Platinum Equity and Butterfly to Acquire Rise Baking Company
Leading operational private equity firms partner to accelerate Rise’s next chapter of growth LOS ANGELES, CA – Sept...
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Press Releases • May 31, 2011
NBA Board of Governors Unanimously Approves Sale of Detroit Pistons to Tom Gores
New York, NY – The NBA Board of Governors has unanimously approved the sale of the Detroit Pistons to Tom Gores and his investment firm, Platinum Equity. The transaction is expected to close shortly."We are delighted that the NBA’s Board of Governors approved Tom Gores’ purchase of majority ownership of the Pistons,” said NBA Commissioner David Stern. “We look forward to the Pistons’ continued growth, both on and off the court, under his leadership.”...
Read morePress Releases • May 24, 2011
Platinum Equity Acquires Active Aero Group
Los Angeles, CA and Belleville, MI – Platinum Equity announced today that it has acquired a majority stake in Active Aero Group, Inc. (“Active Aero”), a provider of expedited transportation and logistics solutions. Platinum acquired the majority stake in Active Aero from a consortium of sellers, including Berkshire Partners LLC and Greenbriar Equity Group LLC. The sellers retained a minority interest in the business. Terms of the transaction were not disclosed. “Active Aero’s enthusiastic and highly-skilled logistics experts deliver expedited transportation solutions to its cus...
Read morePress Releases • April 13, 2011
How a Newspaper is Fending Off Groupon
In light of the overwhelming success of Groupon and LivingSocial, a program created by The San Diego Union-Tribune is, according to DigiDay Daily, giving them a run for their money. The Daily Deal program at the Union-Tribune negotiates discounts with local merchants much like Groupon and LivingSocial. The edge that the Daily Deal maintains, however, is its front-page placement on the newspaper which is seen by over 1 million subscribers weekly. In addition, the Daily Deal reaches the Union Tribune's online audience. DigiDay Daily also notes that the Union-Tribune's Daily Deal is one of ...
Read morePress Releases • April 08, 2011
Karen Davidson and Tom Gores Reach Agreement on Sale of Detroit Pistons
AUBURN HILLS, MI - Palace Sports and Entertainment (PS&E) and Detroit Pistons Basketball Company (DPBC) owner Karen Davidson today announced a definitive agreement to sell PS&E, DPBC, and their respective assets -- including the NBA's Detroit Pistons, The Palace of Auburn Hills, DTE Energy Music Theatre and the operating rights to Meadow Brook Music Festival -- to financier Tom Gores and his investment firm, Platinum Equity.Terms of the agreement, which is still subject to review and approval by the NBA's Board of Governors, were not disclosed."We are pleased to welcome Tom Gores as th...
Read morePress Releases • March 30, 2011
Platinum Equity Acquires Majority Interest in Keystone Automotive Operations, Inc.
LOS ANGELES, CA – Platinum Equity announced today that it has acquired a majority interest in Keystone Automotive Holdings, Inc., the parent company of Keystone Automotive Operations, Inc. (“Keystone”), and will work with the company’s management team on an operational plan to improve Keystone’s ability to compete in the specialty aftermarket auto parts industry. Platinum was previously Keystone’s largest bond holder and worked closely with Keystone and the company’s other debt holders to develop and execute a recapitalization plan that resulted in Platinum becoming the majori...
Read morePress Releases • March 14, 2011
Platinum Equity Company Ryerson Acquires Singer Steel
CHICAGO, IL – Ryerson Inc., a leading distributor and processor of metals in North America and China, announced today that it has acquired Singer Steel Company ("Singer"), a value-added flat rolled steel processor based in Streetsboro, Ohio. Terms of the transaction were not announced.Singer is a full-service steel value-added processor with state-of-the-art processing equipment. The company enjoys an excellent reputation in the market and serves a variety of industrial applications. For over 85 years and 4 generations, Singer Steel has consistently worked towards providing the finest materi...
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