LOS ANGELES (January 4, 2005) – Platinum Equity announced today that senior executive Ross Young has been appointed president and CEO of Platinum company PEAK Technologies, an international provider of automated identification and data collection systems and enterprise mobility solutions. Platinum completed the acquisition of PEAK Technologies on December 22, 2005.
Young most recently served as vice president of portfolio operations for Platinum Equity, a position he held for the past four years. During this time, Young assumed senior leadership roles with newly acquired companies, guided their operational transition into the Platinum portfolio, and played a key role in helping new Platinum companies establish their strategic positioning and go-forward business plans.
“Ross will bring leadership, strategic focus, and valuable experience to PEAK,” said Rob Joubran, chief operating officer and treasurer for Platinum Equity. “He has worked in similar industries in both the U.S. and Europe where business and client relationships have evolved from a ‘product-centric’ focus to a greater emphasis on services and solutions. We see a strong upside for PEAK, and Ross is well equipped to turn that potential into tangible results.”
Former PEAK Technologies president and chief executive officer Adrian Thomas has left the company to explore other business opportunities. “Adrian made significant contributions to PEAK, including the substantial role he played in facilitating the sale of the company. We wish Adrian well in his future endeavors,” Joubran said.
Prior to joining Platinum Equity, Young had a successful career as vice president of sales for NextiraOne North America. Platinum created NextiraOne through several strategic acquisitions, and Young was integral to building the company into a systems integration and solutions leader with more than $1 billion in annual revenue. Young also brings extensive multi-national experience to PEAK Technologies. Earlier in his career he served as director and general manager for Racal Datacom, an international manufacturer and reseller of network integration solutions. Young led Racal’s products business in the EMEA regions.
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, software, telecommunications, logistics, manufacturing, and entertainment distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum has built a multi-billion-dollar portfolio of operating companies with 40,000 employees and 600,000 customer sites throughout the world. Platinum was also recently named the 18th largest private company in the United States by Forbes magazine.
About PEAK Technologies
PEAK Technologies (www.peaktech.com) is an international provider of automated identification and data collection (AIDC) systems, enterprise mobility solutions and ongoing service and support. PEAK’s primary applications include solutions for warehousing, manufacturing, distribution and field-based operations. Headquartered in Columbia, Maryland, PEAK Technologies has locations throughout North America and Europe providing a comprehensive “foot print” for multi-national service and support.