Platinum Equity, a Los Angeles based global private equity firm, has agreed to acquire PrimeSource Building Products Inc., Irving, TX, from Tokyo-based Itochu Corp. The transaction is expected to close upon receiving the necessary approvals. 

“The opportunity to acquire PrimeSource is attractive for multiple reasons," said Platinum Equity partner Jacob Kotzubei, who leads the team pursuing the acquisition. "The business is an industry leader with powerful brands and a strong culture. We look forward to working with the PrimeSource leadership team to help the business reach new heights and maximize its potential.”