OSHKOSH, Wis. — Oshkosh Corp. has signed a definitive agreement with the U.S.-based investment firm Platinum Equity to sell the Geesink Norba Group, a wholly-owned subsidiary of Oshkosh based in Emmeloord, The Netherlands. Oshkosh will retain ownership of its Romanian facility that supplies fabrications to both Geesink Norba Group and JLG Industries. Financial terms of the transaction were not disclosed. The transaction, which is subject to regulatory approval and normal closing conditions, is expected to close during the second half of Oshkosh’s fiscal year 2009.

Platinum Equity is a global M&A&O firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed nearly 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.

Platinum Equity also recently announced its acquisition of Alcoa’s wire harness and electrical distribution business.

The wire harness and electrical distribution business is the largest piece of Alcoa’s Electrical and Electronic Solutions division, and its customers include major domestic and international automotive original equipment manufacturers and tier-one suppliers. The sale includes operations in 13 countries and involves approximately 17,500 employees.
“The automotive sector plays well to our strengths,” said Phil Norment, partner at Platinum responsible for all aspects of business strategy and operations at Platinum’s portfolio companies. “It’s an industry requiring transformation, yet filled with hard-working, talented people committed to rolling up their sleeves and getting the job done. We’ve spent the last several years working in and around the auto industry and believe strongly in its potential to thrive.”