Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity began its operations with the $200,000 acquisition of LSI, transforming it into a profitable entity by focusing on customer service. Between 1996 and 2001, the firm rapidly expanded through 32 acquisitions totaling $226 million, targeting sectors such as networking gear and telecommunications. By 1999, it was recognized as one of the top private IT organizations in the United States based on revenue.

The firm transition to institutional fund management in 2004 with its first dedicated buyout fund. Despite the financial volatility of the late 2000s, Platinum Equity effectively raised $2.75 billion for its second fund in 2008 and remained highly active during the Great Recession. The firm has since expanded its global footprint with offices in Boston, London, and Singapore while consistently ranking among the largest private equity firms globally.

Platinum Equity is known for a high-velocity acquisition strategy, often focusing on complex operational turnarounds and carve-outs from larger corporations. Notable activities include the $7.2 billion acquisition of Ingram Micro and the $4 billion carve-out of Emerson Electric's Network Power business, which was rebranded as Vertiv. The firm also maintains a high-profile presence in professional sports through Tom Gores' ownership of the Detroit Pistons.