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Advent International principal Gomez quits to join US Senate race

8 Mar 2013

gomezBoston-headquartered buyout house Advent International has confirmed that principal Gabriel Gomez, pictured, has resigned to run for the US Senate.

Advent spokesman Charles Dohrenwend told AltAssets that Gomez’s resignation took effect on March 2.

Dohrenwend said, “Advent International is an active member of the community in which we operate and we support involvement in areas of social responsibility, including public service.

“We respect Gabriel Gomez’s personal decision to explore his candidacy to represent Massachusetts in US Sentate.”

Dohrenwend refused to say whether the firm is already looking for a replacement, or if Gomez had raised the possibility that he might quit to focus on the campaign before handing in his resignation.

Gomez’s fellow Massachusetts Republican Mitt Romney has recently made a return to private equity by joining his son’s Boston-based firm Solamere Capital.

Since its launch in 1984 Advent has raised $26m and participated in more than 250 deals.

The firm is focused on the business and financial services, healthcare, industrial, retail and technology, media and telecoms sectors.

Back in February it was reported that Advent and some of its peers including Permira were interested in buying the ceramic hip and knee replacement arm of Rockwood Holdings.

A month earlier it emerged that Advent was planning to sell its entire stake in Switzerland-based airport retailer Dufry.

Also in January, Advent upped its offer for Dutch medical supplier and pharmacy company Mediq to €819m in a final attempt to bridge a valuation gap with shareholders.

Copyright © 2013 AltAssets

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