Platinum Equity Sells Livingston to Purolator
North American full-service customs brokerage firm divested following multi-year transformation campaign Platinum Equ...
Press Releases • January 10, 2007
LOS ANGELES (January 10, 2007) – Platinum Equity announced today that Maurice S. Nelson Jr. has been appointed as Chief Executive Officer of its portfolio company PNA Group, a premier processor and distributor of steel products to fabricators, manufacturers and distributors. PNA Group was acquired by Platinum Equity in May 2006, and then expanded via the add-on acquisition of Metals Supply Company a short time later. The business generates annual revenue of more than $1.5 billion. Mr. Nelson, who will join the company on Feb. 1, is a seasoned steel industry executive who will help lead...
Read morePress Releases • January 19, 2007
LOS ANGELES, CA (January 19, 2007) – Platinum Equity announced today it has completed the acquisition of the Healthcare Marketing Services (HMS) unit of Cardinal Health (NYSE: CAH). Terms of the transaction, which was announced in November, were not disclosed. A transition is now underway to separate the business from Cardinal Health and establish it as a standalone company. The new company will be renamed, and details about the new name and brand image will be announced as the transition process unfolds. “HMS delivers vital services in a rapidly growing market, and has strong relati...
Read morePress Releases • January 31, 2007
TROY, Mich. – Delphi Corporation (PINKSHEETS: DPHIQ) announced today that it is working to finalize a Master Sale and Purchase Agreement with Platinum Equity regarding the sale of Delphi’s global steering and halfshaft business. Delphi announced in March 2006 that, while it recognized the steering business as strategic, it intended to explore a sale of the global steering business as part of its comprehensive transformation plan. According to John Arle, Delphi vice president of treasury, mergers and acquisitions, “Delphi intends to finalize negotiations with Platinum Equity and, upon ...
Read morePress Releases • February 16, 2007
FEDERAL WAY, Wash. (February 16, 2007) – Weyerhaeuser Company (NYSE: WY) today reaffirmed its commitment to sharpen the focus of its portfolio by announcing its intent to sell its Canadian and select U.S. building materials distribution centers. “The sale of these distribution centers is part of our ongoing effort to sharpen the focus of our portfolio and enhance shareholder value,” said Lee T. Alford, senior vice president of residential wood products. “Weyerhaeuser is committed to being the undisputed leader in structural frame markets and will continue to invest in innovative pro...
Read morePress Releases • March 29, 2007
LOS ANGELES--(BUSINESS WIRE)--Platinum Equity announced today that it has completed the acquisition of Strategic Distribution, Inc., which provides supply chain management solutions for industrial and institutional customers in the United States, Canada, and Mexico. The acquisition is a public-to-private transaction and Strategic Distribution Inc. has been delisted from the NASDAQ exchange, with each share of common stock converted into the right to receive $10 in cash per share. In conjunction with the acquisition, Platinum Equity announced that Rudi Strobl has been appointed as CEO of ...
Read morePress Releases • June 05, 2007
Platinum Equity Completes Weyerhaeuser Acquisition and Relaunches Business as Broadleaf Logistics Co LOS ANGELES (June 5, 2007) – Platinum Equity announced today that it has completed the acquisition of Weyerhaeuser Company’s wholesale products distribution centers in Canada and established the distribution business as a standalone company named Broadleaf Logistics Company. In conjunction with the acquisition, Platinum Equity announced that Paul Perkins has been appointed as Chief Executive Officer of Broadleaf Logistics. Mr. Perkins previously served as vice president, policy and pl...
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