Los Angeles-based private equity firm Gores Group has furthered its investment in Tiburon Inc., completing payment of an undisclosed amount of debt. Gores Group bought Tiburon in 2007. The company makes automated public safety and security products for law enforcement, fire and rescue and corrections agencies.
LOS ANGELES, Oct 03, 2011 (BUSINESS WIRE) — The Gores Group, a leading operations focused private equity firm, today announced that it has furthered its investment and overall commitment to Tiburon, Inc. (“Tiburon”) by completing payment on one of Tiburon’s significant debt obligations so that the company can allocate additional capital and other resources for growth opportunities.
Tiburon, which was acquired by The Gores Group in 2007, is the industry-leading provider of automated public safety and security solutions for law enforcement, fire and rescue and corrections agencies for state, local, Federal and international agencies. The company has recently taken a number of steps to grow its brand and ensure its long-term success, including the appointment of industry veteran Michael W. Bealmear as President and Chief Executive Officer. Bealmear and The Gores Group have been working together to develop and implement a new strategic operating plan for Tiburon.
“The future for Tiburon, Inc. is bright, and we are encouraged by this latest debt reduction,” commented Mr. Bealmear. “This development, together with Gores’ ongoing financial and operational support, expertise and capital commitments, has put Tiburon in a strong position to further our strategic plans for growth. It also provides the company with stability and a clear path to move forward, which should be a positive development for our employees and customers.”
Tim Meyer, Chairman of Tiburon’s Board of Directors and Managing Director for The Gores Group, added, “The Gores Group is fully committed to Tiburon and we are dedicated to helping it achieve its full potential. We will continue to invest in Tiburon and to support the company and its management team with the capital and strategic guidance that they require to provide customers with the highest quality, integrated public safety solutions.”
Established in 1980, Tiburon is the industry-leading provider of automated public safety and security solutions to meet the demanding and complex needs of law enforcement, fire and rescue and corrections agencies. Tiburon offers fully integrated solutions including computer aided dispatch, records management, mobile data and communications, field reporting and corrections management solutions. From mission-critical conditions to daily operations, across complex multi-agency and multi-jurisdictional environments, Tiburon’s integrated solutions have set the industry standard for capability, scalability and reliability for 30 years. For more information, visit www.tiburoninc.com .
About The Gores Group, LLC
The Gores Group, LLC 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, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London.