Platinum Equity Portfolio Company PAE Announces Merger Agreement With Gores Holdings III, Inc.
Gores Holdings III, Inc (GRSH)
Company Research
Source: Business Wire
PAE to Be Publicly Listed Company With $1.55 Billion Enterprise Value Upon Consummation of Transaction LOS ANGELES--(BUSINESS WIRE)--Platinum Equity portfolio company PAE (“PAE” or the “Company”), trusted provider of outsourced solutions for enduring missions of the United States government and international partners for over 60 years, announced it has entered into a definitive agreement and plan of merger with Gores Holdings III, Inc. (“Gores Holdings III”) (NASDAQ CM: GRSH, GRSHU, and GRSHW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC (“The Gores Group” or “Gores”). Upon closing, this transaction will introduce PAE as a publicly listed company, with an anticipated initial enterprise value of approximately $1.55 billion or 8.9x the Company’s estimated 2020 pro forma Adjusted EBITDA of approximately $174 million.The consideration payable to the stockholders of PAE will consist of a combination of cash and shares of Gores Holdings III com
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