|By Marketwired .||
|June 10, 2014 02:35 PM EDT||
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.
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
May. 22, 2015 06:00 AM EDT Reads: 4,627
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
May. 22, 2015 06:00 AM EDT Reads: 5,778
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
May. 22, 2015 06:00 AM EDT Reads: 1,990
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
May. 22, 2015 06:00 AM EDT Reads: 3,672
The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @Things...
May. 22, 2015 06:00 AM EDT Reads: 4,443
“Oh, dev is dev and ops is ops, and never the twain shall meet.” With apoloies to Rudyard Kipling and all of his fans, this describes the early state of the two sides of DevOps. Yet the DevOps approach is demanded by cloud computing, as the speed, flexibility, and scalability in today's so-called “Third Platform” must not be hindered by the traditional limitations of software development and deployment. A recent report by Gartner, for example, says that 25% of Global 2000 companies will b...
May. 22, 2015 05:45 AM EDT Reads: 2,584
Software-driven innovation is becoming a primary approach to how businesses create and deliver new value to customers. A survey of 400 business and IT executives by the IBM Institute for Business Value showed businesses that are more effective at software delivery are also more profitable than their peers nearly 70 percent of the time (1). DevOps provides a way for businesses to remain competitive, applying lean and agile principles to software development to speed the delivery of software that ...
May. 22, 2015 05:45 AM EDT Reads: 6,235
Big Data is amazing, it's life changing and yes it is changing how we see our world. Big Data, however, can sometimes be too big. Organizations that are not amassing massive amounts of information and feeding into their decision buckets, smaller data that feeds in from customer buying patterns, buying decisions and buying influences can be more useful when used in the right way. In their session at Big Data Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positi...
May. 22, 2015 05:30 AM EDT Reads: 2,169
JFrog on Thursday announced that it has added Docker support to Bintray, its distribution-as-a-service (DaaS) platform. When combined with JFrog’s Artifactory binary repository management system, organizations can now manage Docker images with an end-to-end solution that supports all technologies. The new version of Bintray allows organizations to create an unlimited number of private Docker repositories, and through the use of fast Akamai content delivery networks (CDNs), it decreases the dow...
May. 22, 2015 05:30 AM EDT Reads: 3,104
More organizations are embracing DevOps to realize compelling business benefits such as more frequent feature releases, increased application stability, and more productive resource utilization. However, security and compliance monitoring tools have not kept up and often represent the single largest remaining hurdle to continuous delivery. In their session at DevOps Summit, Justin Criswell, Senior Sales Engineer at Alert Logic, Ricardo Lupo, a Solution Architect with Chef, will discuss how to ...
May. 22, 2015 05:15 AM EDT Reads: 2,860
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects - scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
May. 22, 2015 05:00 AM EDT Reads: 3,856
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
May. 22, 2015 05:00 AM EDT Reads: 2,057
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understand...
May. 22, 2015 05:00 AM EDT Reads: 4,182
Thanks to Docker, it becomes very easy to leverage containers to build, ship, and run any Linux application on any kind of infrastructure. Docker is particularly helpful for microservice architectures because their successful implementation relies on a fast, efficient deployment mechanism – which is precisely one of the features of Docker. Microservice architectures are therefore becoming more popular, and are increasingly seen as an interesting option even for smaller projects, instead of bein...
May. 22, 2015 05:00 AM EDT Reads: 4,159
The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for applica...
May. 22, 2015 04:30 AM EDT Reads: 2,512