A History of The Gores Group
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. Since 1987, The Gores Group has grown and evolved into an established brand. The distinctive history of the firm has shaped our ability to create value in situations characterized by complexity and operational opportunities. Here are a few of the milestones in our history:
TIMELINE OF SIGNIFICANT EVENTS
2022 – Transaction: Polestar
Gores Guggenheim completes business combination with Polestar, global premium EV company
2022 – Transaction: Sonder
Gores Metropoulos II completes business combination with Sonder, a leading next-generation hospitality company
2021 – Transaction: Ardagh
Gores Holdings V completes business combination with Ardagh Metal Packaging, a global leader in the supply of sustainable and infinitely-recyclable beverage cans
2021 – Transaction: Matterport
Gores Holdings VI completes business combination with Matterport, the spatial data company leading the digital transformation of the built world
2021 – Gores Guggenheim, Inc.
$800 million raised for Gores Guggenheim
2021 – Gores Technology Partners II, Inc.
$460 million raised for Gores Technology Partners II
2021 – Gores Technology Partners, Inc.
$275 million raised for Gores Technology Partners
2021 – Gores Holdings VIII, Inc.
$345 million raised for Gores Holdings VIII
2021 – Gores Holdings VII, Inc.
$550 million raised for Gores Holdings VII
2021 – Transaction: UWM
Gores Holdings IV completes business combination with United Wholesale Mortgage, the #1 wholesale mortgage lender in the U.S., resulting in the largest SPAC business combination to date
2020 – Gores Holdings VI, Inc.
$345 million raised for Gores Holdings VI
2020 – Transaction: Luminar
Gores Metropoulos completes business combination with Luminar, global leader in automotive lidar hardware and software technology
2020 – Gores Holdings V, Inc.
$525 million raised for Gores Holdings V
2020 – Transaction: PAE
Gores Holdings III, Inc. completes $1.6bn acquisition of PAE, leading provider of mission-critical services to the U.S. government and armed forces
2020 – Gores Holdings IV, Inc.
$425 million raised for Gores Holdings IV
2019 – Gores Metropoulos, Inc.: $400 Million Raised
2018 – Acquisition: Verra Mobility
Gores Holdings II, Inc. completes the acquisition of Verra Mobility, the leading provider of tech-enabled smart transportation solutions
2018 – Gores Holdings III, Inc.
$400 million raised for Gores Holdings III
2018 – Private Investment Office Launches
Addition of the Gores Private Investment Office to the Gores platform – primarily investing capital on behalf of the Gores family and like-minded co-investors
2017 – Gores Holdings II, Inc.
$400 million raised for Gores Holdings II
2016 – Acquisition: Hostess
Gores Holdings, Inc. completes $2.5bn acquisition of Hostess Brands from Apollo Global Management and Metropoulos & Co., raising additional $350mm PIPE
2016 – Sold: Etrali
Gores’ first Gores Small Capitalization Fund exit
2016 – USF Asia Expansion
US Farathane expands into Asia with Boston Plastics acquisition
2015 – IPO: Gores Holdings, Inc.
Gores Holdings, Inc. completes $375mm IPO
2015 – Sold: Therakos
Sold Therakos to Mallinckrodt in Gores’ largest transaction to date
2014 – Sold: Sage Automotive Interiors
Sold Sage Automotive Interiors; first significant exit in GCP III
2013 – IPO: Stock Building Supply
Stock Building Supply goes public, marking Gores’ first U.S. IPO
2012 – Gores Small Cap: $300 Million Raised
Raised $300 million in connection with debut small capitalization fund
2011 – Sold: Lineage Power
Sold Lineage Power to GE following successful carve-out / turnaround
2011 – GCP III: $2.1 Billion Raised
Gores closes on $2.1 billion in capital commitments for its third institutional fund
2010 – Sold: Vincotech
Vincotech sold to Mitsubishi Electric, further demonstrating Gores’ global reach
2008 – Joint Venture: Siemens AG
Entered into JV with Siemens AG, further establishing Gores’ reputation in Europe
2007 – GCP II: $1.3 Billion Raised
Gores closes on $1.3 billion in capital for its second institutional fund
2004 – GCP I: $400 Million Raised
Raised $400 million for first institutional fund, GCP I
2003 – Acquisition: Anker
Netherlands-based Anker BV, an independent European supplier of point of sale solutions, is acquired, firmly positioning Gores as one of the most credible investors in European assets
2000 – Carve Out: The Learning Company
Gores carves out The Learning Company from Mattel and achieves an operating profit in the first 75 days of ownership
1998 – Carve Out: Adventa
Gores carves out certain assets of the Computer Integrated Manufacturing (CIM) organization of Texas Instruments (NYSE:TXN); the portfolio company is later named Adventa Control Technologies
1997 – Carve Out: Connection Machines
Gores carves out the Connection Machines business unit from Thinking Machines Corporation
1997 – Carve Out: Artemis
Gores acquires Artemis, a subsidiary of Computer Sciences Corporation (NYSE: CSC)
1987 – The Gores Group Founded
The Gores Group is founded by Alec Gores with the single vision: to buy, fix and sell businesses