Platinum Equity to Acquire Textron Fastening Systems for $630M
Product DetailsPrivate investment firm Platinum Equity, Los Angeles, CA, has signed a definitive agreement to acquire for $630 million Textron Fastening Systems, a global provider of fastening technologies and services to customers in a broad range of industries.
The seller is Textron Inc., which announced in late 2005 that it would sell the $1.8 billion revenue unit as part of a strategic divestiture of non-core manufacturing businesses. The transaction is expected to close during the third quarter of 2006.
The new business will be renamed, and details about the new name and brand image will be announced ...