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Platinum Equity Closes $2.75 Billion Private Equity Fund
Home / News / Platinum Equity Closes 2 75 Billion Private Equity Fund
LOS ANGELES, CA (September 3, 2008) – Substantially exceeding its original target, Platinum Equity today announced the closing of a $2.75 billion leveraged buyout fund focused on acquiring businesses that can benefit from Platinum’s operational expertise and resources. Platinum launched fundraising with a target of $1.5 billion in committed capital, but strong investor demand and a rising tide of deal opportunities compelled the firm to increase the fund size to $2.75 billion for Platinum Equity Capital Partners II (“Fund II”). Fund I’s performance was at the top of its peer group worldwide. Alongside Fund II, Platinum has committed to make a substantial co-investment that will increase the new fund’s available capital to well over $3 billion. Separate from Fund II, the firm continues to control a multibillion-dollar asset base comprising both predecessor fund and Platinum legacy investments. “We are very pleased with the response from investors and appreciate their support,” said Tom Gores, Chairman and CEO of Platinum Equity. “We hope to be just as successful with this new fund as we have been in the past, but this is no time for us to rest on our track record,” Mr. Gores said. “We need to remain smart and vigilant, and we intend to do so. We will continue to take good care of the assets our partners have entrusted us to invest on their behalf. “Our hands-on approach to operations works especially well in the current economic climate,” Mr. Gores added. “Our success in reacting to changing market conditions has always differentiated us.” Platinum’s M&A&O® approach to investing focuses on acquiring businesses that need operational support to realize their full potential and can benefit from Platinum’s extensive in-house capabilities and expertise in transition, integration and operations. Through nearly 100 acquisitions in the complex operational turnaround market, the firm has a consistent record of value creation. “We presented a stellar track record that was among the best in the world and created strong demand from investors,” said Mark Barnhill, the Platinum principal responsible for the firm’s capital raising and investor relations. “In this economy certain simple things resonate,” Mr. Barnhill said. “Institutional investors are looking for a strong investment team with a differentiated strategy and a proven ability to create value under both good and adverse conditions. We’ve worked hard to deliver all of those things.” Investors in the new fund include a diverse cross-section of public and private pension funds, financial institutions, university endowments and trusts in North America, Europe and Asia. Platinum’s current operations portfolio comprises 22 operating companies in a broad array of business markets, including information technology, telecommunications, logistics, chemical manufacturing, steel and metals services, industrial fastening systems and automotive products. Fund II has already made several investments. Notable Fund II acquisitions include Ryerson Inc., one of the largest metals service center operators in North America, acquired in a public-to-private transaction valued at approximately $2 billion; Covad Communications, a leading provider of voice and data communications products and services; 3B the Fibreglass Company, formerly Owens Corning’s composite materials manufacturing facilities in Battice, Belgium and Birkeland, Norway; and Maxim Crane, a crane equipment rental and services provider serving the non-residential construction market in North America. On Aug. 4, Platinum divested PNA Group, a national steel service center business, to Reliance Steel & Aluminum Co. in a transaction valued at approximately $1.1 billion. PNA was a Fund I investment. Citi acted as placement advisor and Simpson, Thacher & Bartlett LLP acted as legal advisor for the private placement of the Limited Partnership interests in Fund II. About Platinum Equity Platinum 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 nearly 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.
Platinum Equity Completes Sale of PNA Group
Home / News / Platinum Equity Completes Sale Of Pna Group
LOS ANGELES (August 4, 2008) – Platinum Equity announced today that it has completed the sale of portfolio company PNA Group, a leading processor and distributor of metals products, to Reliance Steel & Aluminum Co. (NYSE:RS) in a transaction valued at approximately $1.1 billion.The divestiture transaction was previously announced in June. Platinum acquired PNA Group in May, 2006 and created substantial value in the business through a combination of operational initiatives and add-on acquisitions. PNA’s revenue in 2007 was approximately $1.6 billion, up from approximately $1.2 billion in annual revenue when Platinum acquired the business.“PNA’s extraordinary value today is a reflection of strong leadership, hard work and an unrelenting focus on operational excellence,” said Tom Gores, Chairman and CEO of Platinum Equity. “PNA was an outstanding investment for Platinum and our investors, and will be a valuable asset to Reliance Steel & Aluminum.”In divesting the business, Platinum executives said their success with the PNA investment demonstrates the importance of a hands-on operational approach in the current economic environment.“This environment demands real hands-on operational skills,” said Jacob Kotzubei, the Platinum partner who led the PNA transaction. “You can’t leverage your way out of a problem, or rely on financial engineering to create a higher exit multiple. You have to be able to roll up your sleeves, execute on the ground to improve operations in a comprehensive way, and implement a growth strategy that creates real enterprise value. Platinum has the resources and the track record to execute that kind of operational strategy, and this investment, among others, demonstrates the success of that model.”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 entrepreneur Tom Gores, Platinum Equity has acquired more than 80 businesses with more than $27.5 billion in aggregate revenue at time of acquisition.
Maxim Crane Works Announces Completion of Merger with Platinum Equity
Home / News / Maxim Crane Works Announces Completion Of Merger With
PITTSBURGH, July 2 /PRNewswire-FirstCall/ -- MAXIM CRANE WORKS HOLDINGS, INC. (OTC: MXMC.PK - News; "Maxim Crane") today announced that affiliates of Platinum Equity Capital Partners II, L.P. ("Platinum Equity") have completed the acquisition of Maxim Crane pursuant to the terms of the Merger Agreement it entered into on May 5, 2008. As part of the transaction, Platinum Equity acquired all of the outstanding shares of Maxim Crane for $42.50 per share. The Merger was approved at a Special Meeting of Stockholders on June 11, 2008.“Maxim Crane is the largest crane rental company in the world and a dominant player in its markets” said Louis Samson, the Platinum Equity principal who led the acquisition. “We are excited about Maxim Crane’s potential and look forward to partnering with a terrific management team on a strategy that will continue to drive the growth of the business”, Mr. Samson said. “We intend to support an aggressive acquisition program and play a significant role in the consolidation of this industry”.Commenting on the acquisition, Art Innamorato, Maxim Crane‘s Chief Executive Officer, stated, “We are very pleased to partner with Platinum Equity as we enter the next chapter in Maxim’s forty year history”. “Maxim Crane will continue to lead the industry in comprehensive crane and lift solutions” Mr. Innamorato said. “My management team looks forward to the execution of a strategic plan that will create value organically and via strategic acquisitions”.The Board of Directors was advised by Goldman, Sachs and Co. and Latham & Watkins LLP. Platinum Equity was advised by Wachovia Securities and Bingham McCutchen LLP. In connection with the transaction, Maxim Crane entered into a $500 million asset-based revolving credit facility, which was underwritten by Wachovia.About Maxim Crane: Maxim Crane, the nation's leading coast-to-coast, full-service crane rental and lift services company, currently operates over 35 branch offices in six regions. Maxim Crane specializes in the provision of cranes and other ancillary equipment. With Maxim Crane's expansive resource network, each branch has the capability to provide management, rigging engineering and outsourcing, making Maxim Crane's product and service offerings the most comprehensive in the industry. More information about Maxim Crane can be found on the company's website at www.maximcrane.com.About Platinum Equity: Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specialized 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, manufacturing, metals services and distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has completed more than 80 acquisitions with more than $24 billion in aggregate annual revenue at time of acquisition.Contact:Maxim CraneJoe Vaccarello(412) 504-0200
Platinum Equity Signs Agreement to Sell PNA Group
Home / News / Platinum Equity Signs Agreement To Sell Pna Group
LOS ANGELES (June 17, 2008) – Platinum Equity announced today that it has signed a definitive agreement to sell PNA Group, a leading processor and distributor of steel products, to Reliance Steel & Aluminum Co. (NYSE:RS) in a transaction valued at approximately $1.1 billion. The transaction is expected to be finalized within the next 60 days, subject to normal closing conditions including regulatory approval. Platinum acquired PNA Group in May, 2006 and created substantial value in the business through a combination of operational initiatives and add-on acquisitions. PNA’s revenue in 2007 was approximately $1.6 billion, up from approximately $1.2 billion in annual revenue when Platinum acquired the business. “We knew the business had enormous potential when we acquired it, and we were convinced that with strong leadership and the right operational focus, we could turn a good company into a great one,” said Tom Gores, Chairman and CEO of Platinum Equity. “We were fortunate to get Sandy [Nelson, CEO of PNA] to join us in this investment, and he and the entire PNA team helped us deliver on that promise. We look forward to Reliance Steel & Aluminum’s continued success with the business.” PNA Group processes steel and distributes it to fabricators, manufacturers and distributors, primarily in the United States. The company comprises several independent business units, each of which process and distribute to customers a variety of metal products including steel structural beams, channels, tubes and plates; coiled and rolled steel; and other structural steel products. Reliance Steel & Aluminum, based in Los Angeles, said the acquisition of PNA Group would complement its existing business and enhance its customer offerings. Platinum Equity executives said that while the firm does not disclose individual investment returns, the PNA Group investment has been very successful for Platinum and its institutional investors. “PNA has been a terrific investment for us from a return standpoint,” said Jacob Kotzubei, the partner who led the PNA investment. “It’s also proven to be a great example of our approach in identifying companies that need operational support to reach their full potential, and then unlocking value through a combination of both operational initiatives, add-on acquisitions and strong partnership with the management team.” Following the acquisition of PNA in May 2006, Platinum completed three add-on acquisitions that bolstered and expanded the company’s capabilities, acquiring Metals Supply Co., Precision Flamecutting and Steel, and Sugar Steel. Each of those acquisitions complemented operational initiatives underway inside the main PNA platform, Mr. Kotzubei said. PNA Group and its add-on acquisitions are among several successful industrial and metals services acquisitions Platinum Equity has made over the past three years, including: - In December 2005 the firm acquired ESM Group, which provides a variety of products and services to the steel industry, including desulphurization and secondary metallurgy services, caster segment maintenance, equipment design and manufacture. The seller was Degussa AG, a global specialty chemicals manufacturer based in Germany. After reorganizing the business and establishing it as a strong standalone company, Platinum sold ESM Group to a strategic acquirer, SKW Metallurgie, in October 2007. - In October 2007 the firm acquired Ryerson Inc., one of the largest metals service center providers in North America with revenue of approximately $6 billion. The Ryerson business is currently involved in the normal post-acquisition operational transition into the Platinum Equity portfolio. Legal advisers to Platinum Equity on the sale of PNA Group to Reliance Steel & Aluminum were James W. Loss and Todd Hentges of Bingham McCutchen. Financial advisers to Platinum Equity were Citi, Goldman Sachs & Co. and UBS Investment Bank. About Platinum Equity Platinum 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 entrepreneur Tom Gores, Platinum Equity has acquired more than 80 businesses with more than $24 billion in aggregate revenue at time of acquisition.
Platinum Equity Integrates American Racing, Wheel Pros
Home / News / Platinum Equity Integrates American Racing Wheel Pros
Leading High Performance Wheel Brands Are United in Single Powerhouse CompanyLOS ANGELES (May 9, 2008) – Platinum Equity announced today the integration of American Racing and Wheel Pros, two leading distributors of high performance wheels and tires to the automotive aftermarket.The combined company will offer a comprehensive portfolio of wheel products comprising the industry’s best known and most enduring wheel brands, including the full lineup of existing American Racing and Wheel Pros products.“This is an incredibly powerful combination that unites two of the best names in the business,” said Rob Joubran, partner at Platinum Equity. “The pedigree of these two companies is unparalleled. Bringing them together under one roof will provide customers one-stop access to the best brands in the industry.”Randy White, a former American Racing executive who co-founded Wheel Pros in 1994, has been named Chief Executive Officer of the new company. Jody Groce, also a co-founder of Wheel Pros, has been named President.“This merger brings together two leading companies that deliver world-class products and services,” Mr. White said. “Together, we have more than two dozen brands and programs serving 25,000 customers in over 30 countries on six continents.”“Our customers will now have access to a single provider with an exceptional inventory of in-demand wheel products, a larger and more capable distribution network, and a diversity of product choices that represent the best-known wheel brands in the industry,” he said.The integrated distribution company will operate under the Wheel Pros name in the United States, and as American Racing overseas. It will continue to distribute product brands currently offered by the two companies, including:Wheel Products:- American Racing- American Racing Pro Series- American Racing Vintage- American Racing ATX Series- Alba- Asanti- Autocouture- Boyd Coddington Wheels- Carroll Shelby Legend Series- Dale Earnhardt Jr. Signature Series- Diamo- Dropstars- Helo- Ice Metal- KMC Wheels- Lexani- Lorenzo- Motegi Racing- Moto Metal Custom Alloys- OE Creations- Poison Spyder Customs- QT- Twenty Inches Strong- Venti and Venti Plus- Weld Racing- XD SeriesTire Products:- BFGoodrich- Falken- Michelin- Nitto Tire- Pirelli- Sumitomo TirePlatinum Equity acquired American Racing, the largest manufacturer and distributor of high performance aftermarket automotive wheels in North America, in July 2005. The firm acquired Wheel Pros, a leading competitor in the space, in March 2008.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 80 acquisitions with more than $24 billion in aggregate annual revenue at the time of acquisition.
Platinum Equity Completes Acquisition of Composite Manufacturing Plants in Belgium and Norway
Home / News / Platinum Equity Completes Acquisition Of Composite
LOS ANGELES (May 1, 2008) – Platinum Equity announced today that it has completed the acquisition of Owens Corning’s composite manufacturing plants in Battice, Belgium and Birkeland, Norway, as well as intellectual property and business assets related to those facilities. The plants manufacture and sell composite materials that are used to strengthen and lighten components and parts in the automotive, wind energy, electronics and consumer goods industries, among others. Owens Corning sold the facilities to address regulatory concerns associated with its acquisition of Saint-Gobain’s reinforcements and composite fabrics businesses. The sale of the Battice and Birkeland plants implements required European Regulatory remedies. “We were very pleased to provide a divestiture solution to Owens Corning, which needed a transaction partner capable of moving quickly and efficiently on a complex transaction,” said Brian Wall, partner at Platinum Equity who supervised the acquisition. “We were able to deliver the operational acumen and the financial resources necessary to win regulatory approval and execute the transaction,” Mr. Wall said. “We’re now focused on an efficient transition that we expect to be seamless from a customer service standpoint.” Mr. Wall said that Platinum would operate the plants as a standalone business with an eye toward growth both organically and through add-on acquisitions. The company’s new name and other details of the transition will be announced as the transition unfolds. “We have substantial manufacturing experience, and we’ve been able to identify numerous opportunities in the dynamic composites market,” Mr. Wall said. “We are very confident the new company can thrive and grow as a leader in this space. “We are looking forward to working together with the management team and employees of the plants, as well as customers and vendors, to create additional value through Platinum’s unique operations-focused approach,” Mr. Wall said. About Platinum Equity Platinum 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 80 acquisitions with more than $24 billion in aggregate annual revenue at the time of acquisition. Contact: Mark Barnhill, Platinum Equity (310) 228-9514 mbarnhill@platinumequity.com
Platinum Equity Completes Acquisition of Covad Communications Group, Inc.
Home / News / Platinum Equity Completes Acquisition Of Covad
LOS ANGELES and SAN JOSE, CA (April 15, 2008) – Platinum Equity announced today it has completed the acquisition of Covad Communications Group, Inc., a leading national provider of integrated voice and data communications. The total value of the transaction is approximately $470 million.The acquisition was a public-to-private transaction in which an affiliate of Platinum Equity acquired all outstanding shares of Covad stock for $1.02 per share in cash. The company previously traded on the American Stock Exchange under the ticker symbol DVW.“Covad has been an innovator since the day it became the first enterprise to commercially deploy DSL in the United States,” said Johnny O. Lopez, partner for Platinum Equity. “We have high expectations for the company’s continued growth and market leadership.”The companies announced the planned acquisition in October 2007 and have spent the last several months obtaining the required regulatory and stockholder approvals.Covad owns and operates the largest national broadband network and is the only national facilities-based provider of data, voice, and wireless telecommunications solutions for small and medium-sized businesses. Covad is also a key supplier of high-bandwidth access for telecommunications services providers like EarthLink, AT&T, and Verizon Business. Covad services are currently available in 44 states and 235 major markets and can be purchased by more than 57 million homes and businesses.About CovadCovad is a leading nationwide provider of integrated voice and data communications. The company offers DSL, Voice Over IP, T1, broadband wireless, Web hosting, managed security, IP and dial-up, and bundled voice and data services directly through Covad's network and through Internet Service Providers, value-added resellers, telecommunications carriers and affinity groups to small and medium-sized businesses and home users. Covad broadband services are currently available across the nation in 44 states and 235 Metropolitan Statistical Areas (MSAs) and can be purchased by more than 57 million homes and businesses, which represent over 50 percent of all US homes and businesses. Corporate headquarters is located at 110 Rio Robles San Jose, CA 95134. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com.About Platinum EquityPlatinum Equity (www.platinumequity.com) is a global M&A&O® firm specialized 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, software, telecommunications, logistics, manufacturing, metals services and distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has completed more than 75 acquisitions with more than $23 billion in aggregate annual revenue at time of acquisition.
Thomas W. Ehardt Appointed CEO of Advogent Group
Home / News / Thomas W Ehardt Appointed Ceo Of Advogent Group
PISCATAWAY, NJ (January 30, 2008) – Thomas W. Ehardt, a senior executive with more than 25 years experience leading healthcare marketing and education businesses, has been named Chief Executive Officer of the Advogent Group.Advogent, a Platinum Equity company, provides communications and educational solutions to the pharmaceutical, biotechnology and medical device industries, including publication planning, healthcare communications, event management logistics, compliant data systems and strategic outsource solutions.“Tom is an experienced professional with a strong track record for acquiring, integrating and operating medical information and publishing companies,” said Rob Archambault, the partner at Platinum Equity who oversees the Advogent investment. “His leadership will help Advogent expand its capabilities and service performance in the market.”Mr. Ehardt said he is committed to building Advogent into the leading communications solutions provider to the healthcare industry.“Under Platinum Equity, Advogent has developed a strong suite of communications products and services for the healthcare industry, including publication planning, strategic content development, innovative message delivery solutions and compliant promotional program management,” Mr. Ehardt said.“The company will continue to invest in its event planning technology and innovative message delivery solutions to provide compliant and cost-effective communications alternatives for the pharmaceutical and biotech industry,” he said. “I’m very excited to lead the company in its next stage of growth and development.”Since 2005, Mr. Ehardt has been chief executive officer of The Jobson Publishing Group, which produces information products, publications and educational programs for communicating the latest clinical findings and clinical technology developments to healthcare professionals. Between 2001 and 2005, he was senior vice president and chief operating officer of Jobson Publishing LLC.Previously, he served in a variety of leadership roles for The Thomson Corporation, including vice president of finance for Thomson’s Scientific, Reference and Healthcare Group; and vice president and chief financial officer for Thomson’s Medical Economic Company.Prior to that, he held executive leadership positions with Hercules Corporation, Transway Corporation and Penn Central Corporation. Mr. Ehardt has a Bachelor’s degree in business administration from Pace University in Pleasantville, NY, and a Master’s in Business Administration from Long Island University.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 acquired more than 75 businesses with more than $23 billion in aggregate annual revenue at the time of acquisition.
Ryerson
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Ryerson Download Factsheet Public to Private Transaction Active North America Industrials Metals and Mining Leading industrial processor and distributor of metals with global operations in North America, China and Brazil Company Overview Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842 and celebrating its historic 180th anniversary in 2022, Ryerson has approximately 100 locations. Transaction Description Acquired in October 2007 Years in Business 180 227 W. Monroe Street, Suite 27, Chicago, IL 60606 United States www.ryerson.com Leading industrial processor and distributor of metals with global operations in North America, China and Brazil Company Overview Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842 and celebrating its historic 180th anniversary in 2022, Ryerson has approximately 100 locations. Years in Business 180 Transaction Description Acquired in October 2007 227 W. Monroe Street, Suite 27, Chicago, IL 60606 United States www.ryerson.com Photo Gallery Previous Next × × × × × × 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
Platinum Equity Completes Acquisition of Ryerson Inc.
Home / News / Platinum Equity Completes Acquisition Of Ryerson Inc
Takes Company Private in Transaction Valued at Approximately $2 BillionLOS ANGELES (October 19, 2007) – Platinum Equity announced today that it has completed the acquisition of Ryerson Inc., one of the largest metal service centers in North America with annual revenue of approximately $6 billion.The acquisition was a public-to-private transaction in which Platinum acquired all outstanding shares of Ryerson stock for $34.50 per share. The company previously traded on the New York Stock Exchange under the ticker symbol RYI.“Ryerson has a great history and also great potential,” said Tom Gores, chairman and chief executive officer of Platinum Equity. “Over the last several months our operations team has been working with Ryerson personnel on a renewal plan to help the company build value. We are very excited about its future."Founded in 1842, Ryerson provides its 40,000 customers with a diverse array of products including carbon, stainless and aluminum. It has facilities in the U.S. and Canada and joint ventures in China, India and Mexico. The company, formerly known as Ryerson Tull Inc., generated $5.9 billion of revenue in 2006, shipping more than 3.5 million tons of product throughout North America.Ryerson shareholders approved the acquisition on Wednesday. Platinum executives said they would launch an immediate transition focused on operational improvements that will improve customer service and the overall performance of the business.Platinum also owns PNA Group, another metals service center group in the North American metal services market with more than $1.5 billion in annual revenue. “We have a good understanding of the metals service center sector, and are very confident that Ryerson will continue to thrive and grow as a leader in this space,” said Jacob Kotzubei, the partner who led the deal team. “We are looking forward to working together with the team at Ryerson, as well as its customers and vendors, to create additional value through Platinum’s unique operations-focused approach,” Mr. Kotzubei said.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, manufacturing, and entertainment distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 75 acquisitions with more than $23 billion in aggregate annual revenue at the time of acquisition.Contact:Mark Barnhill, Platinum Equity(310) 228-9514mbarnhill@platinumequity.com
