The Gores Group

The Gores Group
Limited liability company
Industry Financial services
Asset management
Founded 1987
Founder Alec Gores, chairman & CEO
Headquarters Los Angeles, California, United States
Products Private equity
Total assets $3.7 billion
Website www.gores.com

The Gores Group is a global private equity firm specializing in acquiring and partnering with mature and growing businesses. The company was founded by its CEO and chairman, Alec E. Gores.

Headquartered in Los Angeles, California, with offices in London and Boulder, Colorado, the firm claimed to have approximately $3.7 billion in assets under management on December 31, 2013,[1] and is investing from Gores Capital Partners III, L.P. and Gores Small Capitalization Partners, L.P., which have approximately $2.1 billion and $300 million in capital commitments, respectively. Since 1987, Gores has successfully acquired and operated more than 80 companies worldwide.[1]

The company's current portfolio as of 2015, includes technology, telecommunications, business services, industrial, healthcare, media & entertainment and consumer products companies.[1]

History

In 1978, Alec Gores founded Executive Business Systems, a hardware and software distributor, which he sold eight years later to establish what has become the Gores Group today.[2]

Gores closed its first institutional private equity fund, Gores Capital Partners, L.P., in November 2003 with $400 million of committed capital.[3] The firm's second fund, Gores Capital Partners II, L.P. held a final closing in June 2007 with $1.3 billion of committed capital.[4]

Timeline

1978

1987

1997

1998

2000

2003

2004

2007

2008

2010

2011

2012

2013

2014

Recognition

On December 17, 2013, at the 12th Annual M&A Advisor Awards Gala, The Gores Group was named winner of the “M&A Deal of the Year” (for transactions $500 million to $1 billion in size) for the acquisition of Stock Building Supply. Gores acquired the Company from Wolseley plc in May 2009 and priced a successful IPO in August 2013.[20]

On September 26, 2013, Cosmo Specialty Fibers was awarded the Chain-of-custody certification by the Programme for the Endorsement of Forest Certification. This certification recognizes Cosmo Specialty Fibers for using wood fiber sourced through sustainable forestry practices.[21]

On August 29, 2013, in celebration of the recent initial public offering of its stock, Stock Building Supply’s CEO, Jeff Rea, rang the opening bell of the New York Stock Exchange.[22]

On August 20, 2013, Siemens Enterprise Communications announced that it has been named as a Leader in the 2013 Magic Quadrant for Unified Communications (UC) by Gartner, Inc. Gartner evaluates a company based on its completeness of vision based on current and future market direction, innovation, customer needs, and competitive forces, and how well these map to Gartner’s overall evaluation of the market.[23]

On July 17, 2013, Entarasys Networks, a Siemens Enterprise Communications Company, was ranked fourth in overall market share among leading Ethernet Edge Switch vendors by the Dell’Oro Group’s 1Q13 Enterprise Edge Report. Dell’Oro group surveyed 30 Wireless LAN and 30 Ethernet Switch equipment vendors for this report.[24]

On May 27, 2013, Ford Motor Company announced that it is working with Gores’ Portfolio Company, Sage Automotive Interiors, to accelerate the development of recycled fabrics. Sage is Ford’s largest fabric supplier in North America, and provides Ford with fabric made from industrial waste and clear plastic water bottles. The 2013 Ford Fusion is the first vehicle sold around the world to use recycled fabrics.[25]

On October 1, 2012, The Gores Group received Private Equity International's Award for Operational Excellence in the TMT sector for Lineage Power. PEI’s Operational Excellence Awards recognize and highlight the achievements in the industry.[26]

On June 19, 2011, The Gores Group won the Global M&A Network's Atlas Award for "turnaround deal of the year", for their acquisition of National Envelope Corporation.[27]

On December 13, 2011, The Gores Group was named the winner of the Middle-Market Deal of the Year award ($50–100 million) for their acquisition of Cosmo Specialty Fibers at the 10th Annual M&A Advisor Awards. The Gores Group was selected from 389 nominations and over 500 participating companies to receive this award.[28]

Representative transactions

Portfolio

References

  1. 1 2 3 "Overview". The Gores Group. Retrieved April 9, 2013.
  2. "Fixer-upper pro loves a challenge". Docstoc.com.
  3. "Manta - Rediscover America's Small Business". Manta.
  4. "Alec Gores: '100% devoted' to private equity", Fortune, February 16, 2011
  5. 1 2 3 Company website: www.gores.com "The Gores Group"
  6. "Company Overview of the Gores Group LLC", Bloomberg Business Week
  7. "Gores Technology Group Acquires CSC Artemis", AECNews (archived), March 1, 1997
  8. "Gores Technology Group Acquires Connection Machines Services Business Unit", The Gores Group, April 16, 1997
  9. "Gores Acquires TI CIM Unit", Software Intensive Systems Engineering, June 15, 1998
  10. "Learning Co. Profits From Expense Cuts", SF Gate, March 6, 2001
  11. "Gores Technology Group Announces the Acquisition of Anker B.V.", PR Newswire, February 27, 2003
  12. "Gores Fund is looking to close Smaller Deals", Los Angeles Times, June 28, 2007
  13. "The Gores Group and Siemens AG Complete Transaction", Bloomberg, October 1, 2008
  14. "Gores Group Completes Sale of Vinotech", PE Hub, January 5, 2011
  15. "GE Energy to Acquire Gores Group's Lineage Power Holdings", Bloomberg, January 13, 2011
  16. "The Gores Group closes $2 billion private equity fund", CPI Financial
  17. "The Gores Group Debuts New Fund".
  18. Harris Corporation. "Harris Corporation to Sell Broadcast Communications to The Gores Group for $225 Million".
  19. "Stock Building Supply files to go public". Triangle Business Journal. 18 June 2013.
  20. M&A Advisor press release
  21. "Cosmo Specialty Fibers Awarded PEFC Chain-of-Custody Certification - Newstalk KBKW".
  22. "NASDAQ MarketSite Event".
  23. "Siemens Enterprise Communications Positioned as a Leader in 2013 Magic Quadrant for Unified Communications". MarketWatch.
  24. "Latest News Headlines - NASDAQ.com". NASDAQ.com.
  25. Joann Muller (27 May 2013). "Ford's Global Ambitions Include Turning The World's Plastic Bottles Into Car Parts". Forbes.
  26. "PEI Operational Excellence Awards 2012", Private Equity International, October 8, 2012
  27. "National Envelope wins Private Equity Turnaround Deal of the Year Award", Turnaround Atlas Awards, June 19, 2011
  28. "Winners Announced for the 10th Annual M&A Awards", The M&A Advisor', December 16, 2011
  29. "Premier Foods in Hovis partnership with US Gores Group". FoodManufacture.co.uk.
  30. "Stock Building Supply Announces Closing of IPO - DWM/Shelter Magazine".
  31. "The Hay Group Announces the Acquisition of Metallumform".
  32. "The Gores Group Completes the Acquisition of Therakos, Inc. from Ortho-Clinical Diagnostics, Inc. - Business Wire".
  33. http://www.charlesbank.com/news/2012/12_14_12.xml
  34. "The Gores Group Extends Binding Offer to Acquire Therakos, Inc. from Ortho-Clinical Diagnostics, Inc. - Business Wire".
  35. "Carlyle says finalises buy of France's Sagemcom from The Gores Group", Reuters, August 20, 2011
  36. "The Gores Group Acquires Sage Automotive Interiors", Yahoo Finance, May 9, 2011
  37. "GE Energy to Acquire Gores Group's Lineage Power Holdings for $520 Million", Bloomberg, January 13, 2011

External links

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