US FARATHANE CORPORATION HAS BEEN ACQUIRED BY THE GORES GROUP
Birmingham, Michigan – January 12, 2015 – Angle Advisors is pleased to announce that The Gores Group has acquired US Farathane Corporation (“US Farathane”). Angle Advisors acted as the exclusive investment banking advisor to US Farathane in completing this transaction.
Based in Auburn Hills, Michigan, US Farathane is a leading solutions partner to the North American automotive industry providing highly engineered plastic injection-molded components. US Farathane offers a wide range of full-service support from black box design concepts to highly engineered composites, as well as specialized extrusion and compression technologies. The Company’s manufacturing capabilities include multi-shot and single shot injection molding, compression molding and extrusion. US Farathane maintains 10 manufacturing facilities throughout the US.
Andy Greenlee, Chief Executive Officer of US Farathane, commented, “The Gores Group is the ideal partner for the next step of US Farathane’s evolution. We look forward to expanding our culture through strategic acquisitions, expanding our global footprint and adding technology to our arsenal. The expertise The Gores Group provides will be critical in moving US Farathane to the next level as a solution based and value driven provider. We could not be more excited about this partnership and what it means to our customers and employees. We would also like to thank the team at Angle Advisors for their expertise and guidance in managing this transaction on our behalf.”
Steve Yager, Senior Managing Director of The Gores Group, added, “US Farathane represents a compelling opportunity to partner with a world-class management team that has a proven track record of growth and execution. We are excited to partner with Andy Greenlee and the management team to meet the growing needs of customers with new products focused on efficiency and enhancing the existing product portfolio.”
The Gores Group, founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. Over its 25 year history, The Gores Group has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 34 professionals have completed 127 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.