Gores Group Buys European Manufacturer

Los Angeles private equity firm the Gores Group said this morning that it has acquired a European manufacturer, The Hay Group. The Hay Group is a manufacturer of high precision forged and machined components for engines, gearboxes and axles for the automotive, commercial vehicle and bearing industries. Financial terms of the deal were not disclosed. The Hay Group is based in Bad Sodernheim, Germany, and has over 1,600 employees.