M&A Deal Summary

Platinum Equity Acquires BlueCrest

On April 30, 2018, private equity firm Platinum Equity acquired machinery company BlueCrest from Pitney Bowes for 361M USD

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Machinery sector.
  • This is Platinum Equity’s 23rd largest (disclosed) transaction.
  • This is Platinum Equity’s 75th transaction in the United States.
  • This is Platinum Equity’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2018-04-30
Target BlueCrest
Sector Machinery
Buyer(s) Platinum Equity
Sellers(s) Pitney Bowes
Deal Type Divestiture
Deal Value 361M USD

Target

BlueCrest

Danbury, Connecticut, United States
BlueCrest is a global provider of inserting, sorting, and printing related equipment primarily for the transactional and direct mail industries. BlueCrest was formed in 2018 and is based in Danbury, Connecticut.

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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 92 of 148
Sector (Machinery) 4 of 5
Type (Divestiture) 47 of 59
State (Connecticut) 1 of 1
Country (United States) 75 of 116
Year (2018) 5 of 10
Size (of disclosed) 23 of 31
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-03 MXD Group

Westerville, Ohio, United States

MXD Group, Inc. provides logistics services for home delivery and retail replenishment in the United States and Canada.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-19 Worldwide Flight Services

Roissy, France

Worldwide Flight Services is a provider of ground services at over 60 major airports. WFS provides ramp, passenger, cargo, and technical services for more than 200 domestic and international airlines, including American, Continental, British Airways, Cathay Pacific, and Korean Airlines. Worldwide Flight Services was founded in 1984 and is based in Roissy, France.

Sell -

Seller(S) 1

SELLER

Pitney Bowes

Stamford, Connecticut, United States

Category Company
Founded 1920
Sector Business Services
Employees10,500
Revenue 3.3B USD (2023)
DESCRIPTION
Pitney Bowes facility in Danbury, Connecticut.
Pitney Bowes facility in Danbury, Connecticut.

Pitney Bowes provides technology solutions for small, mid-size and large firms that help them connect with customers to build loyalty and grow revenue. Many of the company's solutions are delivered on open platforms to best organize, analyze and apply both public and proprietary data to two-way customer communications. Pitney Bowes includes direct mail, transactional mail and call center communications in its solution mix along with digital channel messaging for the Web, email and mobile applications. Pitney Bowes was founded in 1920 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 5 of 7
Sector (Machinery) 1 of 1
Type (Divestiture) 5 of 7
State (Connecticut) 1 of 2
Country (United States) 4 of 5
Year (2018) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-06 Newgistics

Austin, Texas, United States

Newgistics, Inc. is a provider of e-commerce solutions and services for brands and retailers. Newgistics offers digital commerce development, deep analytics, relationship management, systems integration, fulfillment, parcel delivery and returns management, provide retailers and brands with a modern approach to enriching the customer journey. Newgistics, Inc. was founded in 1999 and is headquartered in Austin, Texas.

Buy $475M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-26 Pitney Bowes - Software Solutions Business

Stamford, Connecticut, United States

Pitney Bowes, Inc. - Software Solutions Business is a data management software provider.

Sell $700M