McGraw Hill Acquires Boards & Beyond, On-Demand Video Platform for Medical Students

Home / News / Mcgraw Hill Acquires Boards Beyond On Demand Video Platform For Medical Students

Acquisition expands McGraw Hill’s position as a leading provider of trusted medical learning resources to students and professionalsCOLUMBUS, Ohio (December 6, 2022) – McGraw Hill today announced that it has acquired Ryan Medical Education LLC, d/b/a Boards & Beyond, a provider of on-demand video libraries and comprehensive online resources that help medical students efficiently learn fundamentals of medical basic sciences and clinical medicine.The acquisition expands McGraw Hill’s digital capabilities and deep presence in the medical education sector, supplementing the company’s authoritative, trusted content and powerful digital platforms with Boards & Beyond’s dynamic, video-driven instruction and high-quality assessment content.Medical students and professionals already rely on McGraw Hill for learning content throughout their education journeys and careers. McGraw Hill resources like Harrison’s Principles of Internal Medicine and its AccessMedicine digital subscription services are used by millions of clinicians worldwide.“Boards & Beyond’s cutting edge online learning resources are an ideal complement to McGraw Hill’s expansive suite of medical learning tools,” said Scott Grillo, President of McGraw Hill’s Global Professional group. “Combining the strengths of both organizations will create a complete, well-rounded offering for students at critical junctions in their medical education careers with digital-first resources that are aligned with how today’s students learn. We’re excited to welcome the talented team at Boards & Beyond to McGraw Hill.”“We’re thrilled to become part of the McGraw Hill family and join such an iconic, trusted brand that is synonymous with high-quality content and allows us to significantly expand our reach through longstanding partnerships with medical institutions around the world,” said Dr. Jason Ryan, CEO and Founder of Boards & Beyond.McGraw Hill is a portfolio company of Platinum Equity. Boards & Beyond is McGraw Hill’s second acquisition since Platinum Equity acquired the company in 2021.“We are delivering on our promise to help McGraw Hill accelerate its digital transformation in core markets like healthcare,” said Platinum Equity Partner Jacob Kotzubei and Platinum Equity Managing Director Matthew Louie in a joint statement. “We will continue working with the team and providing the resources the company needs to pursue more opportunities to drive growth organically and through acquisitions."McGraw HillMcGraw Hill is a leading global education company that partners with millions of educators, learners and professionals around the world. Recognizing their diverse needs, we build trusted content, flexible tools and powerful digital platforms to help them achieve success on their own terms. Through our commitment to equity, accessibility and inclusion, we foster a culture of belonging that respects and reflects the diversity of the communities, learners and educators we serve. McGraw Hill has over 40 offices across North America, Asia, Australia, Europe, the Middle East and South America, and makes its learning solutions for PreK-12, higher education, professionals and others available in more than 80 languages. Visit us at mheducation.com or find us on Facebook, Instagram, LinkedIn or Twitter.

New Securus Originals’ Podcast Inspires Incarcerated Individuals to Focus on Building a Second Chance Beginning Day One of Incarceration

Home / News / New Securus Originals Podcast Inspires Incarcerated Individuals To Focus On Building A Second Chance Beginning Day One Of Incarceration

The “Day One with Andre Norman™” podcast is the most recent addition to Securus Technologies’ growing catalog of free restorative content for the incarcerated DALLAS, TX – Securus Technologies, an Aventiv company driving efforts to better serve the incarcerated through rehabilitative justice, today announced the availability of a new 12-episode podcast series on Securus Originals, titled “Day One with Andre Norman.” Created and hosted by Andre Norman, who turned his life around from prison gang leader to international speaker and Harvard fellow, Norman’s guests illustrate how the first days, weeks, and months of incarceration can be instrumental to a successful reentry. Each episode shares stories of formerly incarcerated individuals and how they made the best of their time behind the walls to create a real opportunity for a changed life following incarceration. The podcast series is available for free to incarcerated individuals who have access to the Securus tablets and free to the public on the Securus YouTube channel, Spotify, Amazon Music, and the Apple podcast store. “Day One with Andre Norman” stands out not only because it was created by a formerly incarcerated individual, but also because the podcast features guests who were previously incarcerated speaking to a currently incarcerated population. Each episode offers guidance for the incarcerated to change their thinking and set themselves on a positive path beginning their first day in a facility. This is an extension of Securus’ broader commitment to support the incarcerated as they build skills and resilience for a better future. “The first thing people feel when they are incarcerated is hopelessness. Having been there myself, I understand the redemptive power of second chances and that time waits for no one, so the rehabilitative journey needs to start today,” said Norman, recalling his own 14-year journey in a correctional facility and the life he created for himself after his release. “This podcast is designed to inspire individuals across the country to take charge of their own rehabilitation, right now – not later, by hearing the stories of others who were behind bars but chose action over excuses.” Beginning December 1, 2022, a new 45-minute episode will be released every Thursday over 12 weeks, which will add to the growing catalog of free education and reentry content provided through Securus. The podcast’s first guest is Jule Hall, an education advocate, speaker, and one of the spotlight characters on the Emmy-nominated Netflix documentary “College Behind Bars.” Hall is a fierce advocate of gaining an education while incarcerated and began that journey when he was just 17 years old. When Norman asked him what the first thing someone should do when they arrive at a correctional facility, Hall’s answer was to start reading. “I really built my identity from day one in prison based on education. It was something I knew I was capable of that had slipped from me, and I knew it was something that would help me breathe,” Hall said, adding that reading was the key to that process. “I really allowed myself to go to a place of mental growth through books, which led my path to getting my education from one of the top 10 colleges in the nation.” Additional guests featured on the “Day One with Andre Norman” episodes include: Real estate entrepreneur Jennifer Rodgers, president of the National Association of Women’s Reform who regularly participates in government-sponsored prison public speaking tours Minister Stephanie Reed, who is a social activist and the sister of rapper DMX Donk, a pastor and father of five from Louisiana who was charged with murder at age 15 Antong Lucky, who leads the Urban Specialist Organization, coaches at Heal America, and serves as a board member for the Stand Together Foundation which donates millions to young entrepreneurs Giant, who traces his journey from a life of incarceration to being on the path to mental and physical wellness since his release from Rikers Island 20 years ago Brent Burke, who manages a correctional facility in Ohio specializing in substance treatment Keidrein Brewster, who is a best-selling author who advocates for the incarcerated and serves as a reform specialist LaNay Harris, who was sentenced to 13-20 years in prison at the age of 17, made a promise to herself to focus on education, positive self-talk, and self-love while still incarcerated Kareemeh Hanifa, who earned parole after 26 years behind bars, acted as a tutor to many of her peers and now owns her own salon Idris Talib, a college graduate and real estate business leader, helped a record number of his peers earn their GED during his incarceration Dominic Williams spent a considerable amount of time in prison and now serves as Regional Director of the Academy of Hope “Our tablet platform has the power to bring voices of positive influencers into facilities on a massive scale to help inspire hope and belief in second chances – and that’s exactly what Andre’s latest podcast is doing,” said Dave Abel, President and CEO of Aventiv Technologies, the parent company of Securus. “We worked with Andre to create the “Day One with Andre Norman” series because we believe in the power of storytelling, which can enable transformative change for those in the incarcerated community. We hope the significance of making a change today – day one – resonates with people and will ultimately improve the outcomes for individuals after reentry.” “Day One with Andre Norman” is Norman’s second podcast for Securus Originals™. His first, “Second Acts with Andre Norman,” debuted in 2021 and featured conversations with the formerly incarcerated and their advocates about fundamental life skills like rebuilding finances, restarting a career, reinvigorating the mind and body, and reintegrating with family.

Deluxe Acquires Post Haste Digital To Further Scale Capacity For Owned Dubbing and Media Services As Growth in Local Language Content Continues

Home / News / Deluxe Acquires Post Haste Digital To Further Scale Capacity For Owned Dubbing And Media Services As Growth In Local Language Content Continues

LOS ANGELES, CA (November 30, 2022) – Deluxe, the global provider of cloud-based localization and distribution solutions to the world’s leading content production studios and distributors, announced today that it has acquired English Dubbing and Media Services Provider Post Haste Digital. The announcement was made by Chris Reynolds, Deluxe’s Executive Vice President and General Manager of Worldwide Localization and Fulfillment. With the backing of Platinum Equity, Deluxe has continued to focus on global expansion and investment in technology to provide enhanced service offerings to customers, and Post Haste represents the eighth acquisition Deluxe has made since Platinum Equity acquired the business in 2020. With the rise of local language production across the world, this acquisition provides Deluxe additional English dubbing capacity, as well as expanded mastering & audio services. Reynolds commented, “We are delighted to welcome the Post Haste Digital team to the Deluxe family. This acquisition enables us to expand our capacity to support our customers’ content and localization strategies with an established, highly talented team.” “I am very excited about Deluxe’s acquisition of Post Haste Digital. Having Deluxe’s global resources, we can provide an expanded service offering to our clients and increase capacity while maintaining quality expectations. I truly feel that this acquisition will have a positive impact in our industry.” said Allan Falk, Founder and CEO, Post Haste Digital. Founded in 2003, Post Haste Digital is a post-production company that provides English dubbing, audio and video mastering and servicing, and specialized technology and media services solutions to major content owners including: Netflix, Disney, Sony Pictures Entertainment, Warner Bros. Discovery and Amazon. Post Haste helped lead the industry’s English Dubbing expansion, dubbing more than 50 episodic series including Lupin, Fauda, El Presidente: Jogo de Corupcion, and Kiss Sixth Sense. The company is part of Netflix’s Post Partner Program (NP3) for Audio Localization and is Dolby-Vision and Atmos certified. Deluxe currently has dubbing studios in Los Angeles, Paris, Madrid, Barcelona and Hamburg, and is eager to expand its North American presence with this acquisition. Post Haste has three operating facilities in Los Angeles and Burbank featuring five dedicated English dubbing recording rooms, a theatrical mixing stage, three near-field mixing stages (two Dolby ATMOS certified), six audio editing suites, three QC suites and two video editing suites. ABOUT DELUXE Deluxe Media Inc. (Deluxe) provides innovative, secure distribution and localization services for studios, streaming platforms, and content creators worldwide. Deluxe’s cloud-based solutions offer unprecedented flexibility and reach through its customizable, end-to-end solutions that enable customers to create, transform, and distribute content and immersive streaming experiences to audiences on a global scale. ABOUT PLATINUM EQUITY Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $36 billion of assets under management and a portfolio of approximately 50 operating companies that serves customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions, and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 27 years, Platinum Equity has completed more than 350 acquisitions. ABOUT Post Haste Digital Post Haste Digital opened its doors in 2003 as Post Haste Sound, assisting the major studios with their audio remastering and restoration needs. The company quickly evolved into a full-service post-production facility, re-branding itself as Post Haste Digital and has significantly expanded its services to include English Dubbing, Dolby Atmos mixing/remastering, subtitling, access services and post-production and finishing. CONTACTS Jamie Falkowitz-Tancredi / Falkowitz PR, Inc. Jamie@FalkowitzPR.com / (818) 606-2652

Nathan Eldridge

Home / Our People / Https://www.platinumequity.com/people/nathan Eldridge

Platinum Equity’s development of first-time mentorship program for Jalen Rose Leadership Academy called ‘beneficial’ for students

Home / News / Platinum Equitys Development Of First Time Mentorship Program For Jalen Rose Leadership Academy Called Beneficial For Students

For nine years, Platinum Equity has served as the presenting sponsor for the annual Jalen Rose Leadership Academy Celebrity Golf Classic, a major fundraising event for the public charter school located in the Detroit neighborhood of Rose’s youth.This year, in an effort to have more of an impact in the students’ lives, Platinum Equity introduced a new mentorship program for JRLA students the following day with the hope it will become an annual occurrence.The August event took place at the Detroit Pistons Performance Center, a building Platinum Founder and CEO Tom Gores, who owns the Pistons, called a place for the community to “come together” at the 2019 grand opening.After a tour of the facility, a motivational video featuring the words of Gores was shown for the students while they ate breakfast with a mentor from Platinum Equity or the Pistons organization.Afterward, Platinum Equity Principal Dan Whelan moderated a panel discussion featuring Platinum Partner John Diggins and executives Katie McNaughton and Vince Ellis, who both have ties to the Detroit area with Ellis based there. Whelan also grew up in nearby Ann Arbor. Pistons executives Arn Tellem and Alicia Jeffreys joined them.The panelists shared their career paths and gave insights into careers in private equity or professional sports. The idea is to establish solid mentorship relationships with students while exposing them to career paths they might not have considered.For at least one student, it was time well spent.“There's a lot of things I got out of it,” JRLA junior basketball player Ethan Dorsett said recently at the Pistons’ open scrimmage at Little Caesars Arena. “I learned about a lot of more things that I didn't know about, stuff that I could be good at, rather than just basketball. It’s about more than basketball and that helped me open my eyes to more choices.”Strong relationshipGores and his wife, Holly, have supported the school since its founding in 2011. At the golf outing, Rose recalled Platinum executives joining him on diligence trips to the JRLA campus shortly after the school opened.In 2013, Gores and his wife donated $250,000 to the JRLA. Starting the following year, Gores and Platinum Equity have served as presenting sponsors for the event. Rose easily recalls visits to the couple’s home in Los Angeles where they bonded over their shared Michigan upbringings. Gores is from the Flint area, while Holly is from Grosse Ile. They met at Michigan State University in East Lansing.“They've always been loving, caring, thoughtful, and trying to figure out ways that they can help and support,” Rose told Pistons.com in 2020. “The way he loves Flint and the way he knows Michigan State, for them to fly the JRLA flag in the same manner, it really means a lot to me.”Last year, Tom and his wife donated $1 million through the Tom Gores Family Foundation to the school’s plan for facility expansion and infrastructure improvements. The school doesn’t qualify for state funding for facilities.With consistent financial support in place, thoughts turned to establishing a more personal relationship with students.Platinum Equity brainstormed ideas and settled on a mentorship program, recognizing the important role access and early exposure to opportunity played in their own careers.“Platinum has proudly supported JRLA for many years, but we wanted to get closer to the students and directly support them by sharing our experiences and lessons learned,” McNaughton said. “I know for myself and many of us at Platinum, relationships and mentors helped get us where we are today. Tom is a huge advocate of mentoring so we thought that it was time to connect with the students on a personal level, share what we've learned and get to know them and hopefully add value as they map out their paths.”Needed supportThe day started when students and mentors gathered in a room overlooking the practice court for Pistons players. The group included 13 Platinum professionals from various departments, including the firm’s business development, M&A and marketing teams from Los Angeles and New York.Mentors were asked to bring an influential book to gift mentees. After a brief get-to-know-you period, Rose and Diggins started the morning and attendees were placed in individual groups to tour the PPC, which was constructed for $90 million and opened in 2019 as part of Gores’ decision to move the Pistons downtown to play in nearby Little Caesars Arena in 2017.Students visited every Pistons department with employees giving short explanations on responsibilities. When groups ventured into basketball operations, students were given access to state-of-the-art medical equipment along with office spaces with the latest amenities for front office personnel and coaching staff. Before entering the practice court, students walked through the training area and were surprised when they were greeted by Pistons star Cade Cunningham, the first overall pick of the 2021 NBA Draft who excelled as a rookie last season.Once on the court, students took shots and posed for pictures with mentors.After the tour, it was time for the panel discussion. Whelan asked Diggins to recall the early days before Platinum grew into the global firm it is now today. In his telling, Diggins emphasized the importance of one of Gores’ mantras, codified in Platinum Equity’s guiding principles: don’t be limited by other people’s perceptions of you.“Tom Gores had a saying when we first started up because there were times we weren't making money, we were getting kicked out of opportunities and everybody would (question our path),” Diggins said. “Tom would say it's riskier to not take the risk.“Don't be afraid to take risks, don't settle, not one person (on the panel) settled and they will never settle.”‘It shows how real Platinum Equity is’JRLA is tuition-free with open enrollment. In its 12 years, the school says 100 percent of graduates have been accepted into colleges or technical schools. Rose proudly boasts the relationship with students doesn’t end at graduation and the school has adopted a ‘9-16’model that provides post-secondary support services.It’s Ethan Dorsett’s first year attending JRLA after transferring from Detroit Cass Tech so the school is still new to his family. But Platinum Equity’s support of JRLA left a good impression with Dorsett’s father, Koron. Attending the scrimmage along with his son, he mentioned the book Ethan received, The Alchemist by Paulo Coelho.“The event was so beneficial to my son,” Koron Allen said. “The thing that impressed me the most was the book. No one's giving you a book to read these days. Me and my wife even agreed to get the book to read along with him.“It shows how real Platinum Equity is. It shows that they are part of us, and they are trying to help us get to wherever they may be at. They are showing us that we all the same; we just live at different addresses, that's all.”It’s clear Ethan hopes to make basketball a career, but his father, who works for Oakland (Mich.) County government, knows the odds are low. Platinum Equity providing exposure to the Pistons organization helps in showing there are multiple career paths in professional sports.“There's more than basketball for his future and education,” Koron Dorsett said. He is still talking about (the event), about how they told him he can be better, not just with basketball, but with his mind.”

Platinum Equity continues support of annual Malibu Triathlon to benefit Children’s Hospital of Los Angeles

Home / News / Platinum Equity Continues Support Of Annual Malibu Triathlon To Benefit Childrens Hospital Of Los Angeles

Megan Korte had an easy out. A few days before the Malibu Triathlon she was diagnosed with kidney stones. But Korte, who started at Platinum Equity over the summer in the Marketing Department, didn’t miss the triathlon as she ran the final leg of the mixed relay. “I don't give up easily and backing out of something that's charity-driven isn't really in my soul,” she said. “I have a background of volunteering and helping many different charities so it's something I love to do in my personal time. “It's seven weeks into a new company and you really want to get to know your co-workers and you learn why they do it as well. There were several different reasons why I wanted to do it and at the end of the day I'm so happy that I did, kidney stone or not.” After the event was cancelled the last two years because of the pandemic, Korte and other Platinum Equity executives and employees (63 participants and spectators across two days) were among more than 5,000 athletes to compete in the 37th Annual Malibu 2XU Triathlon in September. The event is a fundraiser for the Children’s Hospital of Los Angeles. This year’s event raised more than $1 million for the hospital’s pediatric cancer research center, and it also provided an opportunity to build camaraderie among Platinum Equity team members. “I think it's a great bonding experience,” Senior Vice President Katherine Sassine said at the post-triathlon brunch held at the Malibu home of Platinum Equity Founder and CEO Tom Gores and his wife, Holly. Sassine, who was hired in 2020 and competed for the first time, was proudly wearing the first-place medal she won as part of Platinum Team Crescent, the mixed relay team that competed during Sunday’s Classic competition. Sassine completed the running segment while Vice President Joe Cosentino led off with the swim and Senior Associate Alex Hewitt completed the cycling portion. “I was so happy when I found out that Platinum does an event like this,” Sassine said. “I think it's a great way to get all of the employees together.” How Platinum Equity’s participation began After moving to Malibu in 2015, Platinum Equity Partner Bryan Kelln was asked if he planned to participate in the beach town’s annual triathlon. Bryan was not familiar with the event and had never participated in a triathlon, but his passion for outdoor activity led him to register. It was the unofficial beginning of Platinum Equity’s support of the event and the children’s hospital. It is a two-day event with the tougher Olympic distance occurring Saturday; the Classic and Corporate Challenge events run on Sunday. The Olympic event is comprised of a 1.5-kilometer swim in the Pacific Ocean, a 40-kilometer bike ride on the Pacific Coast Highway and a 10-kilometer run on Zuma Beach. The following year, Kelln was joined by Managing Directors Christian Cook and Dori Konig. Cook laughs when recalling a very rough swimming experience which required lifeguards to rescue him from the Pacific Ocean. Despite the challenge, he finished the triathlon, which was a personal moment of satisfaction for Cook. He has rededicated himself to physical fitness, which is a focus of other Platinum Equity participants. “I'm down 20 pounds (since his first triathlon) and health and fitness has become a pretty big part of my life,” Cook said. “I've had members of my team drop weight, and really start taking better care of themselves. It’s easy to have the midlife crisis where you sort of let yourself go, but the event has been instrumental for a few people to get our acts together and at least have a bit of health and fitness in our lives. And the resulting camaraderie is an invaluable benefit.” Konig agrees. He recalls signing up for a Washington, D.C. 10K race when he was planning a business trip to the nation’s capital. Extra running is a part of the training regimen. “For me, I like inspiring team members to take better care of themselves, but the most important thing is having fun,” Konig said. Over the next several triathlons, the firm’s participation continued to grow, culminating in 2019 with more than 30 participants. To help increase Platinum Equity participation, the Portfolio Operations group started having its annual conference to coincide with the event. With employees in the area for the gathering, participation has grown, resulting in 25 of the 40 Operation team members participating in September. The Operations conference was held the following Monday at a Santa Monica hotel. ‘Competitive people are always looking for the next challenge’ After 12 Platinum Equity employees – which included Kelln, Cook and Konig – completed the Olympic event on Saturday, a rented bus arrived early the following morning to pick up participants for the ride to Malibu. The weather cooperated as it was a warm sunny day and there were no rip tides, but waves were strong. Distances are more manageable for the Classic distance (half-mile swim, 17-mile bike ride and a four-mile run). Corporations enter relay teams and in the case of Team Crescent, the name of the Sassine-Cosentino-Hewitt winning entry, it’s helpful to have experienced competitors. Cosentino was a water polo competitor at USC, Hewitt is an experienced cyclist and Sassine ran track and cross-country at Columbia University. Konig, Cook and Managing Director David Wolf joined forces to form the Platinum Warriors, who finished third in the men’s Classic relay race. The performances served as a reminder that the industry is fertile ground for competitive people, something that can be helpful in the workplace. “Having that competitive dynamic helps bring people together for a common cause,” Konig said. “What’s really interesting within the team is there are some athletic team members who work toward this throughout the year, but then you have first timers.” After the event, it was a festive scene for participants and family members at the Gores home. As food and drinks were served, a DJ played festive music with the Pacific providing the background setting. Kelln is hopeful that Platinum Equity can get its number up to 75 participants next year.  “I think competitive people are always looking for the next challenge, hoping to mix it up a little bit,” Kelln said. “I really enjoy setting goals to aim for. It's a big enough event where you can't just show up and be competitive without training. For me, having periodic challenges in the future provides me personally more motivation to get in shape and to take care of myself.”

How one educator’s use of McGraw Hill’s ALEKS technology helps her students succeed at math

Home / News / How One Educators Use Of Mcgraw Hills Aleks Technology Helps Her Students Succeed At Math

Four years ago, Cece Jacobs was a first-year junior high math teacher in an Arizona school district. As a young teacher, she was seeking ways to engage students in math. That’s when she started using ALEKS, an AI-driven online learning program from McGraw Hill, an education company acquired by Platinum Equity last year. “The beauty of the ALEKS program is how it adjusts to the student and their skill level,” Jacobs said. “So, I have some kids that will complete 40 lessons in three hours at home while some will do less than that, and it’s all based on their own learning path.” ALEKS, which stands for Assessment and Learning in Knowledge Spaces, offers course products for math, chemistry and statistics. The program helps educators and parents understand each student's knowledge and learning progress in depth, and provides the individual support required for students to excel. Founded in 1888, McGraw Hill provides education solutions like ALEKS to millions of students globally, delivering both curated content and digital learning tools and platforms to classrooms. Its products are distributed in more than 100 countries across the Americas, Asia-Pacific, Europe, India and the Middle East. “McGraw Hill is one of the most trusted names in education and has been delivering best-in-class content for more than 130 years,” Platinum Equity Partner Jacob Kotzubei said when the acquisition was announced. “The company is well positioned to help shape and facilitate the continued shift to digital taking place across the education landscape.” Today, McGraw Hill generates more than 60% of its revenue from digital products and services like ALEKS. ALEKS’ platform utilizes videos, tutorials, and problems for the individuals to engage in as a part of the learning process. In 2021, Jacobs was one of four teachers across the country that received an award for using ALEKS to improve the outcomes in their students, an issue that’s top of mind as millions of students return to in-person learning in September. The New York Times reported recently that the pandemic “erased two decades of progress in math in reading,” according to the results of the National Assessment of Educational Progress, a test administered to 9-year-olds. “The pandemic completely hurt the public education system and there are gaps that are bigger than we’ve ever seen before,” Jacobs said. Jacobs, who also coaches basketball and has since changed schools, uses ALEKS to differentiate instruction, support students with learning gaps, and meet her students where they are. ALEKS chief product officer Lori Anderson said the program acts as a guide for what each student is ready and able to learn next. “ALEKS is based on knowledge-based theory, which is a form of artificial intelligence that we built into the product to determine what students know and don't know,” Anderson said. “You can find that in any number of our competitive products, but what sets ALEKS apart for the student is that we guide the students to what they're ready to learn right now.” How it works   As sixth graders gather in Jacobs’ classroom during the first weeks of classes, initial assessments are given on ALEKS to see how each individual student is progressing. “The initial knowledge check is super fun because each student gets to see where they fall and in junior high most kids are more self-reflective in their schoolwork and know if they do well or struggle in math,” Jacobs said. Based on billions of interactions with the platform over the years and ALEKS’s mapping of math subjects, the software can make accurate decisions about what topics students are ready to learn next. “I can't sit with every student and teach them every topic so that's what ALEKS is doing; it's assisting me and getting them up to my level while I can still teach grade level content,” Jacobs said. Jacobs, who was one of four teachers recognized earlier this year for the usage of ALEKS, is known in her school for her creativity in keeping students engaged with ALEKS and with math. “I give out personal pies at the end of every quarter and it keeps all the kids involved in the game,” Jacobs said. “We made it a growth competition instead of a how much you know competition.”

Platinum Equity Acquires Majority Interest in Global Apparel Company Hop Lun

Home / News / Platinum Equity Acquires Majority Interest In Global Apparel Company Hop Lun

Investment in Hong Kong-based undergarment and swimwear company led by Platinum’s Singapore investment teamLOS ANGELES and SINGAPORE, September 30, 2022 — Platinum Equity announced today that the acquisition of a controlling stake in international apparel company Hop Lun from company founder Erik Ryd has been completed. Financial terms were not disclosed.Founded by Mr. Ryd in 1992 and headquartered in Hong Kong, Hop Lun is one of the world’s largest designers and manufacturers of undergarments and swimwear sold in the US, UK and EU.“We have gotten to know Erik very well over the past several years and have great respect for him as a person and as an entrepreneur,” said Jacob Kotzubei, the partner in Platinum Equity’s Los Angeles headquarters who oversees the firm’s Singapore-based team. “He is an inspirational leader who has instilled in Hop Lun a culture of trust, transparency, reliability and creativity that serves as the foundation for the company’s success.”The Hop Lun investment was led by Platinum Equity’s Singapore office.“There are many founder or family-owned businesses in Asia facing succession or other issues that need a partner who can not only provide capital, but also operational expertise,” added Mr. Kotzubei. “They are looking to create additional value while also protecting their legacy and setting up their business for a new stage of growth. We have a lot of experience in those situations and are excited to work alongside Erik and the Hop Lun team on the next step in their journey.”Mr. Ryd retained a significant stake in Hop Lun and will continue to help lead the business going forward.“I am proud of the business we have built over the last 30 years and am confident Platinum will help accelerate our success,” said Mr. Ryd. “Platinum’s financial and operational resources will be tremendously helpful, but more importantly their team shares our values and our vision for the future. I believe we are a perfect fit. Our teams have been hard at work collaborating on transformation initiatives and we expect a seamless and productive transition.” We have gotten to know Erik very well over the past several years and have great respect for him as a person and as an entrepreneur. He is an inspirational leader who has instilled in Hop Lun a culture of trust, transparency, reliability and creativity that serves as the foundation for the company’s success. Jacob Kotzubei, Partner, Platinum Equity Hop Lun employs more than 30,000 people and has manufacturing operations in Bangladesh, China, Ethiopia and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.“Hop Lun is an ideal platform with multiple ways to evolve and expand,” said Matthew Louie, managing director at Platinum Equity. “We expect to accelerate investments in growing the company, both organically and through strategic M&A.”“Hop Lun also has made an impressive commitment to ESG and is increasingly looking at new ways to partner with brands to bring more sustainable products to market,” added Mr. Louie. “The innovative use of sustainable fabrics and post-consumer recyclable materials will be an important priority for us going forward.”BDA Partners and Goldman Sachs & Co. served as financial advisors to Hop Lun on the sale to Platinum Equity. Mayer Brown LLP served as Hop Lun’s legal counsel.Latham & Watkins LLP provided legal counsel and Kirkland & Ellis LLP provided debt financing counsel to Platinum Equity on the acquisition of Hop Lun.For more discussion from the deal team about the Hop Lun investment: “How acquisition of apparel company Hop Lun is an example of Platinum Equity’s ability to ‘win over’ founder-owned companies”About Platinum EquityFounded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $36 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 27 years Platinum Equity has completed more than 350 acquisitions.

How acquisition of apparel company Hop Lun is an example of Platinum Equity’s ability to ‘win over’ founder-owned companies

Home / News / How Acquisition Of Apparel Company Hop Lun Is An Example Of Platinum Equitys Ability To Win Over Founder Owned Companies

Platinum Equity’s decision to acquire a majority interest in Hop Lun, a global apparel company, is noteworthy for many reasons.Hop Lun is Platinum Equity’s fourth platform deal and first foray into the apparel business in Asia.It’s currently the fourth apparel company in Platinum Equity’s portfolio.The acquisition is also another instance of Platinum Equity building a solid working relationship with a founder-owned business. Current Platinum Equity portfolio companies Game Taco, Mad Engine, Arrow International, L&R Distributors and Centerfield were acquired from company founders.“Hop Lun is a really great example of Platinum's tenacity and our ability to win over sellers in terms of just being a firm that really values the human side of our business equation,” Platinum Equity Partner Jacob Kotzubei said recently. “We’re able to present a softer, gentler firm.”Founded by Erik Ryd in 1992 and headquartered in Hong Kong, Hop Lun is one of the world's notable designers and manufacturers of undergarments and swimwear in the U.S. and Europe. The Hop Lun investment is led by Platinum Equity's Singapore office, which Kotzubei oversees.“There are many founder or family-owned businesses in Asia facing succession or other issues that need a partner who can not only provide capital, but also operational expertise,” said Kotzubei. “They are looking to create additional value while also protecting their legacy and setting up their business for a new stage of growth. We have a lot of experience in those situations and are excited to work alongside Erik and the Hop Lun team on the next step in their journey.”Ryd will retain a significant stake in Hop Lun and will continue to help lead the business.“I am proud of everything we have built over the last three decades and I am confident Platinum is the perfect partner for our next phase of growth,” Ryd said. “Platinum's operations expertise is well suited to help us navigate the increasing complexity of the apparel business and take advantage of the sector's continued consolidation.”Kotzubei, Platinum Equity Managing Director Matt Louie and Senior Vice President Tae Ho Whang were asked recently for further thoughts on the acquisition.(Answers have been edited for length and clarity).Q: What was the key factor in landing this deal during a year of diminished M&A activity?Kotzubei: Erik is somebody that we got to know pre-COVID. We talked about a partnership before COVID hit. COVID is something that has had a big impact on his business because he relies on a large number of employees to make products, and COVID impacted factories and the ability for people to come to work.Kotzubei: After an initial acquisition attempt, we stayed in touch. Erik was very transparent with us, and we watched his business as it developed. We saw him adapt and make changes and really share the cultural values and the communication values that we have. And when it came time, as we were coming out of COVID and he began to reconsider selling his business, we were at the very top of his list. It was more than about how many dollars he was going to get. That was important, but it wasn't the only variable.Q: What is Hop Lun’s reputation in the apparel industry?Whang: Hop Lun is one of the world's largest original design manufacturers of intimate apparel. In a very fragmented market, they're a top performer in terms of volume for bra solutions. They also stand out as being unique for their ability to fulfill solutions for all types of customers – from leading supermarket/hypermarkets, specialty and general fashion retailers, digitally centered brands. This is a testament to Hop Lun’s breadth of expertise in design, manufacturing and overall supply chain management that is hard to replicate.Q: How was the deal sourced?Whang: There was a prior sales process led by Goldman Sachs several years ago, but I would say what was unique about that was even prior to the process, Erik had met us in the U.S. and in Asia, laying the foundation to cultivate what is now a three-year relationship. Both L.A. and Singapore deal team members engaged on the deal, and our relationship developed to a point that we were able to closely track the business and exchange ideas with Erik on a monthly basis for all of 2020 and 2021.Whang: The sale process launched in February; first-round bids were in by March. Then Russia invaded Ukraine. That created a lot of anxiety around inflation and there still is ongoing fears about a slowdown in the economy. That significantly reduced the playing field. I firmly believe the differentiator was how we saw this business and Erik persevering through that challenging environment the past 3 years - not just with the pandemic and the shutdowns - but really in that post-COVID environment, they continued to manage costs well, continued to grow revenue and transform the business to be more resilient.Q: How does this transaction help us with future M&A opportunities?Louie: There are so many family-driven businesses that are prevalent in Asia that may have succession issues over time. I think the word is really getting out to folks in the Asian region that Platinum can bring a lot to the table around professionalization, around taking the business to the next level. Erik really embraced Platinum’s approach to our operational improvement and M&A, and when that happens, that's a recipe for success. There are a number of families in Asia that may think they need capital, but that's all they need, and they really don't want help. That's not the right deal for us because we pride ourselves on what we can be. We’re more than just capital.Q: What are key parts of the investment thesis?Whang: A significant large part of this business goes to supermarkets, and it’s a product category we know is resilient. Beyond that, the management has also proven to be able to grow and come back stronger after dips and there’s a long history of just delivering above industry growth. As we think about the path forward, we think that in an industry which remains fragmented, it will eventually favor scaled players and give Hop Lun an opportunity to accelerate market share in the industry with our expertise.Q: Any synergies with similar companies (Elevate Textiles, Mad Engine, SVP Worldwide) in our portfolio?Whang: We've gotten some referrals from Mad Engine about opportunities we should be looking at, but at its core and where we're going to do well, is this business is an original design manufacturer. With the right M&A on the brand side, I think this business could be exciting. Back to Mad Engine, while Erik was in L.A. during the diligence process, he had a chance to visit Mad Engine in (Orange County, Calif) to exchange ideas. It was another facet of our value proposition to Eric. It helped him conceptualize how he could go bigger in the U.S.Whang: Elevate Textiles was very helpful during due diligence. There's a small, but consistent, upstream relationship. I think we're trying to see if we can widen that. It shows the attributes of Elevate; its management was aware of this business.Q: Does Hop Lun have a compelling ESG story?Whang: ESG is critical. And it is a major concern throughout the apparel industry. Top brands can’t afford bad press or accidents around worker conditions, living wages or bad governance. At the same time, many of these brands are not in the business of manufacturing so they have a growing reliance on the likes of Hop Lun to ensure they are being responsible throughout the supply chain. One of the big focal points during diligence was the impact of fast fashion on retail. While it will have potential impacts on the industry’s demand side over time, we also believe that this will have a strong impact to the supply side and with this evolving theme, scaled, responsible suppliers such as Hop Lun will emerge as more mission critical to its customers throughout our investment period.Louie: One of the key things from ESG is the use of sustainable fabrics. Hop Lun is increasingly exploring, collaborating with the brand owners to discover ways to use more sustainable products. We must look at brands or add-ons that have an innovative approach in the use of sustainable fabrics, in post-consumer recyclable materials.

How commitment and resources drive Platinum Equity’s European momentum

Home / News / How Commitment And Resources Drive Platinum Equitys European Momentum

The ability to execute European-headquartered global, pan-European, and domestic complex deals speaks to Platinum Equity’s commitment and deployment of resources in Europe.With the early 2022 acquisition of Leaders Romans Group, a UK-based property service firm, Platinum’s European portfolio includes: Spain-headquartered global environmental services leader Urbaser and global frozen seafood company Iberconsa, European vacation rentals group Awaze, European private label sweet biscuits manufacturer Biscuit International, Italy-based global marine contractor De Wave Group and global wine distributor Fantini Group Vini.Platinum Equity Partner Louis Samson highlighted the firm’s European focus after the $4.2 billion agreement to acquire Urbaser was announced last year.“Urbaser is another important addition to Platinum’s growing portfolio of operating companies headquartered in Spain and is a direct reflection of our commitment to investing in the European market,” Samson said. “We have had great success delivering divestiture solutions to sellers in Europe and creating value across a wide range of industries.”A commitment that started 20 years ago has grown to thirty professionals with European headquarters based in London. There are more than 60,000 portfolio employees across the eight active investments. Since 2002, there have been 56 European transactions combining for a valuation of more than $17 billion. Since 2021, Platinum has completed nearly $6 billion in total transactions in Europe.Platinum Equity executives were asked recently to give more insight into the firm’s operations-focused strategy in an increasingly competitive market.(Answers have been edited for length and clarity).Samson on Platinum’s European strategy: “We've really supercharged the effort in the last five to seven years. We’ve built the foundation of a team that can grow to become what we've built in North America. It’s an approach that's a little less opportunistic and more deliberate with a foundation that can take us to the degree of velocity and importance in the market that we've reached in North America. We've reached a degree of relevance and have very high ambitions for the European office.”Managing Director Igor Chacartegui on Madrid-based Urbaser acquisition: “Being there, present in Spain, was vital to building trust because the CFO of (seller) China Tianying was sent to Spain for a three-month period to deliver this deal. (Metaphorically) holding hands with them, and with the company, we understand was critical for them to choose us as a partner to go into exclusivity, essentially six weeks before we got a deal signed.”  Principal Ramzi Itani on culture and understanding: “To be successful in the industry that we work in, you must be able to address cultural nuance. To be really close to the seller, to be close to the management team, you need to be able to converse in their own language. As we've built the team here, we've filled in some of the gaps that we had with executives that can speak French or Spanish or Italian, and I think that's really helped us be more successful at that final point of getting a deal done.”Managing Director Malik Vorderwuelbecke on firm’s evolution: “Over the past decade, Platinum didn't sit still, we developed and evolved the skillset to tackle ever more complex deals, and more comprehensive transformations. If you look at the deals we do today vs. the deals we did back then, we have shifted from looking at smaller opportunities, maybe more cost-focused opportunities, to looking at market-leading businesses with excellent management teams, very defensible profiles.”Samson on what’s next: “Our aspirations in Europe really are to replicate our North American business. We're building our business to be viewed as a reliable partner.”