OpenGate Capital has completed its acquisition of Player One Amusement Group (P1AG) from Cineplex, Canada’s leading entertainment and media company. And OpenGate acquired all issued and outstanding common shares of P1AG for a total transaction value of CAD $155 million.
OpenGate plans on partnering with P1AG’s management team to create best-in-class experiential entertainment for consumers that drives superior location profitability for customers. And 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 deal, 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. And 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. Along with 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.
KEY QUOTES:
“The acquisition of Player One underscores our experience and expertise with corporate carve-outs. We look forward to partnering with the team at Player One as the business embarks on its next chapter of growth.”
– Andrew Nikou, OpenGate Capital’s Founder and Managing Partner
