M&A Deal Summary

Platinum Equity Acquires ASB

On January 9, 2024, private equity firm Platinum Equity acquired apparel/textiles company ASB from Kelso

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Apparel/Textiles sector.
  • This is Platinum Equity’s 111th transaction in the United States.
  • This is Platinum Equity’s 7th transaction in Georgia.

M&A Deal Summary

Date 2024-01-09
Target ASB
Sector Apparel/Textiles
Buyer(s) Platinum Equity
Sellers(s) Kelso
Deal Type Secondary Buyout

Target

ASB

Grovetown, Georgia, United States
website
ASB is a designer, manufacturer, and distributor of athletic-oriented apparel, team uniforms, sportswear and related accessories. ASB was founded in 1977 and is based in Grovetown, Georgia.

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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 48.0B 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 139 of 141
Sector (Apparel/Textiles) 4 of 4
Type (Secondary Buyout) 36 of 37
State (Georgia) 7 of 7
Country (United States) 111 of 112
Year (2024) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-02 Horizon Organic

Broomfield, Colorado, United States

Horizon Organic is a brand of certified organic foods in the United States and a brand of certified organic milk in both the United States and the United Kingdom. Horizon Organic is based in Broomfield, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 E&A Scheer

Amsterdam, Netherlands

E&A Scheer is a global blender and vendor of premium rum in bulk. E&A Scheer is based in Amsterdam, Netherlands.

Buy -

Seller(S) 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 52 of 53
Sector (Apparel/Textiles) 2 of 2
Type (Secondary Buyout) 13 of 13
State (Georgia) 6 of 6
Country (United States) 45 of 46
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Armada Materials

Tampa, Florida, United States

Armada Materials is a producer of aggregates, asphalt, and other infrastructure materials and services. Armada Materials is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-01 Emtec

Jacksonville, Florida, United States

Emtec provides information technology (IT) services and products to the federal, state, and local government, education, and commercial markets. It helps clients identify and prioritize areas for improvement and then implement the process, technology, and business application improvements that reduce costs, improve service and align the delivery of IT with the needs of their organizations. Emtec was founded in 1964 and is based in Jacksonville, Florida.

Sell -