11 Facts About Platinum Equity

Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995.

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

In 2011, Platinum Equity became a major sponsor of the Detroit Pistons basketball team, which saw Gores as the new owner.

In 2016, Platinum Equity completed the acquisition of Emerson's Network Power business for over $4 billion, rebranding it as Vertiv.

In 2017, Platinum Equity completed the acquisition of the Staples business in Australia and New Zealand from Staples Inc, relaunching it as Winc.

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Since 1995, Platinum Equity has made over 200 acquisitions across a broad array of industries, including information technology, telecommunications, logistics and distribution, industrials, manufacturing, media, real estate, prison communications and automotive.

In 2002, Platinum combined Health Care Products, a division of Royal Philips Electronics, and Diagnostic Imaging, a subsidiary of PSS World Medical into a single company called SourceOne Healthcare Technologies.

In early 2019, Platinum Equity completed the purchase of customs broker and freight forwarder Livingston International for an undisclosed sum, acquiring the firm from Sterling Partners and the Canada Pension Plan Investment Board.

In November 2020, Platinum Equity announced the sale of PrimeSource, a global distributor of specialty building materials, to Clearlake Capital Group.

In 2017, Platinum Equity acquired prison communication firm Securus Technologies.

In 2019, Platinum Equity announced plans to reorganize the company as a more diverse technology company, and created Aventiv Technologies as Securus' new corporate parent.