Deal Details
Platinum Equity Acquires MARS
Summary
Platinum Equity recently completed the acquisition of Motors & Armatures, Inc. (“MARS” or the “Company”). The terms of the transaction were not disclosed.
Baird served as financial advisor to Platinum Equity on this transaction.
About
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years, Platinum Equity has completed more than 450 acquisitions. Platinum Equity is headquartered in Beverly Hills, California.MARS has served as a key supplier to the HVAC/R industry for more than 75 years. Founded in 1946 by Sol Chernoff as a motor repair company, MARS has become a trusted partner to HVAC/R wholesalers across North America. MARS distributes an extensive line of MARS and JARD branded aftermarket replacement products, including motors and other electrical components, as well as the original equipment components of leading manufacturers. The Company's equipment division offers residential and commercial heating, cooling and dehumidification equipment under the Comfort-Aire and Century brand names. MARS is headquartered in Hauppauge, New York.
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- Date
- July 2024
- Company
- Platinum Equity
- Transaction
- M&A - Buyside
- Sectors
- Industrial
- Verticals
-
Thermal & Climate Technologies
Distribution
- Target Geography
- North America
- Acquiror Geography
- North America
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