Tom Gores — Platinum Equity

Founder and Chief Executive

THE LATEST: In February, Platinum Equity sold portfolio company PAE, a major supplier of services to the U.S. State Department, to a special purpose acquisition company operated by the Gores Group, which is headed by Alec Gores, the older brother of Tom Gores. Platinum’s largest acquisitions in the past year include marketing services firm Cision Ltd. for $2.7 billion and technology logistics firm Ingram Micro for $7.2 billion. Platinum Equity closed its flagship fund in January 2020 for $10 billion, the firm’s highest raise. It also runs the Platinum Equity Small Cap Fund, a $1.5 billion buyout fund.
BACKGROUND: Gores founded Platinum Equity in 1995, and it has grown into one of the largest private equity firms in Los Angeles, with approximately $23 billion in assets under management. Platinum has completed more than 300 deals and has a portfolio of about 40 operating companies. Gores has an estimated net worth of $5.6 billion and was No. 13 on the Business Journal’s 2020 list of Wealthiest Angelenos. The Michigan native purchased the Detroit Pistons in 2011 along with his firm.
YEARS ON THE LA500: 6
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