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Press Releases • July 12, 2010
Platinum Equity Portfolio Company Ryerson Completes Buyout of China Joint Venture
CHICAGO, July 12 -- Ryerson Holding Corporation ("Ryerson"), a leading distributor and processor of metals in North America, today announced that via its subsidiaries it has acquired Van Shung Chong Holdings' ("VSC") 20 percent stake in Ryerson China Limited, a joint venture between Ryerson and VSC formed in 2006. Ryerson China Limited is now a wholly-owned Ryerson subsidiary. Terms of the transaction were not disclosed."Increasing our investment and acquiring the joint venture outright reflects our commitment and confidence in the Chinese market," said Frank Munoz, President of Ryerson China....
Read morePress Releases • March 31, 2010
Covad and Megapath Announce Merger Agreement
Merger Will Combine Nation’s Largest IP Broadband Footprint with Complete Suite of Managed Services San Jose and Costa Mesa, CA, March 31, 2010 – Covad Communications Company, a leading national provider of IP broadband services, and MegaPath Inc., a leading provider of managed IP data, voice and security services in North America, today announced an agreement to combine the operations of Covad and MegaPath.Pending federal and state regulatory approvals, the transaction will create one of the largest managed service local exchange carriers (MSLEC) in the United States. The combined busin...
Read moreMarch 26, 2010
Platinum Portfolio Company Ryerson Set to Profit in Industry Consolidation
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Read moreMarch 26, 2010
Michigan Governor Jennifer Granholm Tours Platinum Equity Portfolio Company
Longtime Four Winns employee Wendy Hunt remembers feelings of uncertainty and devastation when the boat manufacturer’s then-parent company filed for bankruptcy in June 2009. Hunt, a Lake City resident who joined Four Winns’ scheduling department in 1998, thought she was out of a job when her receptionist position was subsequently eliminated. "They always called me the voice of Four Winns," she recalled. But she avoided being laid off after the company transferred her to its maintenance department. Kristy Prince of Cadillac also kept her job in the wake of the bankruptcy filing....
Read moreMarch 17, 2010
Platinum Portfolio Company Ryerson and Industry Consolidation
Ryerson, a Platinum Equity portfolio company and Chicago based metal distributor and processor with service centers in the U.S. and Canada, is a key player in the ongoing consolidation of the 1,200-company, $153 billion metal services industry. Platinum acquired Ryerson in October 2007, and is preparing an initial public offering that may give it cash to fund purchases. Ryerson is a key player in the ongoing consolidation of the 1,200-company, $153-billion metal services industry Ryerson is the second largest player in the industry. In January, it acquired Texas Steel Processin...
Read morePress Releases • March 15, 2010
Matrix Telecom Acquires Excel Telecommunications from Denham Capital
DALLAS and BOSTON – March 15, 2010 - Matrix Telecom Inc. (“Matrix”), a Platinum Equity company and provider of voice and data services to small and medium enterprise and residential customers across the United States, and Denham Capital (“Denham”), an energy - and commodities-focused global private equity firm, today announced they have signed a definitive agreement for Matrix to acquire substantially all the customer relationships and assets of Irving-based Comtel Telcom Assets LP, operating as Excel Telecommunications (“Excel”) from Denham. Financial terms of the transaction we...
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