Los Angeles (October 1, 2013) – Platinum Equity announced today it has acquired MetoKote
Corporation, a provider of industrial
metal coating services, from CCMP Capital Partners LLC. Terms of the transaction were not disclosed.
MetoKote President and CEO Jeff Oravitz will continue to lead the
company under new ownership and the company will continue to operate under the
“We are excited about the transition to new ownership and look forward
to working with the Platinum Equity team to continue growing our business by providing
customers with best-in-class coatings services,” said Mr. Oravitz. “MetoKote will benefit from Platinum’s
expertise working with portfolio companies to create value and generate opportunities
Platinum Equity has extensive experience in industrial services and
working with automotive OEMs and heavy equipment manufacturers. The firm’s current portfolio includes Tier-1
automotive suppliers Acument and Chassix; Neovia Logistics, a global provider of complex supply chain and logistics solutions serving
automotive and other industries; and Active Aero, a provider of expedited
transportation and logistics solutions serving manufacturing,
industrial and automotive customers.
“The MetoKote team can also benefit from Platinum’s international reach
and experience working with global companies,” said Mr. Oravitz. “We are
excited about the next chapter in the evolution of our business.”
About MetoKote Corporation
Corporation, headquartered in Lima, Ohio, serves its many customers in 29
facilities throughout the United States, Canada, Mexico, Brazil and Europe.
MetoKote provides environmentally sound and cost-effective coating
solutions including equipment, coating
application, and related management and support services to a wide variety of
industries such as agriculture, appliance, automotive, computer, construction
equipment, electrical, furniture, industrial equipment, recreational, and truck
and bus. For more information, please visit: www.metokote.com.
About Platinum Equity
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 150 acquisitions. The firm recently completed raising Platinum Equity Capital Partners III, a
$3.75 billion buyout fund focused on investing in businesses that can benefit
from Platinum Equity’s operational expertise.
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