Why Platinum Equity Acquired ‘Proud’ Family-Owned Italian Pesto Sauce Producer Polli
In 1872, Fausto Polli opened a small store front selling canned vegetables in the heart of Milan. Since that humble b...
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September 28, 2020
How Platinum Equity’s Small Cap team has put experience and capital to work during COVID-19 crisis
Theater goers have not exactly flocked back to movie houses in the U.S. A slow stream of new releases began in August. The month of September saw the release of Tenet, a planned summer blockbuster from noted director Christopher Nolan. The viewing public’s response was underwhelming. After months of COVID-19 forced closures, Tenet failed to earn $30 million in its first two weeks in theaters. Although theaters are still closed in the two largest markets (New York and Los Angeles), the New York Times reports 68% of the theater marker was open for Tenet, but it landed with a whimper. ...
Read morePress Releases • September 22, 2020
Statement from Platinum Equity: No intention to make an offer for AA plc (“AA”)
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") FOR IMMEDIATE RELEASE 23 September 2020 Statement from Platinum Equity: No intention to make an offer for AA plc (“AA”) Platinum Equity announces today that discussions with the Board of AA have been terminated by mutual agreement and it does not in...
Read moreSeptember 11, 2020
Update: Securus Technologies Reports More Than 50 Percent Reduction in Fees for Third-Party Transactions on Calling Accounts
Fees for 3rd party retail transactions reduced to $4.95 DALLAS, TEXAS–Aventiv Technologies and its corrections-services subsidiary Securus Technologies today announced that it has renegotiated pricing on third party vendor contracts. Consumers pay processing fees for cash deposits to fund telephone accounts by third party retail vendors such as Western Union and MoneyGram. These new prices result in a combined total cost reduction for consumers of more than 50 percent. The reduction comes amid an expansive and holistic corporate transformation launched in January, with the goal of ma...
Read moreSeptember 02, 2020
Securus Technologies’ ‘Lantern’ shines brightly in helping 600 students earn degrees from Ashland University
DALLAS, Sept. 2, 2020 -- Securus Technologies today announces that its Lantern Program has helped 600 incarcerated students earn bachelors and associates degrees from its partner, Ashland University. Created in 2016, Lantern is a first-of-its-kind learning management system built specifically for corrections to provide incarcerated students access to digital education. It has grown to become the largest digital education program for the incarcerated in the U.S. Lantern is an interactive, cross-functional, and full-service education platform, built to provide incarcerated individuals...
Read moreAugust 24, 2020
Platinum Equity CEO Tom Gores’ relationship with ESPN’s Jalen Rose vital to Detroit charter school’s educational mission
When the topic turns to the public charter school that bears his name, Jalen Rose becomes a preacher. The ESPN/ABC analyst, who starred at Michigan and played 13 seasons in the NBA, mimics a proud parent while advocating for the Jalen Rose Leadership Academy, which he co-founded in 2011. The passion is also apparent when he brings up JRLA benefactors like Platinum Equity chairman and CEO Tom Gores, who owns the NBA’s Detroit Pistons. “So many things literally come from donors, and that's why it's very important to not only spread the word about what we're doing, but also hopefully...
Read moreAugust 10, 2020
Investing in What Matters: Aventiv Technologies Dedicates Additional Resources towards Expanding and Improving Relationships with Those That Mean the Most
Organization progresses on transformation with expanded priorities to address immediate needs for incarcerated individuals and their loved ones impacted by COVID-19 DALLAS, Aug. 10, 2020 -- Just six months since launching a transformation agenda under new CEO Dave Abel, Aventiv Technologies and its corrections-services subsidiary, Securus Technologies, today reported significant progress in accelerating an expansive, holistic reform of corporate policies and practices. Education, reentry and recidivism represent one of the key pillars in the transformation effort. An additional 13,456...
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