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 50.0B 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 156
Sector: Plastics M&A 2 of 2
Type: Secondary Buyout M&A Deals 34 of 42
State: Ohio M&A 8 of 8
Country: United States M&A 107 of 121
Year: 2023 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-01 Incora

Derby, United Kingdom

Incora is an independent distributor and global provider of supply chain solutions. The Company was forged by the joining of two industry leaders in supply chain solutions, Wesco Aircraft and Pattonair. Services include original equipment and aftermarket part demand forecasting, distribution, kitting, line feed, supplier management, warehouse management, inbound and reverse logistics, and consulting. Incora was founded in 1970 and is based in Derby, United Kingdom.

Sell -
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 23
Sector: Plastics M&A 1 of 1
Type: Secondary Buyout M&A Deals 10 of 11
State: Ohio M&A 3 of 3
Country: United States M&A 22 of 23
Year: 2023 M&A 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-12 Binswanger Glass

Memphis, Tennessee, United States

Binswanger Glass provides residential and commercial glass installation, repair, and replacement services across the United States. The Company offers products and services such as curtain walls, storefronts, shower enclosures, custom mirrors, and window repair for projects ranging from small residential jobs to large-scale commercial glazing. Binswanger Glass was founded in 1872 and is headquartered in Memphis, Tennessee.

Sell -