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January 2014

Advisory Case Study

Setting and Achieving Clear Acquisition Expectations

A North American manufacturing division of a global firm acquired a key competitor's largest underperforming division. The post-merger enterprise had five operating locations in Minnesota. The parent company, based in Europe, set clear expectations for integration into a single, Minnesota campus within a year, with revenue growth and significant improvement in operating performance measured by EBITDA by late in the year.

Platinum guided the post-merger integration process with aggressive timelines by working closely with managers from both sides of the new enterprise, collaborating with two other consulting resources and delivering on-site guidance. A two-phase process was mapped out over 11 months. Read how Platinum guided the post-merger integration process


Platinum In the News

Platinum Wins "Transaction of the Year" Award

Platinum Group was the co-recipient of the Turnaround Management Association’s 2013 award for "Transaction of the Year" from the Upper Midwest Chapter. The award was issued for exemplary work with Fifty Below Sales and Marketing, a Duluth-based company that almost closed its doors after declaring bankruptcy.

Platinum Partner Bob Stewart worked with the bankruptcy court, the Manty Law Firm and Nauni Manty, as trustee in the case, and company management to complete two sale transactions that saved about 175 jobs in Duluth. A presentation was made to the local TMA chapter’s membership on January 16.


Platinum In the Community

Supporting the Entrepreneurial Spirit

Platinum Partner Steve Coleman is a mentor/coach for a new and unique initiative called Innové, which provides social entrepreneurial grants to "grow new ideas to serve the world." Funded by Edina-based Colonial Church, the initiative helps entrepreneurs to launch their ideas with funding and practical help from business people, artists, social services specialists, accountants, lawyers, executives, marketers, and technologists.

Steve says, "This is a great example of Platinum's Meaningful Capitalism mission — core values and expertise that focus on work that makes a difference. There’s a hunger in the marketplace for this, as evidenced by the 139 first-round applicants. Missions of the first selected projects include:

  • fighting child hunger by providing weekend food through community and school partnerships;
  • educating males about the myths and realities of sex-trafficking to decrease demand for it globally;
  • providing independent living in a Christian college setting for young adults with disabilities;
  • strengthening low-income communities by increasing access to healthy food; and,
  • providing stressed borrowers with a just pathway to financial stability.

For more information, visit the Innové web site.


Getting to Know...Dean Bachelor

Ahh…family! There's nothing like it!

By Dean Bachelor, Founding Partner

Some of Dean's grandchildren.

When I was a kid growing up on the farm, I learned a lot from my dad. A hard-working dairy farmer, he took the time to teach me many things. Diligence, perseverance, a strong work ethic and honesty were just a few of life’s lessons that were part of the day-to-day life of being a farmer. However, one of the most important lessons was to understand the importance of family.

I now find myself being the patriarch of the Bachelor family. And with that transition, comes the very real responsibility of being the one who sets the example for the next generations to come. Our four kids and nine grandkids are located all around the globe. But when everyone gathers for various holidays and all 18 of us stay in our home for extended times together, I find some of the most enjoyable and memorable times are when I have several of my grandkids snuggled on my lap. That’s when I pull out one of the many dozens of children’s books we have managed to accumulate over the years, and respond to the giggling and chatter of little boys and girls shouting, "Grandpa B, pleeeeeeeze read us a book!"

Reading a good book to the kids. Holding hands and saying a prayer around the dining room table prior to a family meal. Roasting marshmallows around the firepit down by the lake late at night while telling stories. And taking a boat ride across the lake (when the lake is not 12" thick with ice) with all the kids. These are things that create meaningful memories for our family.

Ahhh…family. There’s nothing like it.

Platinum Group
952.829.5700 • 9855 W 78th Street • Eden Prairie, MN 55344
www.ThePlatinumGrp.com

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