How Sunrise Medical Supports Air Travel Innovation for Power Wheelchair Users
Wheelchair manufacturer works to assist users who need assistance while flying.
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March 16, 2018
Platinum Equity Submits Binding Offer to Acquire LifeScan from Johnson & Johnson
LOS ANGELES (March 16, 2018) – Platinum Equity announced today that it has submitted a binding offer to acquire LifeScan, Inc. from Johnson & Johnson (NYSE: JNJ) in a transaction valued at approximately $2.1 billion. LifeScan is a leader in blood glucose monitoring products with 2017 net revenue of approximately $1.5 billion. “We have great respect for Johnson & Johnson and appreciate their confidence in our ability to execute,” said Platinum Equity Chairman and CEO Tom Gores. “This is an important investment for us in a business that serves millions of patients around the w...
Read moreMarch 01, 2018
Platinum Equity Announces Acquisition of Highway Toll Administration
HTA Combines With American Traffic Solutions Fleet Services to Capitalize on Continued Growth in Electronic Toll Collection LOS ANGELES (March 1, 2018) – Platinum Equity today announced the acquisition of Highway Toll Administration, LLC (HTA), a leader in electronic toll collection services and technology. HTA was acquired from Miami-based David and Leila Centner. Financial terms of the transaction were not disclosed. HTA is combining with the Fleet Services unit of Platinum Equity portfolio company American Traffic Solutions (ATS), creating an organization that will process tolls f...
Read moreMarch 01, 2018
Platinum Equity Announces Acquisition of Lentz Milling Company
LOS ANGELES – (March 1, 2018) – Platinum Equity today announced the acquisition of Lentz Milling Company. Financial terms of the transaction were not disclosed. Lentz, based in Reading, Pennsylvania, provides food ingredient distribution services to food manufacturers, commercial bakeries, retail bakeries, and other customers throughout 10 states in the Mid-Atlantic and Northeast regions. The company primarily distributes bakery-related products such as flour, sugar and sweeteners, bakery mixes, shortenings and fillings. Lentz is combining with JM Swank, which Platinum Equity acquire...
Read moreFebruary 27, 2018
Platinum Equity to Acquire Hunterstown Power Generation Facility from GenOn Energy
LOS ANGELES (Feb. 27, 2018) – Platinum Equity announced today that it has signed a definitive agreement to acquire GenOn’s Hunterstown power generation facility and related assets in a transaction valued at approximately $520 million. GenOn, a unit of NRG Energy Inc. (NYSE: NRG), filed for bankruptcy protection in June 2017. The acquisition is subject to regulatory approval and is expected to close in the second quarter of 2018. Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed)...
Read moreFebruary 26, 2018
Platinum Equity to Acquire American & Efird
LOS ANGELES (Feb. 26, 2018) – Platinum Equity announced today that it has signed a definitive agreement to acquire American & Efrid (A&E) from KPS Capital Partners. Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close in the second quarter of 2018. Headquartered in Mt. Holly, North Carolina, A&E is the largest U.S. manufacturer and the world’s second-largest manufacturer and distributor of premium quality industrial and consumer sewing thread, embroidery thread and technical textiles. A&E thread is used by produce...
Read moreFebruary 15, 2018
Wyndham Worldwide Announces Agreement to Sell its European Vacation Rental Business to Platinum Equity
PARSIPPANY, N.J., February 13, 2018 — Wyndham Worldwide Corporation (NYSE: WYN) today announced that it has entered into a definitive agreement for the sale of its European vacation rental business to Platinum Equity for approximately $1.3 billion. In conjunction with the sale, the European vacation rental business has entered into a 20-year agreement under which it will pay a royalty fee of 1% of net revenue to Wyndham’s hotel business for the right to use the by Wyndham Vacation Rentals® endorser brand. The European vacation rentals operations will also participate as a redemption ...
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