The Gores Group Acquires AMI Entertainment
Los Angeles, CA – July 27, 2017: The Gores Group (“Gores”), a global investment firm, announced today that it has completed the acquisition of AMI Entertainment (“AMI”). Originally founded in 1909 as the National Automatic Music Co., AMI has been part of the bar and restaurant entertainment industry for more than a century. Today, AMI makes digital jukeboxes and video systems that deliver music, video and advertising content to 30,000+ locations in North America and Europe. Gores acquired AMI through its Small Capitalization Partners investment fund.
“We are thrilled to partner with Gores to continue to provide state-of-the-art entertainment to our customers. We look forward to working with the Gores team and benefiting from their expertise and financial and operational resources as we enter the next chapter of our growth,” said Mike Maas, CEO of AMI Entertainment.
Jon Gimbel, Managing Director of The Gores Group added, “AMI is a high quality leader in its space and we look forward to working closely with Mike Maas and the rest of the AMI team. Our growth capital will allow the company to continue to develop innovative products that their customers deserve while continuing to expand their geographic reach. We believe that AMI is a strong platform for growth, both organic and through acquisitions, and our flexible capital base will allow us to execute on these initiatives.”
Stephens Inc. and Peter J Solomon Company acted as financial advisors to AMI Entertainment on the transaction.
About AMI Entertainment
At AMI Entertainment Network, music is at the heart of everything we do. Founded in 1909 as an automated musical instrument company, AMI has spent more than a century developing hi-tech musical entertainment solutions for the bar, restaurant, and hospitality industries. With offices today in metro Chicago, Philadelphia, Grand Rapids, and the U.K., AMI and its network of business partners provide music and music video entertainment, as well as advanced digital advertising capabilities, to commercial businesses. For AMI’s latest innovations, visit www.amientertainment.com.
About The Gores Group
The Gores Group (“Gores”), founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. Over its 30 year history, The Gores Group has become a leading investor, having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Gores Small Capitalization Partners targets investments in the lower middle market and employs the same investment philosophy and operationally‐focused strategy that are core to Gores. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, Colorado, and London. For more information, please visit www.gores.com.
For more information, please contact:
The Gores Group
Jennifer Kwon Chou
jchou@gores.com
(310) 209‐3010