AMI Announces Sale to Coral Tree Partners from The Gores Group
Summary
LOS ANGELES--(BUSINESS WIRE)--AMI Entertainment Network (“AMI”), a leading digital jukebox business that provides tech-driven in-venue digital music and video entertainment and advertising content to the bar and restaurant industries, today announced that it has been acquired by Coral Tree Partners (“Coral Tree”), a Los Angeles-based media and entertainment focused private equity firm, from The Gores Group, LLC (“The Gores Group” or “Gores”), a global investment firm. Founded in 1909 under the name National Automatic Music Co., AMI has been deeply ingrained in the bar and restaurant entertainment industry for more than a century. “ 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. We are extremely impressed by AMI’s track record of providing best-in-class service and see tremendous opportunity for continued growth. Coral Tree seeks to partner with teams where it can use its experience and relationships to provide strategic insight and drive substantial value creation.
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