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Bruce Baumgarn Named Member of Platinum Group
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| By Platinum Group |
Eden Prairie, Minn. (July 8, 2010) — Platinum Group, a transition management
firm, announces the addition of Bruce Baumgarn as member. Previously, he had
been an associate of the firm. His role is to help guide and provide due diligence
for the firm’s turnaround equity fund investments, of which he is also an investor.
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John Hehre Joins Platinum Group, a Transition Management Firm
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| By Platinum Group |
Eden Prairie, Minn. (May 4, 2010) — Platinum Group, a transition management firm, announces the addition of John Hehre as a member. He will take senior leadership roles in privately held companies that are in a critical transition and provide expertise in strategic planning, manufacturing and operations. He has worked with several Platinum clients as an associate for the past year and a half in chief operating officer roles.
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eCommerce Strategy Leader, Darin Lynch, Named to Business Journal’s "40 Under 40" List
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| By Platinum Group |
EDEN PRAIRIE, Minn. (April 15, 2010) — Darin Lynch, a Platinum Group member and CEO of Platinum’s Irish Titan, was honored last month as one of the Minneapolis-St. Paul Business Journal’s "40 Under 40" for his leadership, career and achievements to date. The weekly publication annually spotlights the region’s most talented and successful young leaders who have established themselves in the Twin Cities and are poised for even bigger things.
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Platinum Group Acquires Club Car Distributorship
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| By Platinum Group |
EDEN PRAIRIE, Minn. (March 23, 2010) - Platinum Group today announced that its private equity fund has acquired the assets of Tiziani Golf Car of Minnesota, LLC and the exclusive distribution rights that cover eastern Minnesota and western Wisconsin.
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| Turnaround Management Association Recognizes Local Corporate Renewal Achievement |
| By Upper Midwest Chapter of the Turnaround Management Association |
MINNEAPOLIS, Oct. 6, 2008 — The Upper Midwest Chapter of the Turnaround Management Association (UMTMA) today announced that it awarded the 2008 Transaction of the Year award to Platinum Group for its work as chief restructuring officer in the reorganization and sale of Minneapolis-based Diversified Graphics Incorporated.
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| Platinum Group Acquires St. Paul-based Law Enforcement Targets, Inc. |
| By Platinum Group |
EDEN PRAIRIE, Minn. (August 9, 2006) — Platinum Group today announced its acquisition of St. Paul-based Law Enforcement Targets, Inc., a privately held, family owned business that designs and distributes shooting targets to homeland security agencies, police departments, military units, gun clubs, and others for training purposes
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| Platinum Group Announces Acquisition of Elvin Safety Supply, Inc. |
| By Platinum Group |
EDEN PRAIRIE, Minn. (June 21, 2006) — Platinum Group today announced its acquisition of Eden Prairie-based Elvin Safety Supply, Inc., a 70-year-old, family owned business that distributes safety supplies to business and industry across the United States.
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Simple often beats complex in accounting
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| By John Hehre |
April-May 2010 – Upsize Minnesota – In three examples, Hehre presents the case for simplifying financial information. Over time some traditional accounting systems have become more complicated in well-intentioned attempts to improve the accuracy and clarity of information. At best, these efforts result in complexity; at worst, the results lead managers to make the wrong decisions. Changes to these systems will ultimately improve performance.
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No sale in sight? ESOP offers way out of business
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| Bruce Mallory and Tim Ring |
January 2010 - Upsize Minnesota —
Many business owners are singing the blues right now because they didn’t sell their businesses a couple years ago for a high valuation. Now that times are tougher, owners can’t get their price — and many Baby Boomers are unable to retire as planned. A change of tune is possible by considering an employee stock ownership plan (ESOP) as an option to selling outright.
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| Business owners who delay their exit plans face higher risks |
| By Steve Coleman |
| February 27, 2009 - Minneapolis / St. Paul Business Journal |
There’s more clarity and freedom when a person can look at the future phase of life by planning ahead. What business owners need now more than ever is a vision for the future of the best paths for both themselves and their businesses.
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| Fighting the squeeze: How companies can battle cost pressures |
| By Tom Ahonen |
| July 25, 2008 - Minneapolis / St. Paul Business Journal |
Tom presents three pricing-management strategies that "need to be managed every single day in today's economy. The world of stable prices has come to an end, at least for now, which may require new skills and greater vigilance on the part of both owners and organizations."
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| Is Your Business Stuck? |
| By Bruce Mallory |
| July 2008 - Minnesota Business |
“Getting stuck” happens to the best of entrepreneurs. Whether the biggest employer in a small town or a family business in a big city, they often find themselves in critical transition such as losing customers, marketing share, money or the dream of leaving a family legacy.
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| Running on Empty |
| By Pat Brennan |
Enhanced forecasting can help firms take action before exhausting their cash.
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| Each exit is different, Platinum Group partner says |
| By Beth Ewen |
| April 2008 - upsizemag.com |
“No two journeys are the same,” said Steve Coleman, a consultant with the Platinum Group of Eden Prairie, which hosted a breakfast meeting on “Transition Options for Business Owners.”
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| Taking Leave |
| By Jeff Dekko |
| December 2007 - Twin Cities Business |
A true tale of a company owner who took a sabbatical from his small business—and came back to an improved business.
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| Recharge! |
| By Mary Burmann with Steve Coleman |
| August 2006 - Upsize Minnesota |
How to plan time away from your business.
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| Protecting Your Interests |
| By Platinum Group |
Changes in ownership can ignite trouble when lenders shift from having a reasonable debt coverage ratio to financing the same company that is highly leveraged. That was the case of a 15-year-old industrial coatings firm where the senior secured lender moved from helping the founder with traditional bank financing to providing new owners with a revolving line of credit backed by accounts receivable and inventory, a term loan collateralized by equipment, and a mortgage on the building.
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| Competitive Advantage Through Reduced Cycle Times |
| By Bruce Mallory |
With the threat of foreign competition, many senior factory managers are wondering “Is it possible to stay competitive and still offer a product at a fair price in the United States?” The ability to compete on lead-time versus price allows many types of companies to maintain higher prices, better cash flow and greater chances of profitability. The key benchmark: cycle-time reduction.
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