M&A Deal Summary

Platinum Equity Acquires Club Car

On April 12, 2021, private equity firm Platinum Equity acquired automotive company Club Car from IR for 1.7B USD

Acquisition Highlights
  • This is Platinum Equity’s 5th transaction in the Automotive sector.
  • This is Platinum Equity’s 11th largest (disclosed) transaction.
  • This is Platinum Equity’s 95th transaction in the United States.
  • This is Platinum Equity’s 7th transaction in Georgia.

M&A Deal Summary

Date 2021-04-12
Target Club Car
Sector Automotive
Buyer(s) Platinum Equity
Sellers(s) IR
Deal Type Divestiture
Deal Value 1.7B USD

Target

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.

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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 118 of 148
Sector (Automotive) 5 of 5
Type (Divestiture) 54 of 59
State (Georgia) 7 of 9
Country (United States) 95 of 116
Year (2021) 4 of 14
Size (of disclosed) 11 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 Cabinetworks Group

Livonia, Michigan, United States

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 Livonia, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Game Taco

San Francisco, California, United States

Game Taco is an online skill-based game tournament platform. It is designed to provide a fun, friendly, and trusted destination for users to play skill-based games against opponents of similar ability for fun and cash prizes. In addition to classic games like Solitaire, Game Taco is the exclusive provider of Atari skill games including Breakout, Asteroids, and Centipede. Game Taco was founded in 2016 and is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

IR

Davidson, North Carolina, United States

Category Company
Founded 1859
Sector Machinery
Employees18,000
Revenue 6.8B USD (2023)
DESCRIPTION

IR is a manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. IR was founded in 1859 and is based in Davidson, Wisconsin.


DEAL STATS #
Overall 8 of 8
Sector (Automotive) 1 of 1
Type (Divestiture) 5 of 5
State (Georgia) 1 of 1
Country (United States) 7 of 7
Year (2021) 2 of 2
Size (of disclosed) 1 of 4
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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 Seepex

Bottrop, Germany

Seepex is a manufacturer of progressive cavity pumps, a segment of positive displacement pumps that primarily serves water, wastewater, food and beverage, and chemical end markets. Based in Bottrop, Germany with facilities in North America and the Asia Pacific. Seepex is based in Bottrop, Germany.

Buy €432M