OpenGate Capital Completes Acquisition of Player One Amusement Group Inc.
Corporate carve-out represents opportunity to capitalize on fragmented experiential entertainment market
LOS ANGELES, February 02, 2024--(BUSINESS WIRE)--OpenGate Capital ("OpenGate"), a global private equity firm, announced today that it has completed its previously announced acquisition of Player One Amusement Group ("P1AG" or "Player One") from Cineplex, Canada’s leading entertainment and media company. OpenGate acquired all issued and outstanding common shares of P1AG for a total transaction value of CAD $155 million.
"The acquisition of Player One underscores our experience and expertise with corporate carve-outs," said Andrew Nikou, OpenGate Capital’s Founder and Managing Partner. "We look forward to partnering with the team at Player One as the business embarks on its next chapter of growth."
OpenGate plans to partner with P1AG’s management team to create best-in-class experiential entertainment for consumers that drives superior location profitability for customers. P1AG’s stable customer base and differentiated value proposition uniquely position the company to capitalize on the growing and fragmented market opportunity both organically and through acquisition.
As part of the transaction, OpenGate is making strategic investments in the Company’s people, infrastructure, deployable assets, and systems to enable P1AG to better serve existing and new customers.
P1AG is an amusement services provider based in Toronto, Ontario serving customers across Canada and the US. The business provides amusement gaming equipment and outsourced operations and maintenance support to customers seeking to drive superior location profitability and create a best-in-class consumer experience. In addition, the business sources, distributes, and maintains amusement gaming equipment for commercial and retail venues across North America. Customers include theater chains, resorts, golf entertainment centers, trampoline parks, and bowling centers.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240202760262/en/
Contacts
OpenGate Media Contacts:
Prosek Partners
Email: Pro-opengate@prosek.com
Alanna Chaffin
Head of Investor Relations & Communications
Email: AChaffin@opengatecapital.com
Telephone: +1 310-432-7000
OpenGate Business Development Contact:
Joshua Adams
Email: jadams@opengatecapital.com
Telephone: +1 310-432-7000
