Daily News: January 15, 2015

The Gores Group Invests in US Farathane

The Gores Group partnered with CEO Andy Greenlee and several members of the management team to purchase US Farathane. The investment will drive growth domestically and internationally.

The deal was sourced on a proprietary basis through The Gores Group’s relationship with Evergreen Capital Partners, which also co-invested in the deal. Angle Advisors acted as the exclusive financial advisor to US Farathane. BofA Merrill Lynch, Barclays and Morgan Stanley acted as financial advisors to The Gores Group, and along with Wells Fargo Capital Finance and KKR Capital Markets, provided the financing for the transaction. Weil, Gotshal & Manges acted as legal advisor to The Gores Group.

“The Gores Group is the ideal partner for the next step of US Farathane’s evolution,” said Andy Greenlee. “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.”

“US Farathane represents a compelling opportunity to partner with a world-class management team that has a proven track record of growth and execution,” added Steve Yager, Senior Managing Director of The Gores Group. “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.”

Auburn Hills, MI-headquartered US Farathane is a solutions partner to the North American automotive OEM’s providing functional black plastic, and interior and exterior plastic components.