M&A Deal Summary

Platinum Equity Acquires Cabinetworks Group

On April 5, 2021, private equity firm Platinum Equity acquired building materials company Cabinetworks Group from American Industrial Partners

Acquisition Highlights
  • This is Platinum Equity’s 5th transaction in the Building Materials sector.
  • This is Platinum Equity’s 94th transaction in the United States.
  • This is Platinum Equity’s 6th transaction in Michigan.

M&A Deal Summary

Date 2021-04-05
Target Cabinetworks Group
Sector Building Materials
Buyer(s) Platinum Equity
Sellers(s) American Industrial Partners
Deal Type Secondary Buyout
Advisor(s) BofA Securities (Financial)

Target

Cabinetworks Group

Ann Arbor, Michigan, United States
website
Cabinetworks Group is a manufacturer of kitchen and bath cabinets, offering a highly-diverse product portfolio of framed and frameless cabinetry that spans the continuum from value-priced options to nearly custom. The Company serves both the R&R and new construction markets through dealers, distributors, home builders, and home centers. Through its manufacturing facilities and service centers strategically located through the United States, Cabinetworks delivers iconic brands including Advanta®, Cabinets 2000, Cardell®, Design-Craft®, Echelon®, KraftMaid®, Master WoodCraft™, MasterCraft™, Medallion®, Merillat®, Modico™, QualityCabinets™, Schuler®, Serenade™, Smart®, Studio Full Access™, and Yorktowne®. Cabinetworks Group is based in Ann Arbor, Michigan.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 117 of 141
Sector (Building Materials) 5 of 8
Type (Secondary Buyout) 25 of 37
State (Michigan) 6 of 6
Country (United States) 94 of 112
Year (2021) 3 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-08 NDC

Nashville, Tennessee, United States

NDC is a distributor of medical supplies to the healthcare industry. The company operates as a master distributor, purchasing medical supplies directly from manufacturers and providing a broad product line to local, regional, and national distributors who handle the last mile delivery direct to health care providers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-12 Club Car

Evans, Georgia, United States

Club Car is a global manufacturer of golf cars, utility, personal transportation, and other low-speed vehicles, including all-electric models, and related aftermarket parts and services. Club Carwas formed in 1958 and is based in Evans, Georgia.

Buy $1.7B

Seller(S) 1

SELLER

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


DEAL STATS #
Overall 21 of 24
Sector (Building Materials) 1 of 2
Type (Secondary Buyout) 8 of 9
State (Michigan) 1 of 1
Country (United States) 19 of 22
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 GD Energy Products

Houston, Texas, United States

GD Energy Products is a market leader in the design and manufacture of positive displacement pumps and associated aftermarket parts, consumables, and services primarily for North American unconventional oil & gas and other industrial end markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 Aluminium Dunkerque

Dunkerque, France

Aluminium Dunkerque is Europe’s largest primary aluminium smelter, located in Dunkerque, France. Aluminium Dunkerque has a competitive position highlighted by its access to attractive, low-carbon power and focus on value-added products for the packaging, automotive, aerospace and general industrial end markets.

Buy -