Platinum Equity Completes Acquisition of Tangent Technologies
Platinum Equity has completed its acquisition of Tangent Technologies, a manufacturer of high-performance synthetic materials serving outdoor living, marine, infrastructure and industrial markets.
Financial terms of the transaction were not disclosed.
Headquartered in Aurora, Illinois, Tangent manufactures high-density polyethylene (HDPE) synthetic materials used in applications including decking, docks, fencing, structural components and site amenities. The company’s products are manufactured using a combination of post-consumer and post-industrial recycled feedstock.
Tangent operates a vertically integrated manufacturing platform with in-house recycling capabilities and a portfolio that includes synthetic lumber, sheet products and structural solutions. The company also holds a portfolio of intellectual property, including a patented woodgrain product line designed to combine the appearance of natural wood with the durability of synthetic materials.
Platinum Equity said Tangent’s research and development capabilities and manufacturing platform position the company to continue serving growing demand for durable, low-maintenance building materials across multiple end markets.
Gibson, Dunn & Crutcher LLP served as legal advisor to Platinum Equity on the acquisition, while Alston & Bird LLP provided financing counsel.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $48 billion in assets under management and a portfolio of about 60 operating companies. The firm has completed more than 550 acquisitions across industries including manufacturing, distribution, transportation, technology and industrial services.
