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Gores Group Acquires Jukebox Pioneer AMI Entertainment Network

LOS ANGELES -- Global investment firm Gores Group said it has acquired jukebox music provider AMI Entertainment Network from Harbour Group Industries. Gores purchased AMI through its Small Capitalization Partners investment fund. The transaction, terms of which were not disclosed, was completed on July 27. Founded in 1909 as the National Automatic Music Co., AMI Entertainment has been part of the bar and restaurant entertainment industry for more than a century. Today, AMI's digital jukeboxes and video s...

July 27, 2017 | Nick Montano

LOS ANGELES -- Global investment firm Gores Group said it has acquired jukebox music provider AMI Entertainment Network from Harbour Group Industries. Gores purchased AMI through its Small Capitalization Partners investment fund. The transaction, terms of which were not disclosed, was completed on July 27.

Founded in 1909 as the National Automatic Music Co., AMI Entertainment has been part of the bar and restaurant entertainment industry for more than a century. Today, AMI's digital jukeboxes and video systems deliver music, visual content and advertising to 30,000-plus locations in North America and Europe. 

"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," said AMI chief executive Mike Maas.

St. Louis-based Harbour Group, a privately owned investment group, acquired AMI's predecessor, Rowe International, in 2003. Before AMI's sale to Gores, Harbour acquired NSM Music, a leading European jukebox company based in Leeds, England, which is now part of the AMI portfolio.

"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," said Gores managing director Jon Gimbel. "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."

The Gores Group was founded in 1987 by Alec Gores. It specializes in acquiring controlling interests in mature and growing businesses that can benefit from the firm's operating experience and flexible capital base. Gores' Small Capitalization Partners targets investments in the lower middle market. The group maintains offices in Boulder, CO, and London.