The Gores Group has entered into an agreement to acquire three business units from the Davis + Henderson Corporation. The three businesses are engaged in business process outsourcing, coupon and rebate processing, and real estate software. The transaction is expected to close in the second quarter of 2013.
These business units will be operated under a newly formed platform company called Millennium Process Group, which is headquartered in East Mall, Ontario with regional offices located in Saint John, New Brunswick and London, Ontario (no website found).
“The Gores Group is excited about the formation of Millennium Process Group as a result of the acquisition of these D+H assets,” said Victor Otley, Managing Director for The Gores Group. “This platform will provide current and future customers a stable service delivery platform focused on the Canadian market. The current operating teams will continue to manage these business units as we look to expand both the scope and depth of service offerings. We look forward to working with management and employees as we build out our services and capabilities independently from D+H.”
The Gores Group makes control investments in non-core, underperforming or undervalued businesses in the United States and Europe. The firm maintains an in-house team of over 60 M&A and operations professionals in the US and Europe. The Gores Group was founded in 1987 and has offices in Los Angeles, CA; Boulder, CO and London, UK (www.gores.com).
Davis + Henderson is a provider of technology services to North American banks, credit unions and other financial services providers. Services provided include loan administration services, payment services, and membership marketing programs. The company is based in Toronto (www.dhltd.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-8-13