Firm continues pursuing new investments while taking necessary precautions during global pandemic

LOS ANGELES (April 6, 2020) – Platinum Equity announced today that the acquisition of Farnese Group from NB Renaissance Partners has been completed. Financial terms were not disclosed.

The transaction was signed last December and has now closed as expected, with Platinum Equity teams working hard while adhering to measures taken in response to COVID-19. The firm implemented companywide travel restrictions and work-from-home policies weeks ago in order to protect employees and help slow the spread of the virus.

“We are intensely focused on the health of our people, our firm and our portfolio companies during this global pandemic,” said Platinum Equity Chairman and CEO Tom Gores. “We are taking the steps needed to keep our team safe while ensuring the continuity of our business.”

“We also continue pursuing new investment opportunities,” Mr. Gores added. “We have access to capital and a lot of experience investing in dislocated markets. We are adjusting our models and adapting every day, but our M&A teams are still hard at work.”



“We are intensely focused on the health of our people, our firm and our portfolio companies during this global pandemic,” said Platinum Equity Chairman and CEO Tom Gores. “We are taking the steps needed to keep our team safe while ensuring the continuity of our business.”



Headquartered in Pescara, Italy, Farnese markets and distributes wines from southern and central Italy. The company acquires grapes from local farmers, oversees production and markets wines under specialty labels to customers internationally.

Platinum Equity Partner Louis Samson said he’s excited about the company’s long-term prospects.

“Farnese has an innovative business model that has proven resilient during challenging times and delivered impressive growth over the past two decades,” said Mr. Samson. “The company has strong leadership under CEO Valentino Sciotti and a well-deserved reputation for producing award-winning wines.”

Mr. Samson said Platinum Equity’s financial and operational resources will help Farnese navigate the current crisis and emerge well prepared when conditions stabilize.

“Farnese is an outstanding platform in a highly fragmented industry, and we intend to further grow the business organically and through prospective acquisitions,” Mr. Samson added.

Fineurop Soditic, Equita SIM, Unicredit, Deloitte, PwC Tax and Latham & Watkins served as advisors to Platinum Equity on the acquisition of Farnese.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad 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 25 years Platinum Equity has completed more than 250 acquisitions.

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