June 22, 2009 |
Platinum Equity, the Beverly Hills investment firm, is hitting a few speed bumps in its quest to buy bankrupt auto parts maker Delphi Corp. The proposed $3.6-billion acquisition has the backing of Delphi's former owner and largest customer, General Motors Corp., as well as the federal government. But opposition from some of Delphi's creditors has raised the possibility that other bidders may emerge to challenge Platinum.
December 28, 2007 |
Buyout firm Platinum Equity says it wants to renegotiate its planned $500-million purchase of PPG Industries Inc.'s automotive glass unit, alleging that the paint maker had misrepresented the health of the business.
July 25, 2007 |
Beverly Hills-based buyout firm Platinum Equity said Tuesday it had agreed to acquire Ryerson Inc., a Chicago-based steel distributor and processor, for about $1 billion in cash. For Platinum, known for taking over high-tech companies, Ryerson would be its third steel industry acquisition in less than three years. The private equity firm, which is led by billionaire Tom Gores, agreed to pay $34.50 a share for Ryerson and to assume about $1 billion in debt.
August 16, 2005
As expected, Platinum Equity, a buyout company owned by billionaire Tom Gores, agreed to acquire struggling computer modem maker U.S. Robotics Corp. Terms weren't disclosed.
August 15, 2005 |
Platinum Equity, the buyout firm owned by billionaire Tom Gores, is acquiring computer modem maker U.S. Robotics Corp. in an all-cash deal, the companies are expected to announce today. Neither side would reveal terms of the sale. Last year, however, Robotics Chief Executive Joseph J. Hartnett told an interviewer that he was looking for a buyer willing to pay between $30 million and $50 million for the Schaumburg, Ill., company. U.S.
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.