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Friday, Mar 1, 2024

Gores Group Adds Jukebox Company to Firm’s Playlist

Beverly Hills private equity firm Gores Group acquired jukebox-maker AMI Entertainment Friday for an undisclosed sum.

AMI, which is headquartered in Grand Rapids, Mich., makes digital jukeboxes and other audio and video systems that it deploys in restaurants and bars around the country. AMI products can be found in more than 30,000 locations in North America, according to Gores Group. The company was founded in 1909 as National Automatic Music Co.

Gores Group Managing Director Jon Gimbel said in a statement the acquisition would allow the company to scale.

“Our growth capital will allow the company to continue to develop innovative products that their customers deserve while continuing to expand their geographic reach,” Gimbel said. “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.”

Deals & Dealmakers reporter Henry Meier can be reached at hmeier@labusinessjournal.com. Follow him on Twitter @henry_meier.

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