Platinum Equity Completes Acquisition of PAE
LOS ANGELES (March 15, 2016) – Platinum Equity announced today it has completed the acquisition of PAE, a leading provider of support services for the U.S. government, its allied partners and international organizations. Financial terms were not disclosed.
PAE, headquartered in Arlington, VA., supports the execution of complex and critical missions by providing global logistics and stability operations, technical services and national security solutions to customers on all seven continents.
"PAE has a rich history with strong long-term customer relationships and dedicated employees delivering vital services around the world," said Platinum Equity Partner Louis Samson. "The company has experienced leadership with a strong track record for growth. We are working closely with the management team to continue pursuing new opportunities to expand the business both organically and through prospective add-on acquisitions."
PAE CEO John Heller said he expects a seamless transition.
"We are excited to begin this new chapter in PAE's history and look forward to partnering with Platinum as we continue supporting the critical missions of our customers around the world," said Mr. Heller.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with more than $6 billion of assets under management and a portfolio of more than 25 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 20 years Platinum Equity has completed more than 175 acquisitions.
PAE is a leading provider of enduring support for the essential missions of the U.S. government, its allied partners and international organizations. With over 60 years of experience, PAE supports the execution of complex and critical missions by providing global logistics and stability operations, technical services and national security solutions to customers around the world. PAE has a workforce of approximately 15,000 people in over 60 countries on all seven continents and is headquartered in Arlington, VA. For more information, please visit www.pae.com.
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Dan Whelan, Platinum Equity: (310) 282-9202, email@example.com
Meg Manthey LaBumbard: (571) 205-4581, firstname.lastname@example.org