Clearlake Proves Quite Sagacious, Courtesy of Gores Group
October 10, 2014
Clearlake Capital Group has acquired Sage Automotive Interiors, an automotive textile supplier to OEMs, from The Gores Group. The deal is rumored to be around $275 million. Remaining an independent entity as part of the transaction, Sage has almost doubled its employee count in the past five years, while adding plants in China and Poland, and investing $25 million in its South Carolina operations over the past four years. The Gores Group had backed Sage, which operates globally with manufacturing locations in the U.S., Brazil, Korea, India and the aforementioned countries, since 2011.