US Gores Group completes acquisition of Tyco Electronics

Lineage Holdings operates through two separate entities, Lineage Power and Vincotech. Lineage Power is headquartered in Mesquite, Texas, with approximately 1900 employees and provides power supply and power conversion products and services to telecom service providers and enterprise customers. Vincotech provides power modules and other technologies used in industrial, automotive, and GPS applications. Vincotech is based in Germany, with 600 employees and manufacturing operations in Hungary and China.

„The Gores Group is delighted to complete the acquisition of Tyco Electronics Power Systems (Lineage Holdings). With its heritage of industry leading power conversion and power module products, blue chip customers and committed employees, we believe that Lineage is well positioned to take advantage of the growth opportunities present in its industry,” said Ryan Wald, Managing Director of the Gores Group. „Gores will provide financial support and leverage its operating expertise to strengthen its leadership position worldwide and create a platform for profitable growth.” All US employees will become members of the new company on the effective date of the close, while the assets and employees of the business in Shanghai, India, Germany and certain other European jurisdictions will be transferred following the satisfaction of certain regulatory and other customary closing conditions.

Los Angeles-based Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm’s current private equity fund has committed equity capital of $1.3 billion.

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, wireless systems and undersea telecommunication systems, with fiscal 2007 sales of $13.5 billion to customers in more than 150 countries. (press release)