet Maintenance, and Financial Management Software Solutions to the Marine Transportation Industry. MarineCFO solutions are scalable from the largest industry players to small, family-run companies. MarineCFO provides MarineCFO Enterprise, a comprehensive behind the fire-wall solution, and MarineCFO Live!, an on-demand, web-based solution.
Acument Global Technologies Hiring In Fenton, MI
Home / News / Acument Global Technologies Hiring In Fenton Mi
Acument Global Technologies, a Platinum Equity portfolio company, has completed its plans to invest $5.1 million to expand its facilities in Fenton, Grand Blanc Township, and Sterling Heights, Michigan. The effort will generate about 150 jobs and establishes Acument's commitment to Michigan workers.Articles on mlive.com, Flint on Full, and Tri-County Times (subscription) cover the reopening of Acument's Fenton facility, which was a manufacturing center, was shuttered in 2009 at the height of the recession. The reopened plant will function as Acument's North American Processing and Technical Center. The Center includes a full laboratory and equipment. A previously outsourced zinc electroplating line is scheduled to start up at the Fenton facility along with a wastewater treatment plant required for the process.Acument has created 88 new jobs in the state of Michigan, including 70 at the Fenton facility. Over a three-year period Acument expects to create 150 jobs at the Fenton facility. Globally, Acument employs about 2,300 workers throughout North and South America."We're very fortunate that they chose Michigan and they chose Fenton, Michigan. It's just another positive step in Acument's plans" Tim Herman, Genesee Regional Chamber of Commerce CEO, told mlive.com.
KEMET Leverages Virtela's Award Winning Application
Home / News / Kemet Leverages Virtelas Award Winning Application
To speed access to business-critical applications for its 11,000 employees, Platinum Equity portfolio company KEMET Corporation announced it will use cloud acceleration services from Virtela."With could-based application acceleration, we've experienced significant reductions in our application response times overall and we have been able to postpone bandwidth increases in many cases," said Brian Burch, senior director of worldwide infrastructure for KEMET. "It has led to higher productivity and a higher return on investment, since we do not have to deploy and manage dedicated appliances at all of our branch offices around the world."The only cloud platform purpose-built for enterprise networking, security, and mobility, Virtela ESC features open architecture and accesses Vitrela's 50 local cloud centers to accelerate applications near the content source.KEMET is a leading manufacturer of capacitors for myriad applications. Its products include tantalum, ceramic, aluminum, film, paper, and electrolytic capacitors.Full Press Release »
SDUT Takes 10 Top Honors at Local SPJ Awards
Home / News / Sdut Takes 10 Top Honors At Local Spj Awards
The San Diego Union-Tribune and its web site, SignOn San Diego, took home top awards at the Society of Professional Journalists annual county contest.The Union-Tribune won ten first-place awards for newspaper writing, including the top award for breaking news. SignOn San Diego took three awards, including the award for Best News Site.The Society of Professional Journalists (SPJ) includes broadcast, print, and online journalists as well as journalism educators and students. Above all, SPJ works to protect the First Amendment guarantees of freedom of speech and of the press.Read the full story »
