The Gores Group has completed its approximately $520 million sale of Lineage Power to GE (NYSE: GE). Lineage Power provides power conversion infrastructure technology and services for the telecommunications and datacenter industries. The company was carved out of Tyco Electronics by The Gores Group for $100 million in December 2007.
Since the beginning of 2009, PE investors have exited 108 companies engaged in the Commercial Products industry, according to the PitchBook Platform. Exit activity increased significantly from only 37 completed exits in 2009 to 61 in 2010. Even more dramatic was the change in the median exit deal amount, which more than quadrupled from $46.4 million to $218.4 million. The most active sector in the industry last year was Building Products, which accounted for 19.7% of the industry's total 2010 exit activity. While many PE investors have recently exited Commercial Products investments, the industry has continued to attract several new investments. In fact, during 2010 alone, 163 PE investors completed investments in the industry. The most active included Berkshire Partners (5 deals) and Clayton, Dubilier & Rice (5).