EDEN PRAIRIE, Minn., Aug. 9 /PRNewswire/ -- 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.
"This is the second acquisition for Platinum Group this year through our private investment fund, Platinum Holdings, which provides another way for us to assist business owners to accomplish their objectives while building on our reputation as managers of businesses experiencing critical transitions," said Dean Bachelor, chairman and founder of Platinum Group. In addition to acquiring private companies that require capital and management expertise, Platinum's core business is providing interim management and consulting services to both underperforming and growing private companies.
Platinum Group partners have assumed executive positions at Law Enforcement Targets, including Dean Bachelor as chairman and chief executive officer and Glaydon Iverson as chief financial officer. Senior partner Steve Coleman will assist in sales and marketing. Day-to-day operations continue to be managed by Cherie Manning, chief operating officer, a nine-year veteran of Law Enforcement Targets.
Platinum has invested in 15 companies over the past 12 years through its Platinum Holdings fund, including majority ownership in Eden Prairie-based Elvin Safety, Inc. this year. The firm is focused primarily on acquiring underperforming companies in need of turnaround capital and management expertise to restore value. In the case of Law Enforcement Targets, the owners wanted to sell a profitable, growing business for personal reasons.
For more information about Law Enforcement Targets, Inc., visit http://www.letargets.com .
Founded in the early 1980s, Platinum Group is an interim management, consulting and investment group that leads privately held companies through critical transitions. The firm has invested in, managed and/or advised more than 500 companies in the Upper Midwest. Platinum Group was awarded the "Turnaround of the Year" award in 2004 by the Upper Midwest Chapter of the Turnaround Management Association. For more information, visit http://www.theplatinumgrp.com .
Source: Platinum Group
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