E•Boom Finance coverage of the role Platinum Equity played in the survival and long-term fitness of capacitor manufacturer KEMET.
A global supplier of devices critical to the renewable energy and other sectors, KEMET went public in October 1992. When its markets collapsed in 2008 and with looming debt repayment deadlines, KEMET shares plummeted and the company was delisted from the New York Stock Exchange.
Platinum Equity met with the KEMET management team and created an equity financing deal that was key to KEMET’s survival. Relieved of much of its financial pressure, KEMET was able to focus on the growing hybrid electric vehicle market, the wind energy market, and the solar power markets.
Showing a substantial recovery since Platinum Equity engaged, KEMET’s six-month 2011 results (ended 9/30/2010) posted a $14.8 million profit on revenues of $492 million.
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