Coral Tree Acquires Digital Jukebox Company AMI From Gores Group

Private equity firm Coral Tree Partners has purchased the digital jukebox service provider AMI Entertainment Network from Gores Group.

Financial details of the transaction weren’t disclosed in a statement reviewed by Bloomberg News. AMI is valued in the transaction at up to $175 million, said a person familiar with the terms who asked not to be identified because they were private.

AMI was founded in 1909 as National Automatic Music Co. The business, based in Grand Rapids, Michigan, now operates as a digital network of jukebox and video systems, delivering music content to bars and restaurants. AMI services more ...