AVANTCÉ SOFTWARE COMPLETES ACQUISITION OF REVERE, INC. FROM AFFILIATES OF THE GORES GROUP
SEPTEMBER 5, 2005 – BIRMINGHAM, AL – The Gores
Group and Avantcé Software announced today that Avantcé has completed the
acquisition of Revere, Inc. from affiliates of The Gores Group. Revere, Inc. is
a leading provider of Enterprise Asset Management / Computerized Maintenance
Management Systems.
"We are pleased to partner with Revere’s management team and to play a role in
guiding the company into its next phase of growth," said Jon Scheumann, a
Managing Director of Avantcé. "The Revere products, including IMMPOWER and
IMMPOWER SP, are premier EAM/CMMS solutions for asset-intensive companies and
have a long and successful history. We expect the market for these applications
to continue to grow and we believe that Revere is well positioned to serve its
customers and capitalize on growth opportunities.”
Aivars Lode, a Managing Director of Avantcé has assumed the role of Revere’s CEO.
“We seek out companies like Revere because of its history of providing premier
software products to customers in asset-intensive industries” said Mr. Lode. He
went on to say “The importance of EAM/CMMS will continue to grow for many
corporations and based on our experience we believe that Revere has a very long
and bright future ahead providing these solutions for our customers.”
Jordan Katz, Principal of The Gores Group, said “Gores is pleased that we have
completed the sale of Revere to Avantcé Software. We worked hard to ensure that
the new owners of the business had a thorough understanding of the industry, the
customers and were excited about the future of this business. We believe we
found the right team in Avantcé.”
Revere’s products are in use at leading companies in industries such as Pulp &
Paper, Oil & Gas, Mining & Minerals and Manufacturing as well as asset intensive
Governmental Agencies.
The company will retain the Revere name and will be headquartered in Birmingham,
AL.
About Revere, Inc.
Established in 1981, Revere has over 20 years of experience with Enterprise
Asset Management (EAM) and CMMS (Computerized Maintenance Management System)
software implementations worldwide. Revere employs a team of industry
consultants to assist in implementing the software and to meet the customer’s
business requirements.
Revere’s focus is to provide software-based EAM solutions and complimentary
products to companies where asset management is mission-critical and the capital
assets are essential to generating revenue. Revere designs its solutions
specifically for the needs of industries such as upstream and downstream
petroleum, power generation, chemical process, pulp and paper, mining, metals,
and transportation.
Revere utilizes its extensive technical and industry knowledge base to provide
leading EAM/CMMS including Shutdown Planning and Turnaround systems, Wireless
Handheld Devices, Complete Integration services and Custom Programming for its
customers.
Revere Inc., headquartered in Birmingham, Alabama. For more information please
visit www.revereinc.com.
About Avantcé
Avantcé Software is a private investment company focused on investments in the
Information Technology industry. Avantcé’s investment strategy is to purchase
equity interests in companies and apply additional capital for growth opportunities
and consolidation acquisitions.
The Principals of Avantcé have a collective experience of over 60 years in the supply
chain execution, software and professional services industries. Between them the
Principals have participated in over 40 successful transactions. Leveraging this
experience, Avantcé is focused on additional acquisitions within the software industry.
For more information see www.avantce.com.
About The Gores Group
Founded in 1987, The Gores Group is a private equity firm focused on acquiring
controlling interests in mature and growing businesses which can benefit from
the firm's operating experience and flexible capital base. The firm combines the
operational expertise and detailed due diligence capabilities of a strategic
buyer with the seasoned M&A team of a traditional financial buyer. The Gores
Group has become a leading investor, primarily in the technology and
telecommunications sectors, having demonstrated over time a reliable track
record of creating substantial value in its portfolio companies alongside
management. Headquartered in Los Angeles, California, The Gores Group maintains
offices in Boulder, Colorado and London. For more information please visit
www.gores.com.
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