LOS ANGELES, CA--(Marketwired - Nov 22, 2013) - Platinum Equity announced today that it has completed the acquisition of a 51 percent controlling stake in Emerson's Embedded Computing & Power (EC&P) business. Emerson (
The EC&P business is a global technology leader in the development of power conversion and embedded computing solutions for communications, computing and industrial applications. Platinum Equity will establish EC&P as a standalone enterprise under a new corporate identity that will be announced at a later date.
Platinum Equity Partner Jacob Kotzubei said he is excited about EC&P's prospects under new ownership.
"We will work with EC&P's management team to help the business achieve new levels of success as a stand-alone company. Together we will strengthen and reinforce the company's customer-centric culture and commitment to delivering highly-engineered products and technologies to EC&P's customers," said Mr. Kotzubei. "The business has tremendous growth potential, both organically and through prospective complementary add-on investments."
A team that includes Platinum Equity in-house operations specialists is focused on transitioning the newly acquired business. A rebranding initiative is underway, and a new company name and image will be announced as that process unfolds.
Mr. Kotzubei said he looks forward to the continued partnership with Emerson.
"We created a customized divestiture solution that met Emerson's needs and was also good for EC&P," said Mr. Kotzubei. "We look forward to working together with Emerson as partners to create real long-term value in this business."
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 150 acquisitions. The firm recently completed raising Platinum Equity Capital Partners III, a $3.75 billion buyout fund focused on investing in businesses that can benefit from Platinum Equity's operational expertise.
The Embedded Computing & Power business (EC&P) is a trusted, global leader in the development, design and manufacture of highly reliable power conversion and mission critical embedded computing technology solutions for communications, computing and industrial markets. EC&P's extensive portfolio of embedded computing and power products and services helps accelerate time-to-market, and provides scalable and cost-effective solutions for its customers.