Avantce’ Software Completes Acquisition of Revere, Inc. from Affiliates of The Gores Group
September 5, 2006
BIRMINGHAM, AL, SEPTEMBER 5, 2006 - The Gores Group and Avantce' Software announced today that Avantce' has completed the acquisition of Revere, Inc. from affiliates of The Gores Group. Revere, Inc. is a leading provider of Enterprise Asset Management / Computerized Maintenance Management Systems.
"We are pleased to partner with Revere's management team and to play a role in guiding the company into its next phase of growth," said Jon Scheumann, a Managing Director of Avantce'. "The Revere products, including IMMPOWER and IMMPOWER SP, are premier EAM/CMMS solutions for asset-intensive companies and have a long and successful history. We expect the market for these applications to continue to grow and we believe that Revere is well positioned to serve its customers and capitalize on growth opportunities."
Aivars Lode, a Managing Director of Avantce' has assumed the role of Revere's CEO. "We seek out companies like Revere because of its history of providing premier software products to customers in asset-intensive industries" said Mr. Lode. He went on to say "The importance of EAM/CMMS will continue to grow for many corporations and based on our experience we believe that Revere has a very long and bright future ahead providing these solutions for our customers."
Jordan Katz, Principal of The Gores Group, said "Gores is pleased that we have completed the sale of Revere to Avantce' Software. We worked hard to ensure that the new owners of the business had a thorough understanding of the industry, the customers and were excited about the future of this business. We believe we found the right team in Avantce'."
Revere's products are in use at leading companies in industries such as Pulp & Paper, Oil & Gas, Mining & Minerals and Manufacturing as well as asset intensive Governmental Agencies.
The company will retain the Revere name and will be headquartered in Birmingham, AL.