PLATINUM EQUITY TO INVEST IN GRAND APPLIANCE

Leading Midwest appliance distributor to join forces with Platinum-backed R&B Wholesale Distributors

LOS ANGELES, July 1, 2026 /PRNewswire/ -- Platinum Equity today announced a definitive agreement to invest in Grand Appliance ("Grand"), a leading Midwest retailer and distributor of appliances and consumer electronics.

Founded in 1930, Grand is a fourth-generation family-owned business built on trusted relationships, a commitment to service, and operational excellence. The company operates 31 retail locations and five distribution centers across Wisconsin, Illinois, Indiana, and Iowa, serving customers across the retail, builder, contractor, and e-commerce channels.

The company's founders will remain shareholders in the business. Terms of the transaction, which is expected to close later this month, were not disclosed.

In connection with the investment, Grand has entered into a strategic partnership with R&B Wholesale Distributors ("R&B"), a leading West Coast-based appliance distributor that Platinum Equity invested in last year.

The strategic combination will bring together two complementary businesses with established footprints and delivery and installation capabilities in their respective regions, creating opportunities to invest in growth and enhance service levels across all channels. The companies will share knowledge and best practices while preserving the unique identities and operating models that have helped make each successful.

Grand will continue to operate under its existing brand and leadership team, with President Anish Gauri stepping into the role of Chief Executive Officer of both Grand Appliance and R&B. 

"This partnership brings together two highly respected family businesses with deep legacies and distinct strengths to create one of the largest independent appliance distribution platforms in the country," said Platinum Equity Co-President Jacob Kotzubei. "By building on a shared foundation, we see an opportunity to support continued growth while preserving the values that have defined each company."

Dan Krasner, Managing Director at Platinum Equity, added, "Grand has built an impressive omnichannel platform, with a leading showroom model, growing e-commerce platform, and reputation for customer service that dates back nearly 100 years. We see meaningful opportunities for expansion going forward."

"Today marks an exciting new chapter for Grand Appliance," said Gauri. "This partnership allows us to invest in the future of our business while staying true to the values and culture that have defined Grand for generations. We are excited about the opportunities to expand our capabilities while continuing to deliver on our commitments to our valued customers, employees, and supplier partners."

Mesirow Investment Banking served as the exclusive financial advisor to Grand Appliance on the transaction and Taft served as the company's legal counsel. Massumi + Consoli served as legal counsel to Platinum Equity.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 550 acquisitions.

Contacts:

Dan Whelan
Platinum Equity
[email protected]

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SOURCE Platinum Equity