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September 03, 2013

Platinum Equity Closes $3.75 Billion Private Equity Fund

LOS ANGELES, CA (September 3, 2013) –  Platinum Equity today announced the closing of Platinum Equity Capital Partners III, a buyout fund focused on investing in businesses that can benefit from Platinum’s operational expertise. The fund closed on its target size of $3,750,000,000 in capital commitments. It is the successor to a $2,750,000,000 fund that closed in 2008 and a $700,000,000 fund that closed in 2004. Prior to the first fund, Platinum invested more than $525,000,000 in founders capital. “We are excited about the continued support for our firm’s growth and its future,” s...

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August 29, 2013

Platinum Equity Rebrands Exel Direct as MXD Group

Columbus, OH, (Aug. 29, 2013) – Platinum Equity today announced the rebranding of home delivery business Exel Direct as MXD Group. Platinum Equity acquired Exel Direct, Inc. from Exel Inc., a subsidiary of Deutsche Post DHL, in May 2013. Exel Direct specializes in high-touch “white glove” delivery services for North American retail brands across a variety of consumer segments. The business executes approximately 2.3 million deliveries annually utilizing an independent contractor workforce. “The transition to new ownership has been good for our business and is opening up many exci...

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August 07, 2013

Maersk Inc. Announces Sale of Bridge Terminal Transport, Inc. to Platinum Equity

MADISON, NJ - Aug 7, 2013 -  Maersk Inc., a subsidiary of the A.P. Moller-Maersk Group, announced today that it has entered into an agreement to sell substantially all the assets of its subsidiary Bridge Terminal Transport, Inc. (BTT) to an affiliate of Platinum Equity, a Los Angeles-based private equity firm. The transaction is expected to be completed on or about September 1, 2013, subject to satisfaction of customary closing conditions. The transaction will have no impact on the Group's result for 2013. "The A.P. Moller-Maersk Group's strategy is to build on its strong presence in sh...

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August 05, 2013

Emerson Reaches Agreement to Sell Majority Interest in Embedded Computing & Power Business to Platinum Equity

ST. LOUIS--August 06, 2013--Emerson (NYSE: EMR) today announced an agreement to sell a 51 percent stake in its embedded computing and power business to Platinum Equity. Emerson will receive approximately $300 million in cash and will retain a 49 percent noncontrolling interest in the business, which will operate as an independent company. Share repurchase will be increased by $600 million to offset associated earnings dilution. "After extensive consideration, we have found an arrangement to exit this business in a manner that maximizes its value for our shareholders, " said Emerson Chairman...

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July 16, 2013

Platinum Equity Makes Irrevocable Binding Offer of $225 Million for CBS Outdoor International

Los Angeles and New York (July 16, 2013) – Platinum Equity and CBS Corporation (NYSE: CBS.A and CBS) announced today that an affiliate of Platinum Equity has made an irrevocable binding offer to acquire the assets of CBS Outdoor International (“CBSO International”).  The proposed transaction represents a total value of approximately $225 million and is subject to completion of works council consultation and other conditions. CBSO International is a leading outdoor media company and is among the largest out-of-home media and billboard businesses in Europe, providing custom media solu...

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June 18, 2013

Neovia Logistics To Acquire MIQ Contract Logistics Business

DOWNERS GROVE, Ill. (June 18, 2013) – Neovia Logistics, a global provider of complex supply chain solutions and logistics services primarily serving the automotive, industrial, mining, aerospace and defense industries, announced today that it has signed a definitive agreement to acquire the contract logistics division of  MIQ Holdings, Inc. The contract logistics business provides warehouse management and fulfillment services, distribution solutions and other value-added logistics services through a network of nine facilities in the United States and Canada. “The contract logistics ...

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