Core Insights - Platinum Equity has entered into a definitive agreement to acquire the Products & Healthcare Services (P&HS) segment of Owens & Minor, with Owens & Minor retaining a 5% equity stake in the business [1][5]. Group 1: Company Overview - P&HS is a vertically-integrated medical supply distribution platform primarily serving the acute care market, recognized as a leading national distributor of medical and surgical supplies for hospitals and healthcare providers across the U.S. [2]. - Platinum Equity has a history of investing in healthcare and supply chain businesses, with 30 years of experience in acquiring and operating global businesses from large corporate entities [3][4]. Group 2: Strategic Intent and Market Dynamics - Platinum Equity aims to enhance P&HS's global capabilities to deliver essential products and services, leveraging its operational expertise and commitment to growth [3][4]. - The aging U.S. population and increasing demand for healthcare services are expected to drive sustainable long-term demand for medical supplies distribution, making the acquisition attractive for Platinum Equity [5]. Group 3: Transaction Details - The transaction is anticipated to close near the end of the year, pending regulatory review and customary closing conditions [5]. - Financial advisors for Platinum Equity include Bank of America and Fifth Third, while Citi and Wells Fargo are advising Owens & Minor [6].

Core Insights - Platinum Equity's portfolio company Motors & Armatures (MARS) has signed a definitive agreement to sell its parts division, MARS Parts, to CSW Industrials for $650 million in cash, with an additional earn-out of up to $20 million based on revenue targets [1][2][5] Group 1: Transaction Details - The transaction is expected to close before the end of calendar year 2025, pending regulatory approval and other conditions [2] - MARS Parts specializes in HVAC/R parts, including motors and capacitors, while the equipment distribution division will remain under Platinum Equity as Heat Controller [3][4] Group 2: Operational Transformation - Since Platinum Equity's investment in July 2024, MARS has undergone a significant operational transformation, enhancing its business model and financial profile [3][5] - The leadership team at Heat Controller, led by CEO Philip Windham, is focused on scaling operations and diversifying the product portfolio [6][7] Group 3: Future Outlook - Platinum Equity remains optimistic about the HVAC sector's long-term growth and plans to support Heat Controller's expansion through strategic mergers and acquisitions [5][6] - The company aims to drive cost savings and enhance product offerings, indicating a proactive approach to market opportunities [7]

Company Performance - United Site, a portable toilet company backed by Platinum Equity, is working with advisers due to continued performance struggles [1] Business Operations - United Site is a portable toilet company [1]

Company Overview - Forward Air (FWRD) shares increased by 9.5% to $30.45 in the last trading session, with a notable trading volume, and have gained 24.3% over the past four weeks [1] - The company is a contractor for the air cargo industry and is expected to report a quarterly loss of $0.17 per share, reflecting a year-over-year change of +99.3%, with revenues projected at $637.67 million, down 0.9% from the previous year [2] Earnings Estimates - The consensus EPS estimate for Forward Air has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting positive sentiment among analysts [4] Industry Context - Forward Air operates within the Zacks Transportation - Truck industry, where another company, ArcBest (ARCB), saw a 1.7% increase in its stock price, closing at $83.29, with a 10.4% return over the past month [4] - ArcBest's consensus EPS estimate has decreased by 5.7% over the past month to $1.46, representing a year-over-year change of -26.3%, and it currently holds a Zacks Rank of 3 (Hold) [5]

LifeScan, the glucose-monitor maker backed by Platinum Equity, filed for a prearranged bankruptcy protection in Texas, in a deal that will see a group of creditors take control of the business https://t.co/qBsRc0MBTC ...

Group 1 - McGraw Hill has filed for an IPO on the NYSE under the ticker "MH," with Goldman Sachs as the lead underwriter [1] - The proceeds from the IPO will be used to pay down debt, with reported revenue of $2.1 billion for the fiscal year ending March 31, reflecting a 7% year-over-year increase, and a net loss of $85.8 million, down from a loss of $193 million the previous year [1] - The company was founded in 1888 and operates in over 100 countries, providing educational services and materials [1] Group 2 - McGraw Hill previously attempted to go public in 2015 but withdrew its application in 2018; it also planned a merger with Cengage in 2019, which was later canceled [2] - After being acquired by Platinum Equity for $4.5 billion from Apollo Global Management, McGraw Hill is now pursuing an IPO again four years later [2] Group 3 - The company recognizes the potential risks posed by generative AI in the education sector, which could lead to increased competition in producing educational materials [3]

Core Viewpoint - Parker Hannifin Corporation has agreed to acquire Curtis Instruments, Inc. for approximately $1 billion in cash, enhancing its capabilities in electric vehicle technologies and positioning itself for future growth in electrification [1][3]. Company Overview - Parker Hannifin is a global leader in motion and control technologies, recognized for its long-standing commitment to innovation and shareholder value, having increased its annual dividend for 69 consecutive years [6]. Acquisition Details - The acquisition of Curtis Instruments is expected to close by the end of calendar year 2025, pending regulatory approvals [1]. - Curtis is projected to generate sales of approximately $320 million in calendar year 2025, providing a significant addition to Parker's revenue stream [2]. Strategic Alignment - The acquisition aligns with the long-term trend towards electrification, enhancing Parker's existing industrial electrification platform and enabling better service to customers adopting electric and hybrid solutions [3][8]. - The deal is expected to create operational synergies through Parker's proven business system, The Win Strategy™, which aims to deliver strong shareholder value [3]. Market Positioning - Curtis Instruments designs and manufactures products that complement Parker's strengths in electric vehicle motors and hydraulic technologies, thereby enhancing Parker's electrification capabilities [2][8]. - The acquisition is viewed positively by both Rehlko and its financial sponsor, Platinum Equity, who believe that Curtis will thrive under Parker's scale and investment focus [4].

Core Viewpoint - NB Private Equity Partners (NBPE) announced its monthly NAV estimate for May 2025, reporting a NAV per share of $27.24 (£20.20) with a total return of (0.2%) for the month [1][5]. NAV Highlights - As of 31 May 2025, the NAV total return (TR) was 0.7% year-to-date and 2.0% over one year, while the three-year and five-year annualized returns were 13.2% and 9.9%, respectively [3]. - The MSCI World TR showed a stronger performance with a year-to-date return of 5.2% and a one-year return of 47.1% [3]. - The share price TR in GBP was reported at (7.9%) year-to-date, with a one-year return of 7.9% [3]. Portfolio Update - The NAV performance was influenced by $66 million in realizations year-to-date [4]. - The fair value of private company valuations decreased by (0.4%) during Q1 2025, while quoted holdings increased in value by $8 million [5][6]. - As of 31 May 2025, NBPE had $285 million in available liquidity, including $75 million in cash and liquid investments [8]. Share Buybacks - Approximately 51,000 shares were repurchased in May 2025 at a weighted average discount of 30%, contributing approximately $0.01 per share to NAV [10]. - Year-to-date, a total of 738,000 shares have been repurchased at a weighted average discount of 29%, which added approximately $0.11 per share to NAV [10]. Portfolio Valuation - The fair value of NBPE's portfolio as of 31 May 2025 was $972.5 million, representing 77.5% of total investments [11]. - The portfolio is primarily concentrated in North America (77%) and Europe (22%) [12]. - The industry distribution shows significant investments in Tech, Media & Telecom (22%) and Consumer/E-commerce (22%) [12].

Q1 2025 Performance Highlights - Net sales reached $123 billion, up 108% year-over-year on an FX neutral basis, exceeding guidance by 56%[14, 10] - Adjusted income from operations was $229 million, a 66% increase year-over-year[14] - Non-GAAP net income increased by 66% year-over-year to $144 million[14] - Adjusted EBITDA was $291 million, a 01% increase year-over-year[14] - Non-GAAP diluted EPS was $061, exceeding guidance by $005[14] Financial Position - The company repaid $125 million of debt in Q1 2025, bringing the total repayment to $169 billion since 2022[10, 32] - Available liquidity under the Revolving Credit Facility is $35 billion[33] - Net Debt / Q1 2025 TTM Adjusted EBITDA decreased to 20x, down from 23x in Q1 2024[33] Xvantage Digital Platform - The platform facilitated 12 million searches for hardware, software, cloud, and services[20] - Self-serve orders more than tripled year-over-year[21] - Thousands of dormant customers were reactivated through the platform[22] Q2 2025 Guidance - Net revenue is projected to be between $11765 billion and $12165 billion, representing year-over-year growth of 19% to 54%[35] - Non-GAAP diluted EPS is expected to be between $053 and $063[35]