Platinum Equity To Sell AEES To PKC

Platinum Equity is selling its controlling stake in AEES to Finnish wiring, cable and electronics manufacturer PKC Group.

Platinum Equity is selling its controlling stake in AEES to Finnish wiring, cable and electronics manufacturer PKC Group. The private equity group will obtain around €109 million in cash and 1.25 million in newly issued PKC shares from the sale. As part of the deal, the buyer will finance the cash portion of the purchase with a long-term credit facility agreement. On the transaction, which is expected to close on October 1, PKC is being financially advised by Bank of America Merrill Lynch.

Click here for the release from Globe Newswire.