Neff Owner Mad Engine Acquired
Mad Engine, the company that owns the Neff, LRG and Mighty Fine brands, has been acquired by a private equity firm.
Platinum Equity bought a controlling stake in Mad Engine, which is a large apparel company that also has licenses with a wide range of corporations including Disney, Nickelodeon and Warner Brothers.
Mad Engine’s existing shareholders and management group are maintaining a stake in the business and will continue in their leadership roles.
“We are thrilled to be joining forces with Platinum and are confident that they are the perfect partner for us,” Mad Engine CEO Danish Gajiani said in a statement. “Their fervent desire to grow the business is very exciting for all of us at Mad Engine.”
Platinum Equity operates in a wide range of industries including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology and telecommunications.
In December, Platinum Equity announced a huge deal to acquire Ingram Micro, the world’s largest technology distributor, for $7.2 billion.