Welcome!

News Feed Item

Former Emerson EVP Craig Ashmore Brings Unique Seller's Perspective to Platinum Equity's Buy-Side Efforts

LOS ANGELES, CA -- (Marketwired) -- 06/10/14 -- Former Emerson Executive Vice President Craig Ashmore, who joined Platinum Equity earlier this year in a senior business development role focused on sourcing new acquisition opportunities, today sits on the other side of the table from where he once sat during a 22-year career as an executive and corporate dealmaker.

He spends much of his time meeting with executives at other large, global companies who are wrestling with the same challenges he once faced as part of the leadership team at Emerson, a $25 billion global manufacturing and technology company.

"I know what corporate sellers are going through, trying to manage their portfolios and maximize shareholder value, all while balancing myriad internal and external pressures," said Mr. Ashmore. "More importantly, and I'm speaking from personal experience, I know how Platinum Equity can help."

Mr. Ashmore most recently served as executive vice president for planning and development at Emerson. In that role he had responsibility for Emerson's M&A, strategic planning and corporate technology functions as well as Emerson Network Power's connectivity solutions business. He led the sale of a controlling stake in Emerson's Embedded Computing and Power (EC&P) business to Platinum Equity in November 2013.

"Craig has been a great addition to our team and has sharpened our focus on partnering and transacting with the top companies in the world," said Platinum Equity Chairman and CEO Tom Gores. "His experience in M&A and as a business leader has made us even stronger as we forge ahead executing our global strategy."

For the last five years Mr. Ashmore was a member of Emerson's Office of the Chief Executive, the company's top management team that sets global strategy and has overall operational and financial responsibility for the company. As head of Emerson's M&A organization Mr. Ashmore evaluated more than 500 potential acquisitions, executing 58 buy-side transactions with an aggregate cost of approximately $6.6 billion. He also led the sale of 26 operating units with combined revenue of approximately $2 billion.

Mr. Ashmore, who joined Platinum Equity as a Principal, said he was especially attracted to the opportunity having gotten to know the firm well through the EC&P sale.

"Platinum Equity has an extraordinary track record of working with corporate sellers to forge creative divestiture solutions," said Mr. Ashmore. "Having sat across the table from Platinum Equity as a seller myself, I witnessed firsthand the value of their approach and their unyielding determination to get things done."

Jacob Kotzubei, the partner at Platinum Equity who led the EC&P acquisition, said Mr. Ashmore has further solidified Platinum Equity as a partner of choice for corporate sellers.

"The corporate divestiture market has always been a strong source of deal flow for us as sellers look for real operators they can trust, who will do right by the assets being sold, and who will execute with minimal disruption," said Mr. Kotzubei. "Very few private equity firms have the combination of experience, track record and operational resources necessary to excel in this space. Adding Craig to the Platinum Equity team has made our value proposition that much more compelling."

In addition to Emerson, over the past two years Platinum Equity has acquired businesses from corporate sellers such as AP Moeller-Maersk, Caterpillar, CBS, CheckPoint Systems, Deutsche Post DHL, Telstra, United Technologies and Volvo.

Mr. Ashmore said making the transition from the Fortune 500 to private equity has been seamless.

"The operations sensibility is such a part of Platinum Equity's DNA that in many ways the firm thinks more like a strategic corporate acquirer than a traditional private equity firm," said Mr. Ashmore. "They view the world as business operators, which is comforting because we speak the same language."

During his 22 year career at Emerson, Mr. Ashmore also served as Group Vice President of Emerson Telecommunication Products, Vice President of Profit Planning and President of numerous operating divisions. He holds a bachelor's degree in Mechanical and Civil Engineering from the University of Connecticut and a master's degree in business administration from the Harvard Business School.

About Platinum Equity
Founded by business operator and entrepreneur Tom Gores in 1995, Platinum Equity is a global investment firm with more than $7 billion in assets under management and a portfolio of operating companies that generated approximately $15 billion in revenue in 2013. Platinum Equity specializes in mergers, acquisitions and operations -- a trademarked strategy the firm calls M&A&O® -- acquiring and operating companies in a broad range of business markets, including manufacturing, information technology, telecommunications, transportation and logistics, media, equipment rental, metals and other industries. Over the past 19 years Platinum Equity has completed more than 150 acquisitions.

Contact:

Dan Whelan
Platinum Equity
(310) 282-9202
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...