Global private equity firm OpenGate Capital (OpenGate) has completed its previously announced acquisition of Player One Amusement Group (P1AG) from Cineplex, a leading Canadian entertainment and media company.
OpenGate acquired all issued and outstanding common shares of P1AG for a total transaction value of CAD155m.
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 position the company to capitalise 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 theatre chains, resorts, golf entertainment centres, trampoline parks and bowling centres.
