The Chicago-based private equity firm Periscope Equity recently invested in the payment solutions provider Amusement Connect, Business Wire reports. Co-founders John Tarpley and Frank Licausi, who started the company in 2017, will move forward with Amusement Connect as CEO and chief customer and brand officer, respectively. Tom Jayroe will continue as the company’s president.
Periscope will support Amusement Connect in “accelerating new product development, strengthening its sales and marketing capabilities, and expanding into new markets, with the goal of international growth,” the press release stated.
“John and Frank have already established Amusement Connect as a trusted leader in payment solutions for the amusement industry nationwide, and we see tremendous global potential,” said Periscope Principal Joe McIlhattan. “The business checks every box in Periscope’s mandate: founder-led, tech-enabled, mission-critical to its customers, and offers a wide variety of achievable value creation levers. We’re proud to back a company with such a strong reputation for innovation and customer service, and we are excited for the growth ahead.”
Licausi added: “John and I set out to bridge the gap and drive innovation in specialty payment solutions for the entire amusement industry, and we’re excited to say we’ve made an impact. We’re proud of what we’ve created, and we’re thrilled to have Periscope’s support in our next chapter.”
From his perspective, Tarpley noted: “Periscope gives us the resources to push product innovation even further and faster. Our customers will see the benefit in better tools, more features, and the same dependable U.S.-based support they count on every day.”
AMI Entertainment’s chairman, Mike Maas, has also joined with Licausi and Tarpley in this deal. He said, “I’ve known and partnered with Frank and John for a long time and believe they are incredible industry leaders with a passion for innovation and serving all customers in the space. As a longtime amusement industry leader, I’m excited to team up with Frank and John in this new capacity, as well as the Periscope team, to be a part of the next chapter.”
Learn more about them at www.amusementconnect.com.