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Article: Platinum Group Acquires Assets of G.C. Peterson Machinery, a Minneapolis-Based Wood and Plastics Equipment Company.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Platinum Group announced that its private equity fund has acquired the assets of G.C. Peterson Machinery Company. The 80-year-old company distributes and services many brands of woodworking and plastics equipment for cabinet shops, technical schools, millwork companies, and other woodworkers.
The firm's private equity fund, Platinum Group Holdings II, acquired the assets in a transaction worked out between the previous owners, who had been hurt by the severe recession within the housing industry and customers that have reduced their capital equipment spending. The fund seeks majority positions in underperforming companies or those in critical transition in need ...