Posted by: Sherlock
Gupta's parent company atleast is not short on cash. 34th biggest in U.S is
not something you can ignore.
November 07, 2003 01:00 PM US Eastern Timezone
Platinum Equity is 34th Largest Private Company in America; Global
Investment Firm Ranked No. 1 Among Companies Based in Los Angeles
LOS ANGELES--(BUSINESS WIRE)--Nov. 7, 2003--Platinum Equity, a global
acquisition firm headquartered in Los Angeles, is the 34th largest private
company in America according to Forbes magazine's annual listing of U.S.
private companies with revenues of $1 billion or more.
Forbes released its 2003 list of America's Largest Private Companies on
Thursday. Platinum Equity was ranked 34th, with revenues of $4 billion from
its portfolio of operating companies. The full list, which will be published
in the magazine's Nov. 24 edition, is accessible at www.forbes.com.
Previously, Platinum Equity was identified by the Los Angeles Business
Journal as No. 1 on its list of the largest private companies in Los
Angeles. That list was published by the newspaper on Oct. 27.
Platinum Equity first appeared on the Forbes List of Largest Private
Companies in 1999, at Number 343. Since then, the firm has steadily climbed
the annual rankings, to 326th in 2000, 75th in 2001, 44th in 2002 and 34th
"These rankings provide a tangible measure of Platinum's extraordinary
growth," said Rob Joubran, the firm's chief operating officer. "We have been
very successful in acquiring companies and building market leaders in key
"They also signify the hard work and commitment of every employee at
Platinum Equity and its operating companies," Mr. Joubran said. "We could
not have built one of the largest private companies in America without the
dedicated efforts of our employees, and the confidence of customers served
by our portfolio companies."
Platinum's operating portfolio currently includes 19 companies with
aggregate revenue of more than $4 billion, and an aggregate employee base of
more than 16,000 worldwide. Privately held by financier Tom T. Gores, the
firm has completed 39 acquisitions since 1995.
Platinum typically invests in companies that provide mission-critical
products and services to enterprise customers. Generally, these
mission-critical products and services encompass the technology tools that
are essential to the operation of a company's business, and whose potential
loss or disruption could severely impact the customer's operations and
Platinum Equity's approach is unique among buyout firms in that its M&A
capabilities are complemented by a comprehensive team of in-house transition
and operations experts who help ensure a swift and smooth transition and
unlock value in the acquired companies. Through this operations-intensive
"M&A&O(SM)" approach, Platinum also builds value by successfully integrating
Significant recent acquisitions include:
-- In July 2003, Platinum acquired Kemper Services / NATLSCO, the service
platform of the Kemper Insurance Companies in North America. The business,
renamed Broadspire (www.choosebroadspire.com), provides claims management
services; disability, integrated return-to-work and absentee management
programs; medical management services; and risk and safety consulting
services to Fortune 1000 enterprise customers.
-- In November 2002, Platinum simultaneously acquired and merged two
competing distribution and service businesses that provide radiology
equipment and supplies to hospitals and health care centers in North
America. The two acquired companies were the Health Care Products division
of Royal Philips Electronics; and Diagnostic Imaging Inc., a subsidiary of
PSS World Medical Inc. They were merged to form SourceOne Healthcare
Technologies Inc. (www.sourceonehealth.com), the largest independent
domestic distributor of radiology equipment and supplies in North America.
-- In April 2002, Platinum acquired the European operations of Alcatel's
enterprise distribution and services business, a multi-national organization
providing voice, data and convergence solutions and services to companies
throughout Europe. Platinum transformed this business into NextiraOne Europe
(www.nextiraone-eu.com), a leading provider of voice, data and convergence
and solutions to enterprise customers across Europe. The business is closely
aligned with a sister company in North America, NextiraOne
(www.nextiraone.com), and their customer base includes a large percentage of
the Fortune 1000 - including every one of the top 50 companies.
Further information about Platinum Equity and its portfolio companies is
available at www.platinumequity.com. Attached for reference is a current
list of Platinum's 19 operating companies.