PLATINUM EQUITY SELLS BLUROC TO MOLLITIAM HOLDINGS
Platinum Equity has sold BluRoc to Mollitiam Holdings, marking the final exit of its Yak Access investment. BluRoc, a provider of temporary and permanent access solutions, was previously part of Yak Access, which Platinum Equity sold to United Rentals (NYSE: URI) for $1.1 billion in March. The sale of BluRoc follows Platinum Equity's successful six-year ownership, during which the company navigated challenges like COVID-19 and oil market fluctuations. Jamie Moncur, BluRoc's President, expressed gratitude for Platinum Equity's support and excitement about future opportunities with Mollitiam Holdings.
Platinum Equity ha venduto BluRoc a Mollitiam Holdings, segnando l'uscita finale del suo investimento in Yak Access. BluRoc, fornitore di soluzioni di accesso temporanee e permanenti, faceva parte di Yak Access, che Platinum Equity ha venduto a United Rentals (NYSE: URI) per 1,1 miliardi di dollari a marzo. La vendita di BluRoc segue il successo di Platinum Equity in un ciclo di proprietà durato sei anni, durante il quale l'azienda ha affrontato sfide come il COVID-19 e le fluttuazioni del mercato petrolifero. Jamie Moncur, Presidente di BluRoc, ha espresso gratitudine per il supporto di Platinum Equity ed entusiasmo per le future opportunità con Mollitiam Holdings.
Platinum Equity ha vendido BluRoc a Mollitiam Holdings, marcando la salida final de su inversión en Yak Access. BluRoc, un proveedor de soluciones de acceso temporales y permanentes, era previamente parte de Yak Access, que Platinum Equity vendió a United Rentals (NYSE: URI) por 1.1 mil millones de dólares en marzo. La venta de BluRoc sigue la exitosa propiedad de seis años de Platinum Equity, durante la cual la empresa enfrentó desafíos como el COVID-19 y las fluctuaciones del mercado del petróleo. Jamie Moncur, presidente de BluRoc, expresó su agradecimiento por el apoyo de Platinum Equity y su entusiasmo por las futuras oportunidades con Mollitiam Holdings.
플래티넘 에쿼티가 블루록을 몰리티암 홀딩스에 매각했다, 이는 야크 액세스 투자에서의 최종 퇴출을 의미한다. 블루록은 임시 및 영구 접근 솔루션을 제공하는 업체로, 플래티넘 에쿼티가 유나이티드 렌탈스(NYSE: URI)에게 11억 달러에 판매한 야크 액세스의 일부였다. 블루록 매각은 플래티넘 에쿼티의 성공적인 6년 소유 기간에 뒤따르며, 이 기간 동안 회사는 COVID-19 및 석유 시장의 변동과 같은 문제를 극복했다. 블루록의 회장인 제이미 몬커는 플래티넘 에쿼티의 지원에 감사하며 몰리티암 홀딩스와의 미래 기회에 대한 기대를 표명했다.
Platinum Equity a vendu BluRoc à Mollitiam Holdings, marquant la sortie finale de son investissement dans Yak Access. BluRoc, un fournisseur de solutions d’accès temporaires et permanentes, faisait auparavant partie de Yak Access, que Platinum Equity a vendu à United Rentals (NYSE : URI) pour 1,1 milliard de dollars en mars. La vente de BluRoc intervient après six années de propriété réussie par Platinum Equity, durant lesquelles l’entreprise a dû naviguer à travers des défis tels que le COVID-19 et les fluctuations du marché pétrolier. Jamie Moncur, président de BluRoc, a exprimé sa gratitude pour le soutien de Platinum Equity et son enthousiasme pour les opportunités futures avec Mollitiam Holdings.
Platinum Equity hat BluRoc an Mollitiam Holdings verkauft, was den endgültigen Ausstieg aus seiner Investition in Yak Access markiert. BluRoc, ein Anbieter von temporären und permanenten Zugangslösungen, war zuvor Teil von Yak Access, das Platinum Equity im März für 1,1 Milliarden US-Dollar an United Rentals (NYSE: URI) verkauft hat. Der Verkauf von BluRoc folgt auf die erfolgreiche sechsjährige Eigentümerschaft von Platinum Equity, während der das Unternehmen Herausforderungen wie COVID-19 und die Schwankungen auf dem Ölmarkt bewältigt hat. Jamie Moncur, Präsident von BluRoc, zeigte sich dankbar für die Unterstützung von Platinum Equity und begeistert über die zukünftigen Möglichkeiten mit Mollitiam Holdings.
- Successful exit strategy for Platinum Equity, completing the divestiture of Yak Access investment
- Previous sale of Yak Access to United Rentals for $1.1 billion in cash
- BluRoc emerged as a stronger and more resilient business under Platinum Equity's ownership
- None.
Divesture marks final exit of Platinum's Yak Access Investment
Headquartered in
BluRoc was previously owned by Yak Access, which Platinum Equity sold in March to United Rentals, Inc. (NYSE: URI) for approximately
"We are grateful to the BluRoc team for their commitment to delivering superior access solutions to customers across the Northeast, Mid-Atlantic and beyond," said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. "BluRoc was a valuable contributor to our Yak investment and is well positioned for continued success under new ownership. We are proud of the work we did over the past six years and the value we created while navigating challenges posed by Covid-19 and fluctuations in the oil and gas market. Ultimately Yak and BluRoc emerged stronger, more capable and resilient businesses ready for the next chapter."
Jamie Moncur, President of BluRoc, expressed his gratitude: "We are deeply thankful to Platinum Equity for their unrivaled support throughout this journey. Their guidance and expertise have been invaluable. We are now equally excited about the new strength and opportunities this acquisition brings with Mollitiam Holdings. Together with the existing BluRoc leadership team, we look forward to continuing our tradition of excellence and driving further innovation in access solutions."
Platinum Equity acquired a controlling stake in Yak in 2018 from Jones Companies and Beasley Forest Products.
Palm Tree served as financial advisor and Morgan Lewis provided legal counsel to Platinum Equity on the sale of BluRoc.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than
About BLUROC
In 2017, BLUROC was acquired by YAK ACCESS to provide access road and clearing services in the North East. BLUROC is a single-source access solution for even the most challenging terrain. In addition to building mat roads, BLUROC builds permanent and temporary access roads for power line construction, installs bridges, and provides land clearing services for all industries. Regardless of industry or location, we create roadways, bridges and various out of the box infrastructures to allow customers to successfully reach and complete their jobs.
Contacts:
Dan Whelan
Platinum Equity
dwhelan@platinumequity.com
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SOURCE Platinum Equity
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