LYCOS RETRIEVER 
Tom Gores: Platinum Equity
built 613 days ago
The intended bid by Platinum, headed by Tom Gores, came less than a week after Gores Technology Group, headed by Alec Gores, said it was ... was planning a bid for Hamilton, Bermuda-based Global Crossing. The prize for either brother is a company that owns one of the world’s biggest fibre optic networks, and one whose Chapter 11 bankruptcy filing in January was the fourth largest in US history.
Source:
Tom Gores, Founder and Chairman of Platinum Equity, said: "Ryerson has a great history and ... great potential. It's a good fit for Platinum, which brings an operational focus that will help the company build value in the future."
Source:
Ironically, Gores found out later that his younger brother, Thomas, had bid for Learning Co. Tom Gores runs Platinum Equity Holdings, another privately held Los Angeles tech buyout firm. Tom thought the losses were too steep to finance without help from Mattel. If Alec is successful, he could add a new rule to his playbook: If you like a deal, go so far as to outbid your brother.
Source:
Tom Gores, Platinum Equity's chairman/CEO, said USR was an attractive company due to its reputation and potential for growth. Platinum intends to identify complimentary strategic acquisitions that would be brought under the USR umbrella, although the company did not go into any further detail.
Source:
Prior to establishing Platinum in 1995, Mr. Gores was an active investor in startup operations and while doing so, developed a philosophy of “managed entrepreneurship” – a principle critical to his success in creating new value in all Platinum-owned companies. Mr. Gores combines his M&A acumen and operational knowledge to execute unique acquisition strategies that have driven the rapid growth of Platinum Equity to a multi-billion-dollar revenue base in just twelve years.
Source:
"There is enormous opportunity to build value through consolidation in the IT Services marketplace, and we pursued these two acquisitions with that in mind," said Tom Gores, chairman and CEO of Platinum Equity. "CompuCom and IT Solutions are two outstanding businesses in their own right. Combined, they'll deliver powerful results for customers."
Source:
MORE ABOUT
Platinum Equity