M&A Deal Summary

Platinum Equity Acquires Neovia Logistics

On August 1, 2012, private equity firm Platinum Equity acquired transportation company Neovia Logistics from Caterpillar for 750M USD

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Transportation sector.
  • This is Platinum Equity’s 18th largest (disclosed) transaction.
  • This is Platinum Equity’s 46th transaction in the United States.
  • This is Platinum Equity’s 3rd transaction in Texas.
Investment Fate
  • Neovia Logistics was sold to a consortium of financial buyers in 2014.

M&A Deal Summary

Date 2012-08-01
Target Neovia Logistics
Sector Transportation
Buyer(s) Platinum Equity
Sellers(s) Caterpillar
Deal Type Divestiture
Deal Value 750M USD

Target

Neovia Logistics

Irving, Texas, United States
website
Neovia Logistics is a provider of integrated logistics services, including service parts logistics, warehousing, business support services, order and inventory management, and other value-added services. Neovia Logistics was founded in 1987 and is based in Irving, Texas.

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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 53 of 141
Sector (Transportation) 4 of 7
Type (Divestiture) 27 of 59
State (Texas) 3 of 7
Country (United States) 46 of 112
Year (2012) 3 of 5
Size (of disclosed) 18 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-01 DMS Health Technologies

Fargo, North Dakota, United States

DMS Health Technologies offers a wide range of imaging services including mobile, interim, and fixed-site solutions. DMS Health Technologies was founded in 1972 and is based in Fargo, North Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-08 Clipper Windpower

Cedar Rapids, Iowa, United States

Clipper Windpower is a wind energy technology, turbine manufacturing and wind project development company.

Buy -

Seller(S) 1

SELLER

Caterpillar

Irving, Texas, United States

website


Category Company
Founded 1925
Sector Machinery
Employees109,100
Revenue 59.4B USD (2022)
DESCRIPTION
Caterpillar's corporate headquarters in Deerfield, Illinois.
Caterpillar's corporate headquarters in Deerfield, Illinois.

Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Caterpillar principally operates through three product segments. These include Resource Industries, Construction Industries, and Energy & Transportation. Caterpillar also provides financing and related services through its Financial Products segment. Caterpillar was incorporated in 1925 and is based in Irving, Texas.


DEAL STATS #
Overall 5 of 8
Sector (Transportation) 1 of 1
Type (Divestiture) 4 of 7
State (Texas) 1 of 1
Country (United States) 3 of 5
Year (2012) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-18 Caterpillar - Distribution Business

United Kingdom

Caterpillar - Distribution Business operates a construction, mining and agricultural machinery parts distribution center, includes facilities and inventory primarily in South America and Canada.

Sell $465M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 Johan Walter Berg AB

Ockero, Sweden

Berg Propulsion is a designer and producer of Controllable Pitch Propellers for the shipping industry. Berg delivers fully customized main propellers, azimuth thrusters, transverse thrusters and manoeuvre systems, and 24-hour service. Berg Propulsion operates from production facilities in Sweden and Singapore, with sales and marketing offices in China (Shanghai and Guangzhou), Turkey, Dubai, Singapore, Germany, Spain, Brazil, Italy, West Africa, India, South Korea and the Swedish west coast.

Buy -