Los Angeles (Nov. 22, 2013) – Platinum
Equity announced today that it has completed the acquisition of a 51 percent
controlling stake in Emerson’s Embedded Computing & Power (EC&P)
business. Emerson (NYSE: EMR) retains a
49 percent non-controlling interest.
The EC&P business is a global
technology leader in the development of power conversion and embedded computing
solutions for communications, computing and industrial applications. Platinum Equity will establish EC&P as a standalone
enterprise under a new corporate identity that will be announced at a later
date.
Platinum Equity
Partner Jacob Kotzubei said he is excited about EC&P’s prospects under new
ownership.
“We will work with EC&P’s management
team to help the business achieve new levels of success as a stand-alone
company. Together we will strengthen and reinforce the company’s
customer-centric culture and commitment to delivering highly-engineered
products and technologies to EC&P’s customers,” said Mr. Kotzubei.
“The business has tremendous growth potential, both organically and through
prospective complementary add-on investments.”
A team that includes Platinum Equity
in-house operations specialists is focused on transitioning the newly acquired
business. A rebranding initiative is underway, and a new company name and image
will be announced as that process unfolds.
Mr. Kotzubei said
he looks forward to the continued partnership with Emerson.
"We
created a customized divestiture solution that met Emerson’s needs and was also
good for EC&P,” said Mr. Kotzubei. “We look forward to working
together with Emerson as partners to create real long-term value in this
business.”
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 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.
About EC&P
The Embedded
Computing & Power business (EC&P) is a trusted, global leader in the
development, design and manufacture of highly reliable power conversion and
mission critical embedded computing technology solutions for communications,
computing and industrial markets. EC&P’s extensive portfolio of
embedded computing and power products and services helps accelerate
time-to-market, and provides scalable and cost-effective solutions for its
customers.
# # #
