Adrian J Cotterill, Editor-in-Chief
The Gores Group announced this week that it has completed the acquisition of AMI Entertainment.
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 and 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.
Mike Maas, CEO of AMI Entertainment told us “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”.
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.
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