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Wyoming — AMI Entertainment Networks LLCa supplier of digital jukeboxes and other products to the restaurant and bar industry, has been acquired by a Los Angeles-based private equity firm.
Media and entertainment-focused Coral Tree Partners has acquired AMI Entertainment Network from The Gores Group LLC, a Beverly Hills, California-based global investment firm. The Gores Group has owned Wyoming-based AMI Entertainment Network since 2017.
Terms of the deal were not disclosed.
“AMI is an industry leader in innovation and customer service, and we are poised to continue this strong momentum as we expand into new territories,” said Mike Maas, CEO of AMI Entertainment, in the deal announcement. “We are grateful to the Gores team for their support over the years, helping us build a solid foundation for future growth. Looking ahead, we are excited to leverage Coral Tree’s deep industry expertise to the benefit of our clients.”
Founded in 1909 as the National Automatic Music Co., AMI Entertainment Network today operates a network of more than 30,000 digital jukeboxes and video systems, delivering music, video and advertising content at venues in North America and the United Kingdom.The company also has offices in Chicago and the United Kingdom
“AMI is a trusted partner to thousands of bar and restaurant owners and the network of operators that support them. We have been impressed with AMI’s track record of delivering top-notch service and see great opportunity for continued growth,” Coral Tree Partners partner Alan Resnikoff said. “We look forward to leveraging our experience in media and entertainment to work with the entire AMI team as we enter our next phase of growth.”
Solomon Partners LP and Stephens Inc. acted as financial advisors to The Gores Group, and Foley Hoag LLP provided legal counsel on the transaction. Kirkland & Ellis LLP acted as legal counsel to Coral Tree Partners.
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