Crestview acquires the Elo Touch Solutions firm from the Gores Group

The purchase of Crestview will allow Elo Touch to leverage its resources to continue innovating and growing in the touch screen solutions market.

Crestview has signed an agreement with Gores Group to acquire Elo Touch Solutions. Terms of the deal have not been disclosed but the sale is expected to close during the fourth quarter of this year..

Based in Milpitas, California, Elo is a company that focuses its activity on the manufacturing of touch screen solutions that includes point-of-sale terminals., interactive kiosks, control interfaces for industrial and healthcare processes and interactive signage displays for 10 a 70 inches. It has more than 20 million installations in the retail and hospitality environment carried out in more than 80 countries.

The Gores Group acquired Elo Touch from TE Connectivity in June 2012. “Elo's transformation during our tenure is a testament to our strong partnership with the company's management team and our shared commitment to operational excellence and innovation.. We enjoyed working with Craig Witsoe, who has twice been CEO of Gores, to complete a division of the business and invest heavily in people, technology and infrastructure over the years. As a result, “Elo has achieved strong financial performance and is well positioned for continued growth and success.”, explains Alec Gores, President and CEO of Gores Group.

“Elo is well positioned to have created multiple industry-leading solutions for our customers with our hardware., software SaaS, secure cloud connection and component technologies. We have also invested in new manufacturing improvements, operations and systems, excellence in sales and marketing and, above all, in building an incredible Elo team”, comenta Craig Witsoe, CEO of Elo.

“We are excited to work with Crestview and leverage their extensive resources to help take Elo to the next levels of growth and innovation for our clients.”. The investment strategy, “Crestview’s culture and focus on long-term business success on a global scale is an excellent fit for the company’s future.”, continua Witsoe.

“Crestview seeks to invest in industrial companies with leading technologies at an inflection point in their growth trajectory. “Elo touchscreen solutions are well positioned to help create more differentiated interactive experiences for customers around the world.”, explica Alex Rose, partner at Crestview and co-head of industrial strategy for the company.