Platinum Equity to Acquire Solo, European Provider of Personalizable Products and Apparel
Co-President Louis Samson: Firm’s ‘approach to value creation’ makes good fit with Solo
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June 17, 2008
Platinum Equity Signs Agreement to Sell PNA Group
LOS ANGELES (June 17, 2008) – Platinum Equity announced today that it has signed a definitive agreement to sell PNA Group, a leading processor and distributor of steel products, to Reliance Steel & Aluminum Co. (NYSE:RS) in a transaction valued at approximately $1.1 billion. The transaction is expected to be finalized within the next 60 days, subject to normal closing conditions including regulatory approval. Platinum acquired PNA Group in May, 2006 and created substantial value in the business through a combination of operational initiatives and add-on acquisitions. PNA’s revenu...
Read moreMay 09, 2008
Platinum Equity Integrates American Racing, Wheel Pros
Leading High Performance Wheel Brands Are United in Single Powerhouse Company LOS ANGELES (May 9, 2008) – Platinum Equity announced today the integration of American Racing and Wheel Pros, two leading distributors of high performance wheels and tires to the automotive aftermarket. The combined company will offer a comprehensive portfolio of wheel products comprising the industry’s best known and most enduring wheel brands, including the full lineup of existing American Racing and Wheel Pros products. “This is an incredibly powerful combination that unites two of the best names i...
Read moreMay 01, 2008
Platinum Equity Completes Acquisition of Composite Manufacturing Plants in Belgium and Norway
LOS ANGELES (May 1, 2008) – Platinum Equity announced today that it has completed the acquisition of Owens Corning’s composite manufacturing plants in Battice, Belgium and Birkeland, Norway, as well as intellectual property and business assets related to those facilities. The plants manufacture and sell composite materials that are used to strengthen and lighten components and parts in the automotive, wind energy, electronics and consumer goods industries, among others. Owens Corning sold the facilities to address regulatory concerns associated with its acquisition of Saint-Gobain’...
Read moreApril 15, 2008
Platinum Equity Completes Acquisition of Covad Communications Group, Inc.
LOS ANGELES and SAN JOSE, CA (April 15, 2008) – Platinum Equity announced today it has completed the acquisition of Covad Communications Group, Inc., a leading national provider of integrated voice and data communications. The total value of the transaction is approximately $470 million. The acquisition was a public-to-private transaction in which an affiliate of Platinum Equity acquired all outstanding shares of Covad stock for $1.02 per share in cash. The company previously traded on the American Stock Exchange under the ticker symbol DVW. “Covad has been an innovator since the day...
Read moreNovember 11, 2007
Thomas W. Ehardt Appointed CEO of Advogent Group
PISCATAWAY, NJ (January 30, 2008) – Thomas W. Ehardt, a senior executive with more than 25 years experience leading healthcare marketing and education businesses, has been named Chief Executive Officer of the Advogent Group. Advogent, a Platinum Equity company, provides communications and educational solutions to the pharmaceutical, biotechnology and medical device industries, including publication planning, healthcare communications, event management logistics, compliant data systems and strategic outsource solutions. “Tom is an experienced professional with a strong track record fo...
Read moreOctober 19, 2007
Platinum Equity Completes Acquisition of Ryerson Inc.
Takes Company Private in Transaction Valued at Approximately $2 Billion LOS ANGELES (October 19, 2007) – Platinum Equity announced today that it has completed the acquisition of Ryerson Inc., one of the largest metal service centers in North America with annual revenue of approximately $6 billion. The acquisition was a public-to-private transaction in which Platinum acquired all outstanding shares of Ryerson stock for $34.50 per share. The company previously traded on the New York Stock Exchange under the ticker symbol RYI. “Ryerson has a great history and also great potential,”...
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