Senate hopeful Gabriel Gomez denies a record of helping create jobs in China during his years in private equity, the Boston Globe reported Thusday.
In its review of Gomez’s tenure at the private equity firm Advent International, which the candidate has been vaguely referencing on the campaign trail as evidence of his business acumen, the Globe found that Gomez was involved in steering a company called Synventive Molding Solutions that supplies auto makers with machinery to mold parts. According to the Globe’s investigation, Synventive expanded its operations in China during the recession and pursued large tax breaks in that country even as it laid off employees in the U.S.
A former Synventive employee told the Globe: “It was a good company, except things changed a lot over the years.” He added “A lot of business went to China.”
“There weren’t jobs moved overseas,” Gomez challenged in an interview with the Globe, a position an Advent spokesman also echoed. “The biggest producers in the automotive industry back then were over in Asia.”
