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Platinum Equity Closes Acquisition of OfficeMax Business in Australia
Wednesday 14 February 2018

14 February 2018 - US-based private equity firm Platinum Equity has completed the acquisition of the OfficeMax business in Australia from US-based office supplies retailer Office Depot (NASDAQ: ODP), the firm said.

Financial terms were not disclosed.

Platinum Equity also confirmed that over time it intends to bring together the OfficeMax business in Australia with Winc Australia, the former Staples business that Platinum Equity acquired in April 2017 and subsequently rebranded.

Winc CEO Darren Fullerton said teams from Winc, OfficeMax and Platinum Equity will work together to ensure a seamless transition.

Platinum Equity's proposed acquisition of the OfficeMax business in New Zealand is still pending, subject to approval by the New Zealand High Court.

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with USD 13bn of assets under management and a portfolio of more than 30 operating companies that serve customers around the world.

The firm is currently investing from Platinum Equity Capital Partners IV, a USD 6.5bn global buyout fund.

Platinum Equity specialises in mergers, acquisitions and operations a trademarked strategy it calls M and A and O acquiring and operating companies in a 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 22 years Platinum Equity has completed more than 200 acquisitions.

Baker McKenzie, Bell Gully, and Greenwoods and Herbert Smith Freehills are serving as legal counsel to Platinum Equity.
Date Published: 14/02/2018
Target: OfficeMax business in Australia
Country: Australia
Sector: Paper/Packaging/Office Supplies
Type: LBO
Status: Closed
Vendor: Office Depot
Buyer: Platinum Equity
Buyer Advisor: Baker McKenzie , Bell Gully , Greenwoods and Herbert Smith Freehills
Terms of the deal were not disclosed