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New York City Makes Mammoth $1.1B In PE Commitments

The New York City Retirement Systems, the $127 billion group of municipal pensions overseen by the city comptroller’s office, made an impressive $1.1 billion in commitments to five private equity funds in the first quarter, according to Stephanie Hoo, a senior press officer. According to sister magazine, Buyouts, the funds are managed by The Carlyle Group, Platinum Equity…

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Checkpoint Systems Sells CheckView to Platinum Equity

Publicly-traded Checkpoint Systems Inc. said it would sell its U.S. and Canadian CheckView business unit to California-based buyout shop Platinum Equity. The sale includes all continuing business operations and assets associated with the U.S. and Canadian retail security-oriented CheckView organization, the company said. The transaction is expected to close by the end of April 2013.

Platinum Equity to Sell Contego Healthcare Business

Platinum Equity has signed an agreement to sell Contego Healthcare Limited to FIL International Limited, a subsidiary of Filtrona for a cash consideration of approximately £160 million ($242 million). The change in ownership is expected to occur during the second quarter of 2013.

Platinum Equity Inks Sale of Contego Cartons

Graphic Packaging Holding Co. has agreed to buy Contego Cartons. Platinum Equity is the seller. Graphic Packaging will pay approximately £71 million (US$112.7 million) in cash and assume approximately £10 million (US$15.9 million) in other net liabilities. Contego Cartons operates three folding carton facilities that convert about 150,000 tons of paperboard annually into folding cartons for […]

Platinum Equity Closes Sale of BWAY

Platinum Equity has completed its $1.24 billion buy of BWAY Parent Co. The seller was Madison Dearborn Partners. Goldman, Sachs & Co., Barclays and Deutsche Bank Securities provided financial advice to BWAY. Bookrunners for debt financing were Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs. Atlanta-based BWAY makes paint and aerosol cans as well as steel open and tight-headed pails.

Madison Dearborn Makes Nearly 2x Their Money on BWAY

It only took two years for Madison Dearborn Partners to nearly double its money on BWAY Parent Co.
Platinum Equity said earlier this week that it agreed to buy BWAY, an Atlanta packaging company, for $1.24 billion. The sale is expected to close in fourth quarter.

Caterpillar Completes Sale of Third Party Logistics Business to Platinum

Platinum Equity has acquired a majority interest in Caterpillar Logistics Services. Caterpillar will retain a 35 percent equity stake in the business. The transaction is valued at approximately $750 million. Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. PRESS RELEASE Caterpillar Inc. CAT […]

Crystal Financial Provides Financing to Megapath

Crystal Financial has served as the co-arranger on a $165-million, senior-secured term loan facility to MegaPath, a portfolio company of Platinum Equity. The proceeds of the loan were used to refinance existing debt. MegaPath is a provider of bundled managed services and IP broadband access solutions for small- to medium-sized businesses. PRESS RELEASE Crystal Financial […]

Platinum Equity’s Quark Acquires Mobile IQ

Publishing software business Quark has acquired Mobile IQ, creators of PressRunTM, a cloud-based digital publishing solution. Quark was acquired by Platinum Equity in August 2011 and has been working with Platinum’s M&A team to identify and pursue growth opportunities. PRESS RELEASE Quark announced today its acquisition of Mobile IQ, creators of PressRunTM, the cloud-based digital […]

Platinum Equity to Acquire DMS Health Technologies

Platinum Equity, the L.A.-based private equity firm, is buying medical imaging equipment seller and distributor DMS Health Technologies from its parent company, Otter Tail Corporation. Terms of the deal aren’t being disclosed. DMS is a distributor of Philips Healthcare diagnostic imaging equipment and patient monitoring equipment in the upper Midwest; sells supplies and accessories, and reconditioned […]

Platinum Completes Fifth Divestiture in Four Months

Platinum Equity has completed the sale of 3B to Binani Industries Limited. Headquartered in Battice, Belgium, 3B produces fiberglass composite materials and is a supplier to the automotive, wind energy and other industries. With the sale of 3B, Platinum has completed five divestitures in the last four months – Canvas Systems in January 2012, The […]

Platinum Equity Exits Canvas Systems

Platinum Equity has sold Canvas Systems, a supplier of IT hardware and services, to publicly traded Avnet Inc. Terms were not released. Platinum acquired controlling interest in Canvas in 2009 from OHC. OHC retained a minority interest in Canvas, which it also sold as a part of the deal.

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Platinum Keen on Transport Deal

Keen Transport Inc., the Pennsylvania-based logistics and transportation services provider for heavy equipment businesses, has been acquired by Platinum Equity. Specifics of the deal were not disclosed; M&T Investment Banking Group was the adviser to the Keen family for the deal.

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