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Gores Group looks to sell Sage Automotive Interiors

23 Apr 2014

car headlightsq_lrgPrivate equity firm The Gores Group is reportedly looking to sell Sage Automotive Interiors after two years of ownership.

First round bids are due Friday and Sage is expected to be valued at seven times its current EBITDA of $42m, said PeHUB, citing three sources. Nomura is advising on the process, according to the report.

The business is likely to attract interest from mid-market firms as the deal is too small for larger buyout firms.

The report noted Kohlberg & Co, Wynnchurch Capital, theSterling Group, Insight Equity and Platinum Equity have previously invested in auto.

Earlier this month Gores invested in automotive OEM tech and publishing business Tweddle Group alongside CEO and owner Andy Tweddle.

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