“We’ve been in business for nearly 30 years, and we’ve grown, we’ve matured,” Platinum Equity Founder and CEO Tom Gores said. “We’ve gone through multiple economic cycles, a pandemic, other complicated times.

“Although we have grown, we’ve stayed true to our fundamentals. And ultimately, that’s what it’s all about, our ability to execute. The world has gone through up and downs, faced challenges, but Platinum Equity always adjusts.”

Here’s a look back at 2024:

Platinum Equity Fund VI Closes On $12.4 Billion in Capital Commitments

Fund VI, which closed in the first half of 2024, exceeded its $12 billion target and represents the firm’s largest capital raise to date, surpassing Platinum Equity Capital Partners V, which closed on $10 billion in 2020.

The offering generated high demand from a diverse range of institutional investors around the world and overcame stiff industrywide headwinds that sidelined some managers or forced them to downsize. Fund VI closed with nearly 400 limited partners from 37 countries, featuring a mix of new and long-time investors attracted to the firm’s specialized M&A&O® approach.

Platinum Equity-Backed Ingram Micro Begins Trading on NYSE

Executives from Ingram Micro rang the bell at the New York Stock Exchange (NYSE) in October to celebrate the global technology distributor’s return to public markets. Since Platinum Equity acquired the business in 2021, the firm has partnered with Ingram on a comprehensive operational improvement plan, accelerated its digital transformation initiatives, and used buy- and sell-side M&A to sharpen the company’s focus on its core business.

Platinum Equity Sells Minority Stake in Jostens, Recaps Balance Sheet

Platinum Equity sold a minority stake in Jostens to Koch Equity Development LLC in a $640 million recapitalization in November. Founded in 1897 and headquartered in Minneapolis, Jostens is a provider of custom class jewelry, graduation products and yearbooks serving the K-12 and college education markets.

Platinum Equity Closes Multiple Complex Carveouts

Platinum Equity completed the acquisition of a majority interest in Horizon Organic and Wallaby from Danone in April. Horizon Organic’s portfolio of organic dairy products includes milk, creamers and whiteners, yogurt, cheese and butter. Also, Platinum Equity closed its deal with Kohler Co. in May to establish Kohler Energy as a separate independent business and officially rebranded it Rehlko, a provider of resilient energy solutions. Platinum Equity is the majority shareholder in the new company and Kohler Co. remains an investment partner.

Platinum Equity Expands Portfolio of Food and Beverage Investments

In December, Platinum Equity acquired a majority stake in Polli, a producer of pasta sauces and vegetable preserves. In November, Platinum Equity and Butterfly, a private equity firm specializing in the food sector completed the acquisition of Rise Baking Company, a supplier of bakery products. Polli and Rise join Horizon Organic, rum bottler E&A Scheer, wine distributor Fantini Group, sweet biscuits maker Biscuit International and frozen seafood producer Iberconsa as portfolio companies in the food and beverage space.

Sunrise Medical Acquisition Highlight of Firm’s European Activity

Platinum Equity’s London team led the acquisition of wheelchair company, Sunrise Medical, which closed in September. The Germany-based company develops, designs, manufactures and distributes assistive mobility products and solutions such as manual and power wheelchairs. Sunrise Medical’s products are sold through a network of homecare medical product dealers or distributors in more than 130 countries. The E&A Scheer and Polli investments were led by the firm’s European Small Cap team.

Platinum Equity Active on Buy- and Sell-Side in Canada

In July, the firm signed a definitive agreement to acquire Héroux-Devtek, a Québec-based international manufacturer of aerospace and defense products and the world’s third largest landing gear manufacturer. The acquisition subsequently closed in February 2025. On the sell-side, Platinum Equity closed out 2024 year with an agreement to divest Toronto-based Livingston International to Purolator in a transaction that closed in February 2025. Platinum Equity said it will continue seeking opportunities to expand its portfolio of Canadian investments.

Platinum Equity Exits Yak Access, Hunterstown Power

Platinum Equity exited its investment in Yak Access in a $1.1 billion sale to strategic buyer United Rentals. Yak Access provides hardwood, softwood and composite mats for surface protection across both construction and maintenance. Platinum Equity also sold the Hunterstown power generation facility and related assets to a strategic buyer in July.

Platinum Equity Makes Foray Into India

In August, Platinum Equity closed its first deal in India with the acquisition of a majority stake in Inventia Healthcare. The Mumbai-based pharmaceuticals company’s main business is generic drugs. Inventia serves a variety of geographies, including the U.S., the U.K., and Latin America. Platinum Equity said it’s increasingly focused on India as the buyout market there continues to evolve, and more opportunities become available that fit the firm’s operations-intensive approach.

Platinum Equity Small Cap Team Makes Multiple Investments

In February, Platinum Equity’s Small Cap team invested in TAK Communications, a national provider of communications and broadband infrastructure services. TAK’s existing shareholder and management remained with the business to partner with Platinum Equity on the transaction. In July, the Small Cap team invested in a majority stake in Motors & Armatures, Inc. (MARS), a distributor of HVAC/R parts, supplies and equipment in the U.S. and Canada.

Platinum Equity Credit Strategy Delivers Lending, Financing, Credit Solutions

In June, Platinum Equity’s credit team provided a first-lien term loan to Westphal Technik, a vertically integrated manufacturer of injection molded plastic components that serves the healthcare and consumer packaged goods end markets. In October, the firm announced a new and upsized second-lien term loan for Railway Equipment Leasing and Maintenance Inc., and in December the credit team led acquisition financing for Branding Iron Holdings in connection with Kingswood Capital Management’s purchase of the company. Branding Iron provides branded and private label protein products.

Tom Gores-Backed New Center Development Receives Detroit OK

The Detroit City Council approved the $3 billion mixed-used development project to transform the New Center neighborhood.  Gores will build housing, greenspace, walkable areas and attract retail partners as part of the project, which is expected to begin in 2025.

Gores, Platinum Equity Continue Support for JRLA Scholars

Tom Gores and Platinum Equity continued their support for the Jalen Rose Leadership Academy, a public charter high school founded by former NBA player and media personality, Jalen Rose. In the summer, the Detroit Golf Club hosted the school’s 14^th charity celebrity golf outing, which was sponsored by Gores and Platinum Equity.

Platinum Equity Portfolio Companies Continue Charitable Work

Among many charitable efforts, multiple portfolio companies rushed to help residents in the southeastern U.S. after Hurricanes Milton and Helene devastated communities. Diversey, a Solenis company, awarded 18 scholarships valued at $1,000 each for infection prevention professionals to attend the APIC 2024 Annual Conference and Exposition in June in San Antonio. In April, Club Car hosted its annual Club Car Championship tournament, which raised $450,000 for charities in Savannah, Ga. US LBM Foundation raised more than $2.75 million for a variety of charities from its eighth annual golf outing.