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Platinum Equity acquires majority stake in Daum Commercial Real Estate Services

Daum Commercial Real Estate Services, a provider of services including brokerage, consulting, corporate services and property management, has announced that Platinum Equity has purchase

Daum Commercial Real Estate Services, a provider of services including brokerage, consulting, corporate services and property management, has announced that Platinum Equity has purchased a majority stake in the company on undisclosed terms.

Michael Nubel, chief executive officer of Daum Commercial Real Estate Services, says:
‘Joining forces with Platinum Equity will create tremendous opportunities for our company, our customers and our shareholders. Our team has worked hard to successfully expand Daum’s reach and service lines to meet the ever-changing needs of our clients in today’s global economy. We are now entering a new phase and partnering with Platinum Equity will unlock even greater possibilities."

Founded in 1904, Daum has ten offices throughout Southern California and Arizona. The company provides a full array of commercial real estate services, including brokerage, consulting, leasing, sales and property management.

"Daum is a respected brand with talented people and an impressive, long-standing track record," says Brian Wall, partner at Platinum who oversaw the investment. "Daum’s management team has proven its ability to consistently deliver exceptional customer service and despite a difficult economic environment we believe that the company is positioned to achieve long-term growth."

Platinum focuses on acquiring businesses that need operational support to realise their full potential.

"We have had a lot of success creating value inside companies that are navigating difficult industry dynamics," says Wall. "Platinum’s operations expertise will further strengthen Daum’s ability to manage its business through continued uncertainty, while our business development resources and access to capital can propel Daum to new levels. We look forward to helping Daum capitalize on strategic add-on opportunities and partnerships in the commercial real estate services industry."

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