Oct. 2, 2013
Platinum Equity Acquires MetoKote Corp.
Platinum Equity, Los Angeles, has acquired Lima, Ohio-based MetoKote Corp., a provider of industrial metal coating services, from CCMP Capital Partners LLC. Terms of the transaction were not disclosed.
MetoKote President and CEO Jeff Oravitz will continue to lead the company under its new ownership, and the company will continue to operate under the MetoKote brand.
"We are excited about the transition to new ownership and look forward to working with the Platinum Equity team to continue growing our business by providing customers with best-in-class coatings services," says Oravitz. "MetoKote will benefit from Platinum's expertise working with portfolio companies to create value and generate opportunities for growth."
Platinum Equity has extensive experience in industrial services and working with automotive OEMs and heavy equipment manufacturers. The firm's current portfolio includes service center giant Ryerson.