February 01, 2012
Los Angeles, CA – Platinum Equity announced today it has completed the sale of 3B - The Fibreglass Company ("3B") to Binani Industries Limited. Platinum did not disclose terms of the agreement. Headquartered in Battice, Belgium, 3B is a European leader in the production of fiberglass composite materials and is a preferred supplier to global leaders in the automotive, wind energy, and other industries. Platinum acquired the manufacturing plants, intellectual property, and other assets that would become 3B from Owens Corning in April 2008. "We are pleased to complete the sale of 3B to...
Read moreJanuary 31, 2012
Los Angeles, CA – Platinum Equity announced today that it sold Canvas Systems to Avnet, Inc. (NYSE:AVT). Canvas is an independent supplier of IT hardware and services. Terms of the transaction were not disclosed. Platinum acquired controlling interest in Canvas in 2009 from OHC, LLC. OHC retained a minority interest in Canvas under Platinum’s ownership and has also sold its position to Avnet in connection with the transaction announced today. “We are proud of what we accomplished at Canvas over the past three years in collaboration with the company’s management team and hard-wo...
Read moreJanuary 03, 2012
Los Angeles, CA – Platinum Equity announced today that it has acquired Keen Transport Company, which includes Keen Transport, Inc. and Cressler Trucking, Inc. Keen Transport is a national provider of heavy-haul logistics and transportation services for the construction, mining, and agriculture equipment markets. Cressler Trucking is a general commodity carrier that provides packaged goods transportation, primarily in the Northeast United States. Bill Keen will remain with the company in his position as CEO. Terms of the transaction were not disclosed. "Keen Transport has a rich heritag...
Read moreDecember 12, 2011
Chicago, IL – Ryerson Inc., a leading distributor and processor of metals in North America, announced today that it has acquired Turret Steel Industries, Inc. and Sunbelt-Turret Steel, Inc., steel service centers headquartered in Pittsburgh. The acquisition also includes Turret-affiliated companies Wilcox Steel and Imperial Logistics. Turret and its affiliates generate annual revenues of approximately $130 million. Terms of the transaction were not disclosed. "This acquisition represents another important step in Ryerson's effort to continue expanding our product offering in the long p...
Read moreDecember 05, 2011
Orlando, FL – Youth football players across the country are receiving NFL-level protection during this week's Pop Warner Super Bowl games at the ESPN Wide World of Sports – thanks to Schutt Sports, the official helmet and reconditioner of Pop Warner Football. The athletes are wearing youth versions of the Schutt AiR XP and DNA Pro+, two of the most popular helmets in the NFL. Featured on the helmets this year is Schutt's all-new, exclusive Aqua Tech Water Graphics, a graphics treatment that gives the helmets a carbon fiber look. "These helmets drive the players wild," Glenn Beckmann,...
Read moreDecember 05, 2011
Los Angeles and San Diego, CA – Platinum Equity announced today it has completed the sale of The San Diego Union-Tribune to MLIM LLC, owned by San Diego entrepreneur Doug Manchester. Terms of the agreement were not disclosed. "We are grateful to have been part of the San Diego community and appreciate all the support we received in our time here," said Tom Gores, Platinum Equity Chairman and CEO. "Many people contributed to the transformation of this business and helped the Union-Tribune manage through some really tough times. From employees to readers to community partners, everyone p...
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