Jostens Announces $640 Million Dividend Recap
Koch Equity Development invests $450 million, will own minority stake in the business LOS ANGELES (November 12, 2024)...
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Press Releases • October 17, 2005
Platinum Equity Signs Definitive Agreement to Sell ACR Logistics to Kuehne + Nagel International
Operational Performance and Enterprise Value Grew Dramatically Under Platinum Ownership LOS ANGELES (October 17, 2005) – Platinum Equity announced today that it has agreed to sell portfolio company ACR Logistics to Kuehne + Nagel International AG, one of world’s largest logistics companies. The agreement values ACR Logistics at nearly €500 million euros. The transaction, which is subject to regulatory approval, is expected to be completed in early 2006. “ACR Logistics has been an outstanding investment for Platinum Equity, and we are confident the company will continue to thri...
Read morePress Releases • September 20, 2005
Platinum Equity Completes Acquisition of USRobotics®
LOS ANGELES (September 20, 2005) – Platinum Equity announced today that it has completed the acquisition of pioneering network and Internet connectivity provider USRobotics. The transaction was announced on Aug. 15. With an installed base of more than 100 million products in more than 80 countries worldwide, USRobotics is one of the world’s leading producers and distributors of broadband and analog modems, and wired and wireless networking solutions. Founded in 1976 by three University of Chicago students working out of a Skokie, Illinois garage, the company was named after the “gr...
Read morePress Releases • August 15, 2005
Platinum Equity to Acquire USRobotics®
Acquisition Will Strengthen Leading Network Connectivity Provider; Positions Company on a Platform for Growth Through Additional Acquisitions LOS ANGELES and CHICAGO (August 15, 2005) – Platinum Equity will acquire USRobotics in an all-cash transaction that will both strengthen the pioneering Internet connectivity and networking product provider and position it for future growth, the two companies announced today. “USRobotics has a stellar reputation for quality and innovation, and is one of the premier brand names in the technology industry,” said Tom Gores, chairman and chief exe...
Read morePress Releases • July 27, 2005
Platinum Equity Signs Agreement to Acquire Supply Chain Business from LESCO Inc.
BEVERLY HILLS, Calif. (July 27, 2005) – Platinum Equity announced today that it has reached a definitive agreement to acquire substantially all of the supply chain and distribution assets of LESCO Inc. (NASDAQ: LSCO), a leading provider of products and supplies to the professional turf care industry. The assets being acquired include four blending facilities and a majority of the company’s warehouse and distribution centers, along with consumable products inventory stored at those locations including fertilizer, seed, control products, combination products, pest control and related prod...
Read morePress Releases • 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 morePress Releases • 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...
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