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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December 10, 2010
Renewable Energy Device Supplier KEMET is Back
E•Boom Finance coverage of the role Platinum Equity played in the survival and long-term fitness of capacitor manufacturer KEMET. A global supplier of devices critical to the renewable energy and other sectors, KEMET went public in October 1992. When its markets collapsed in 2008 and with looming debt repayment deadlines, KEMET shares plummeted and the company was delisted from the New York Stock Exchange. Platinum Equity met with the KEMET management team and created an equity financing deal that was key to KEMET's survival. Relieved of much of its financial pressure, KEMET was able t...
Read morePress Releases • December 03, 2010
Platinum Equity Acquires Ulticom
Los Angeles, CA —Platinum Equity announced today that it has completed the acquisition of Ulticom, Inc., a provider of signaling software used in communications networks. The acquisition was a public-to-private transaction in which Platinum Equity acquired outstanding shares of Ulticom stock for merger consideration of $2.33 per share, after payment of a special dividend in the amount of $5.74 per share in cash. Shares of Ulticom stock held by Ulticom’s controlling shareholder, Comverse Technology, Inc., did not receive merger consideration but were instead purchased pursuant to a sha...
Read morePress Releases • December 01, 2010
Platinum Equity Acquires Ecka Granules Assets
Los Angeles, CA —Platinum Equity announced today it has acquired substantially all material assets of ECKA Granules, a Germany-based manufacturer and distributor of metal powders to a broad range of industries. The acquisition which includes copper, aluminum and magnesium powder manufacturing plants and sales offices will, upon registration of all share transfers, include Australia, Austria, Bahrain, China, Germany, Slovenia, Switzerland, the U.K. and the United States. Terms of the transaction were not disclosed. Platinum also owns SCM Metal Products, Inc., a U.S. manufacturer and dis...
Read morePress Releases • November 29, 2010
Ryerson Announces New Iowa Plate Processing Center
CHICAGO -- Ryerson Inc., a leading processor and distributor of metals in North America and China today announced that it will open a plate processing center in Eldridge, Iowa. The 175,000-square-foot facility is expected to begin operations in July 2011. The processing capabilities include laser cutting, plasma and oxy-fuel burning, robotic beveling, plate blasting, machining and press brake bending."This new facility is a platform for serving our customers' growing demand for the processed carbon plate market in the Midwest. The expanded capabilities combined with the strategic location and ...
Read moreNovember 12, 2010
Pomeroy in Turnaround as Private Firm
HEBRON, KY -- (By Lisa Bernard-Kuhn, Cincinnati Enquirer) After struggling for nearly four years to turn a steady profit, Pomeroy IT Solutions says it's in the midst of a successful turnaround as a private company focused on long-term growth. Roughly one year ago, shareholders of the Hebron-based tech company approved a $68 million deal to transform the 28-year-old publicly traded business into a privately held firm. Since then, Pomeroy has grown its local workforce by 150 employees, returned to profitability and completed an acquisition that's expanded the company's reach into Canada and E...
Read morePress Releases • November 11, 2010
Ryerson Names Michael C. Arnold President and CEO
CHICAGO, IL – November 11, 2010 – Ryerson, a leading processor and distributor of metals in North America, today announced the appointment of Michael C. Arnold to the position of president and chief executive officer, effective January 10, 2011. Mr. Arnold, 54, replaces Stephen E. Makarewicz, 63, who announced in May 2010 his plan to retire and will leave after the beginning of the year once the transition is complete.“We conducted a global search and found the strongest and the best candidate to lead Ryerson into the future,” said Ryerson director Robert L. Archambault, who preceded M...
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