News

Filter by:
Sort by: New | Old

July 21, 2005

Platinum Equity Acquires American Racing Equipment Inc.

Premier Manufacturer Of High Performance Automotive Wheels Is Envisioned As Platform for Additional Acquisitions BEVERLY HILLS, Calif. (July 21, 2005) – Platinum Equity announced today that it has acquired American Racing Equipment Inc., a leading manufacturer of high-performance automotive wheels to aftermarket customers in North America, from Noranda Aluminum Inc. Based in Southern California with a heritage dating back 50 years, American Racing Equipment is an industry pioneer that employs 1,400 people in manufacturing operations in Los Angeles and in Tijuana, Mexico, as well as in ...

Read more

March 21, 2005

Global Crossing Announces Sale of Small Business Group to Platinum Equity's Matrix Telecom

Florham Park, NJ -- Global Crossing (NASDAQ: GLBC) announced today that it has entered into a purchase agreement to sell its small business group (SBG) to Matrix Telecom®, a Platinum Equity company. Under the agreement, Global Crossing will receive $40.5 million in gross cash proceeds for SBG. In addition, Global Crossing and Matrix have entered into a long term carrier services agreement under which Global Crossing will offer its full suite of voice, data and IP services to Matrix. The sale is subject to regulatory approval and is expected to close during the third quarter of 2005. Global...

Read more

January 18, 2005

Platinum Equity Acquires Universal Group Direct and Dial Business Units from Vivendi Universal

Businesses in France and the United Kingdom are Europe’s Largest Club-Based Marketers of DVD, CD and Video Game Entertainment   LOS ANGELES (Jan. 17, 2005) – Platinum Equity announced today that it has acquired Universal Group Direct and DIAL – Europe’s largest club-based marketers of DVD, CD and video game entertainment – from Vivendi Universal.   Financial terms were not disclosed. The two businesses serve about 1.5 million active customers and generate annual revenue of approximately €170 million.   “These are the leading home entertainment dis...

Read more