Platinum Equity to Acquire Trime in Partnership with Founder and Management
Trime's founder and management will invest alongside Platinum, with growth plans focused on expanding the U.S. business.
Sentiment and the balance of points
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Rhea-AI Summary
Platinum Equity signed a definitive agreement to acquire a majority stake in Trime, an Italian manufacturer of mobile lighting and power equipment. Founder and Chairman Andrea Fontanella, CEO Paolo Tacconi and other management members will invest alongside Platinum. Financial terms were not disclosed. Completion is expected by early 2027, subject to customary closing conditions and applicable regulatory approvals.
Platinum and Trime management plan to expand U.S. sales coverage, production capacity, warehousing, spare-parts availability and customer support, alongside product development and selective acquisitions. Their growth strategy includes expanding Trime's mobile-generator offering. Debt financing is being provided by six banks. Custom Truck One Source (NYSE: CTOS) is an existing Platinum portfolio company, not the acquisition target.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Platinum's definitive agreement establishes a planned majority investment in Trime, with completion expected by early 2027.
- Minor point. Forward-looking: it has not happened yet and may not happen.Trime's founder and management will invest alongside Platinum Equity.
- Minor point. Forward-looking: it has not happened yet and may not happen.The growth plan includes investment in production capacity and U.S. sales coverage.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned investment includes warehousing, spare-parts availability and customer support.
- Minor point. Forward-looking: it has not happened yet and may not happen.Platinum and management plan to expand Trime's mobile-generator offering.
- Minor point. Forward-looking: it has not happened yet and may not happen.The growth plan includes continued product innovation and selective acquisitions.
Negative
- Minor pointThe acquisition remains subject to applicable regulatory approvals.
Key Figures
- Expected transaction completion
- Early 2027
- Subject to customary closing conditions and applicable regulatory approvals
AI-generated analysis. How Rhea-AI works. Not financial advice.
Italian lighting and mobile-power specialist to leverage Platinum's operational expertise and equipment-rental experience to accelerate
Company founder and management to reinvest alongside Platinum Equity
Trime Founder and Chairman Andrea Fontanella, CEO Paolo Tacconi and other members of management will invest alongside Platinum. Financial terms were not disclosed. The transaction is subject to customary closing conditions and applicable regulatory approvals and is expected to be completed by early 2027.
"We have been investing in equipment manufacturers and rental businesses for nearly two decades, and Trime is a company we've admired for a long time," said Louis Samson, Co-President of Platinum Equity. "It's a resilient, cash-generative business serving markets that are growing and benefiting from essential infrastructure spending. We also see additional potential upside from continued investment in data centers and power generation both in
Samson added that Platinum Equity's relationship-driven approach, cultural fluency and commitment to the Italian market helped lay the groundwork for the transaction.
"Our team spent years building relationships with the company and its founder," he said. "Filippo Rossi, an Italian national who led the transaction and helps lead our investment activities in the country alongside Fernando Goni, has known the founder for many years. That foundation played an important role in building the trust that ultimately led to this partnership. We have tremendous respect for what the Trime team has built and are excited to support the next phase of the company's growth."
Headquartered in Cassinetta di Lugagnano, near
Trime offers a broad portfolio of products, including conventional, hybrid, battery-powered and solar-powered solutions. The company has established particularly strong momentum in
Platinum Equity's equipment rental experience includes BlueLine Rental, sold to United Rentals for approximately
Trime has established relationships in
The growth plan includes investment in production capacity,
"Filippo and Platinum have stayed close to our business over the years and have taken the time to understand our people and what makes Trime work," said Fontanella. "We wanted a partner who would respect our entrepreneurial culture and help us take the next step internationally. Platinum combines that personal understanding with deep experience and relationships in the rental industry. For our team, that is a compelling combination."
"We worked hard to find a partner who could support our next phase of international growth, with a particular focus on the U.S. market, and help us continue to build the Group's organization," said Paolo Tacconi, CEO of Trime. "We are confident that Platinum Equity is the right partner and will make a strong contribution to the execution of our strategy."
The transaction builds on Platinum Equity's commitment to
"Trime reflects our continued commitment to European businesses with strong positions in specialized markets and established international customer bases," said Goni. "We see significant opportunity to help these companies grow further by combining local expertise with Platinum's global reach and operating capabilities."
Clearwater is serving as financial and debt advisor to Platinum Equity, with Alvarez & Marsal providing financial due diligence, EY and FRM advising on tax and structuring, and Legance serving as legal counsel. Debt financing is being provided by Intesa Sanpaolo, UniCredit, BPER Banca, Crédit Agricole, BNL BNP Paribas and Deutsche Bank.
The minority shareholders and management team were advised by Artha Corporate Finance Advisory as financial advisor and by Deloitte Legal as legal advisor.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately
About Trime
Trime designs and manufactures mobile lighting, power and security equipment for equipment-rental companies and other professional users. Based near Milan, Italy, the group combines Italian manufacturing with an international commercial network and a product range designed around customer requirements.
Contact:
Dan Whelan
Platinum Equity
dwhelan@platinumequity.com
View original content:https://www.prnewswire.com/news-releases/platinum-equity-to-acquire-trime-in-partnership-with-founder-and-management-302913190.html
SOURCE Platinum Equity
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Platinum Equity acquiring in the Trime transaction?
Platinum Equity has signed a definitive agreement to acquire a majority stake in Trime. Trime manufactures mobile lighting towers, generators and security towers. Founder and Chairman Andrea Fontanella, CEO Paolo Tacconi and other management members will invest alongside Platinum. Financial terms were not disclosed.
When is Platinum Equity's acquisition of Trime expected to close?
The acquisition is expected to be completed by early 2027. Completion remains subject to customary closing conditions and applicable regulatory approvals.
Which banks are providing debt financing for Platinum Equity's Trime acquisition?
Debt financing is being provided by Intesa Sanpaolo, UniCredit, BPER Banca, Crédit Agricole, BNL BNP Paribas and Deutsche Bank.