M&A Deal Summary

Platinum Equity Acquires HC Companies

On July 17, 2023, private equity firm Platinum Equity acquired plastics company HC Companies from Wingate Partners

Acquisition Highlights
  • This is Platinum Equity’s 2nd transaction in the Plastics sector.
  • This is Platinum Equity’s 107th transaction in the United States.
  • This is Platinum Equity’s 8th transaction in Ohio.

M&A Deal Summary

Date 2023-07-17
Target HC Companies
Sector Plastics
Buyer(s) Platinum Equity
Sellers(s) Wingate Partners
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)
Haynes and Boone (Legal)

Target

HC Companies

Twinsburg, Ohio, United States
HC Companies is a provider of plastic plant, flower, and tree containers (horticulture containers) for the greenhouse, nursery, and retail markets under the brand names Dillen, ITML, ProCal, Listo, Akro-Mils Lawn & Garden, and Planters' Pride. HC Companies is based in Twinsburg, Ohio.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


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 135 of 146
Sector (Plastics) 2 of 2
Type (Secondary Buyout) 34 of 40
State (Ohio) 8 of 8
Country (United States) 107 of 115
Year (2023) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-16 JELD-WEN Australasia

Macquarie Park, Australia

JELD-WEN Australasia provides products and services to projects around the globe for residential, multi-residential, and commercial markets. Through its brands, the company provides windows, doors, architectural glass, showers, wardrobes, and other building products for customers and local communities. Its brands include Stegbar, Corinthian Doors, A&L Windows, Trend Windows, Aneeta Windows, Breezway, Regency, and William Russell Doors, along with architectural glass facilities. JELD-WEN Australasia is based in Macquarie Park, Australia.

Buy $461M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-29 Cook & Boardman

Winston-Salem, North Carolina, United States

Cook & Boardman offers a broad range of products including metal and wood doors, locks, doorframes, and other related building components for non-residential applications. The Company operates a network of thirty-five locations across eleven states and services its customers nationwide. Cook & Boardman was founded in 1955 and is based in Winston-Salem, North Carolina.

Buy -

Seller(S) 1

SELLER

Wingate Partners

Dallas, Texas, United States

Investor Investor Investor


Category Private Equity Firm
Founded 1987
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Wingate Partners is a turnaround investment firm that purchases controlling stakes in troubled manufacturing, distribution and service businesses headquartered in the US. Wingate looks to acquire under-performing companies, profitable businesses in changing or out of favor industries, and companies with incomplete management teams. Target businesses typically have revenues between $50 and $250 million. Wingate will not invest in banking, insurance, real estate, media, natural resources, and high technology. Wingate Partners was formed in 1987 and is based in Dallas, Texas.


DEAL STATS #
Overall 22 of 22
Sector (Plastics) 1 of 1
Type (Secondary Buyout) 10 of 10
State (Ohio) 3 of 3
Country (United States) 22 of 22
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 USA Environment

Deer Park, Texas, United States

USA Environment is a full-service environmental & industrial contractor with construction expertise in environmental remediation, industrial services, RAD / NORM services as well as ecological restoration. USA Environment was founded in 1991 and is based in Deer Park, Texas.

Sell -