July 21, 2005 |
Beverly Hills-based investment firm Platinum Equity has bought custom wheel maker American Racing Equipment Inc. from Noranda Aluminum Inc. for an undisclosed amount, the companies are expected to announce today. Rancho Dominguez-based American Racing Equipment employs 1,400 people across North America. Founded in 1956 by Romeo Palamides, an early drag racing innovator, the company helped spark the custom wheels craze in the early 1960s with the introduction of its five-spoke Torq Thrust wheel.
November 19, 2004 |
Continuing its acquisition spree, Los Angeles private investment firm Platinum Equity said Thursday that it would acquire General Electric Co.'s IT Solutions unit for undisclosed terms. The purchase, expected to be completed by year-end pending regulatory approval, would be Platinum's seventh in 2004. Platinum Equity, which has a portfolio of 22 operating companies, plans to integrate Erlanger, Ky.
July 23, 2003 |
Los Angeles-based Platinum Equity said it bought the service division of Kemper Insurance Cos. for an undisclosed sum. Platinum said it would keep the management team at Kemper Services, which handles property and casualty claims management, safety consulting and related services for Kemper and for third-party insurers and employers. Oak Grove, Ill.-based Kemper is exiting the insurance business and selling its assets.