Jostens Announces $640 Million Dividend Recap
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Press Releases • October 09, 2008
Platinum Equity to Purchase SCM Metal Products from Gibraltar
LOS ANGELES, CA (October 9, 2008) – Platinum Equity announced today it has signed a definitive agreement to purchase SCM Metal Products, Inc. from Gibraltar Industries, Inc. (NASDAQ: ROCK) for an undisclosed amount. SCM is a global leader in the manufacturing and distribution of copper-based powder and pastes and copper oxide powders to a broad range of industries. “This is a very exciting time for all of us at SCM,” said Barton White, President of SCM. “We expect to have additional resources to grow our business both organically and through M&A transactions. There are many oppo...
Read morePress Releases • September 03, 2008
Platinum Equity Closes $2.75 Billion Private Equity Fund
LOS ANGELES, CA (September 3, 2008) – Substantially exceeding its original target, Platinum Equity today announced the closing of a $2.75 billion leveraged buyout fund focused on acquiring businesses that can benefit from Platinum’s operational expertise and resources. Platinum launched fundraising with a target of $1.5 billion in committed capital, but strong investor demand and a rising tide of deal opportunities compelled the firm to increase the fund size to $2.75 billion for Platinum Equity Capital Partners II (“Fund II”). Fund I’s performance was at the top of its peer group...
Read morePress Releases • August 04, 2008
Platinum Equity Completes Sale of PNA Group
LOS ANGELES (August 4, 2008) – Platinum Equity announced today that it has completed the sale of portfolio company PNA Group, a leading processor and distributor of metals products, to Reliance Steel & Aluminum Co. (NYSE:RS) in a transaction valued at approximately $1.1 billion. The divestiture transaction was previously announced in June. Platinum acquired PNA Group in May, 2006 and created substantial value in the business through a combination of operational initiatives and add-on acquisitions. PNA’s revenue in 2007 was approximately $1.6 billion, up from approximately $1.2 billi...
Read morePress Releases • July 02, 2008
Maxim Crane Works Announces Completion of Merger with Platinum Equity
PITTSBURGH, July 2 /PRNewswire-FirstCall/ -- MAXIM CRANE WORKS HOLDINGS, INC. (OTC: MXMC.PK - News; "Maxim Crane") today announced that affiliates of Platinum Equity Capital Partners II, L.P. ("Platinum Equity") have completed the acquisition of Maxim Crane pursuant to the terms of the Merger Agreement it entered into on May 5, 2008. As part of the transaction, Platinum Equity acquired all of the outstanding shares of Maxim Crane for $42.50 per share. The Merger was approved at a Special Meeting of Stockholders on June 11, 2008. “Maxim Crane is the largest crane rental company in the worl...
Read morePress Releases • June 17, 2008
Platinum Equity Signs Agreement to Sell PNA Group
LOS ANGELES (June 17, 2008) – Platinum Equity announced today that it has signed a definitive agreement to sell PNA Group, a leading processor and distributor of steel products, to Reliance Steel & Aluminum Co. (NYSE:RS) in a transaction valued at approximately $1.1 billion. The transaction is expected to be finalized within the next 60 days, subject to normal closing conditions including regulatory approval. Platinum acquired PNA Group in May, 2006 and created substantial value in the business through a combination of operational initiatives and add-on acquisitions. PNA’s revenu...
Read morePress Releases • May 09, 2008
Platinum Equity Integrates American Racing, Wheel Pros
Leading High Performance Wheel Brands Are United in Single Powerhouse Company LOS ANGELES (May 9, 2008) – Platinum Equity announced today the integration of American Racing and Wheel Pros, two leading distributors of high performance wheels and tires to the automotive aftermarket. The combined company will offer a comprehensive portfolio of wheel products comprising the industry’s best known and most enduring wheel brands, including the full lineup of existing American Racing and Wheel Pros products. “This is an incredibly powerful combination that unites two of the best names i...
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