Los Angeles-based firm The Gores Group has hired Anthony Guagliano as a managing director in its mergers and acquisitions division.
Guagliano will focus on the business services sector and be responsible for execution and negotiation of acquisitions and divestitures in the US. Prior to joining the firm, Guagliano was a managing director at New York-based Moelis & Company, an investment bank that provides financial advisory services and capital raising solutions, where he led the M&A execution for transactions in the consumer and retail, media, healthcare, biotechnology and government services sectors. Gaugliano was previously an investment banker at UBS, where he worked on mergers and acquisitions, equity and debt security underwritings.
The addition brings the number of professionals in Gores' M&A group to 21.
Last week, Gores agreed to sell Lineage Power to General Electric in a deal valued at $520 million. The firm stands to see roughly a 3x return on investment based on the sale to GE. Gores acquired Lineage Power in January 2008 through its second fund, which closed on $1.3 billion in 2007.
Gores is nearing a final close on its third fund targeting $1.5 billion. In May 2010, the firm received a $75 million commitment from the San Diego County Employees’ Retirement Association.