Platinum Equity is acquiring Pitney Bowes’ global production mail business for $361 million, it was announced April 30, 2018. But who is Platinum Equity? And what ties does it already have to the mail industry?
The answer will surprise you. Platinum’s portfolio includes several industry-related companies most notably Valpak, the direct mail marketing company. It also owns shipping-auditor Data2Logistics and supply chain service provider PattonAir.
Platinum Equity’s specialty is acquiring and operating businesses that have been part of large corporate entities. Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world.
The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed more than 200 acquisitions.
“DMT is a leader in its market with all the tools it needs to thrive as a standalone business. It has a broad range of advanced inserting, sorting and print solutions and a committed global workforce that delivers world-class client satisfaction,” said Platinum Equity Principal Adam Cooper. “We look forward to partnering with the management team to drive operational excellence and invest in growth, both organically and through prospective strategic acquisitions.”