The Gores Group
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| 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, 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.
The company's current portfolio as of 2015, includes technology, telecommunications, business services, industrial, healthcare, media & entertainment and consumer products companies.
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.
Gores closed its first institutional private equity fund, Gores Capital Partners, L.P., in November 2003 with $400 million of committed capital. 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.
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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.
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.
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