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Platinum Equity history, profile and corporate video

Platinum Equity specializes in acquiring and operating businesses throughout the world. Its portfolio of businesses share common characteristics across a variety of industries, including the automotive aftermarket (Wheel Pros), communications equipment and services (Ulticom), equipment rental and leasing services (Maxim Crane Works) and steel services (Ryerson). Recent acquisitions include Bridge Terminal Transport, CBS Outdoor International and MetoKote.”

“Platinum Equity History

The firm was founded in 1995 by Tom Gores. its Equity’s first acquisition was LSI, a company that generated computer graphics to re-create accidents for courtroom testimony. After purchasing it for $200,000, Platinum Equity focused on servicing existing customers and returning the company to profitability.

Over the next five years, between July 1996 and September 2001, the firm made 32 acquisitions with $226 million, and realized $940 million on those investments. These acquisitions included a call center (Foresight Software), networking gear (Racal Electronics), and voice and data service (Williams Communications). BusinessWeek ranked the firm number 10 on its 1999 list of the country’s top 20 private IT organizations, based on 1998 revenues.

During this period of acquisition growth, additional partners joined the firm and several other joined through key acquisitions starting in 1999.

The firm’s first fund, Platinum Equity Capital Partners, was raised in 2004 and had a 62.5% net internal rate of return as of June 30, 2009. For the second fund, Platinum Equity Capital Partners II, which closed in September 2008, despite uncertainty in the financial markets. the firm initially sought a $1.5 billion leveraged buyout fund and nearly doubled it by raising $2.75 billion.

In 2009, during the financial crisis, Platinum Equity acquired 14 companies in the first 11 months of 2009, eight of them full buyouts.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “PlatinumEquity