Divestiture • Business Services

The Gores Group Acquires Equinox Payments

On August 4, 2011, private equity firm The Gores Group acquired business services company Equinox Payments from Hypercom

Acquisition Context
  • This is The Gores Group’s 3rd transaction in the Business Services sector.
  • This is The Gores Group’s 41st transaction in the United States.
  • This is The Gores Group’s 1st transaction in Arizona.
Investment Fate
  • Equinox Payments was sold to a strategic buyer in 2014.

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M&A Deal Summary

Date August 4, 2011
Target Equinox Payments
Sector Business Services
Buyer(s) The Gores Group
Sellers(s) Hypercom
Deal Type Divestiture

Target Company

Equinox Payments

Scottsdale, Arizona, United States
Equinox Payments offers a wide-array of payment terminals that serve as content delivery platforms in both customer-activated and merchant-activated settings.
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Buyer Overview 1

Buyer

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.


Deal Context for Buyer #
Overall 47 of 74
Sector: Business Services 3 of 5
Type: Divestiture 23 of 36
State: Arizona 1 of 2
Country: United States 41 of 61
Year: 2011 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 Sagemcom

Bois-Colombes, France

Sagemcom is a designer, developer and producer of a complete line of products for the broadband, set top box and printing industries. These products include consumer faxes, terminal & pro systems, photo printers, broadband access/DSL/FTTH, residential telephones, Wifi terminals, digital set top boxes, energy metering, networking equipment, video projectors and radio /modules. Sagemcom was founded in 2008 and is based in Bois-Colombes, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-02 Mexx International BV

Amsterdam, Netherlands

Mexx is a retailer and wholesaler of metropolitan casual apparel with a significant presence in several countries in continental Europe and in Canada. Mexx was founded in 1980 and is headquartered in Amsterdam, the Netherlands.

Buy -

Seller Profile 1

SELLER

Hypercom

Scottsdale, Arizona, United States

Category Company
Founded 1978
Sector Technology Hardware
Employees1,431
Revenue 119M USD (2014)
DESCRIPTION

Hypercom Corp., is a provider of complete electronic payment solutions and value-added services at the point of transaction. Hypercom designs, manufactures and sells a variety of electronic transaction terminals, peripheral devices, transaction networking devices, transaction management systems, application software and information delivery services. Additionally, the Company provides support and related services, which include maintenance, 24/7 management and monitoring of customer networks, on-site technology assessments, network training, and design and implementation. Hypercom’s customers include domestic and international financial institutions, electronic payment processors, retailers, independent sales organizations and distributors.


Deal Context for Seller #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: Arizona 1 of 1
Country: United States 1 of 1
Year: 2011 1 of 1