AMI Entertainment Network just announced its acquisition by Coral Tree Partners, a Los Angeles-based media and entertainment focused private equity firm from The Gores Group, a global investment company. Operationally, everything will stay consistent, including the AMI management team, says Mike Maas, AMI’s CEO.
“AMI leads the industry in innovation and customer service, and we’re poised to continue this strong momentum as we expand into new areas,” said Maas. “We are grateful to the Gores team for their support over the years as they have helped us build a strong foundation for future growth. Looking ahead, we are excited to leverage Coral Tree’s deep industry expertise for the benefit of our customers.” Gores and AMI have had a partnership since 2017.
Maas added that AMI will “continue to deliver industry-leading products and revenue-enhancing features, as well as introduce new products that will broaden our opportunities for growth.”
Originally founded in 1909 as National Automatic Music Co., AMI Entertainment today operates a network of more than 30,000 digital jukeboxes and video systems throughout North America and the United Kingdom.
“We are confident that this growth and success will continue, and we believe AMI has a bright future ahead with a strong partner in Coral Tree,” said Alec Gores, chairman and CEO of The Gores Group.
Added Alan Resnikoff, partner at Coral Tree: “We are extremely impressed by AMI’s track record of providing best-in-class service and see tremendous opportunity for continued growth. We look forward to leveraging our experience across media and entertainment to partner with the entire AMI team as we enter the next phase of growth.”
For more information, visit www.amientertainment.com.