LOS ANGELES, CA (August 27, 2014) – Platinum Equity announced today that the sale of Active Aero Group to Roadrunner Transportation Systems, Inc. (NYSE: RRTS) has been completed. Active Aero is a provider of supply-chain solutions focused on transportation logistics for customers with sensitive or time-critical freight, principally in the United States and Mexico.
“Through a great collaboration with Active Aero’s management team, we fundamentally improved business operations over the last three years and sharpened the company’s strategic focus,” said Rob Joubran, the Partner at Platinum Equity responsible for the operations plan on the Active Aero investment. “Active Aero has a very bright future within Roadrunner’s portfolio.”
Platinum Equity acquired a majority interest in Active Aero in 2011 from a consortium of investors that retained a minority ownership position alongside Platinum Equity. The sale completed today was for 100 percent of the equity of the business.
“As we continue to look for new acquisition opportunities across many different industries, including transportation and logistics, the Active Aero investment is a great example of how our model can create value for everyone involved,” said Farhaad Wadia, the Senior Vice President in Platinum Equity’s lower middle market group who led the acquisition. “We provided a tailored divestiture solution, unlocked value in the business through sound operational stewardship, and found a home for the company going forward that is a perfect strategic fit.”
The sale of Active Aero marks Platinum Equity’s seventh divestiture transaction of 2014, following the sales of Keystone Automotive, NESCO, Truesense Imaging, Acument Global Technologies, Rec Boat Holdings and Wheel Pros.
Stifel Nicolaus served as financial advisor to Platinum Equity on the sale of Active Aero. Bingham McCutchen served as legal advisor to Platinum Equity on the transaction.
About Platinum Equity
Founded by Tom Gores
in 1995, Platinum Equity is a global investment firm with more than $7 billion in assets under management and a portfolio of operating companies that generated approximately $15 billion in revenue in 2013. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy the firm calls M&A&O®
– acquiring and operating companies in a broad range of business markets, including manufacturing, information technology, telecommunications, transportation and logistics, media, equipment rental, metals and other industries. Over the past 19 years Platinum Equity has completed more than 150 acquisitions