Wednesday, December 1, 2010
Gores Group Sells Portfolio Firm
Los Angeles-based private equity firm The Gores Group said today that it has agreed to sell one of its portfolio firms, Vincotech Holdings Sarl, to Mitsubishi Electric Corporation. Financial details of the deal were not disclosed. Vincotech is a developer, manufacturer, and distributor of power modules used in inverters, as part of industrial and solar power systems. Gores had acquired Vincotech in December 2007, from Tyco Electronics. The company said the sale does not include Vincotech's Shenzhen, China-based electronic manufacturing services business.