Platinum Group's private equity fund has acquired the assets of G.C. Peterson Machinery Co., a St. Paul, Minn.-based company that distributes and services many brands of woodworking and plastics fabrication machinery for cabinet shops, technical schools and millwork companies.
The fund, Platinum Group Holdings II, bought Peterson Machinery from the previous owners, who had been hurt by the severe recession in the housing industry. One of the former owners, Gerry McDonald, has remained with the company in a sales role.
Platinum Partners is based in