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Savage. MN -- The Duchossois Group, the privately held Illinois-based
company that also owns AMX, has acquired Milestone AV Technologies, the
North American producer of mounting solutions sold principally under
the Chief and Sanus Systems brand names. The purchase was made from
private equity investors led by Friedman Fleischer & Lowe. Terms of
the all-cash acquisition were not disclosed.
“Milestone possesses all the criteria we look for in an operating
platform -- the most innovative and highest quality products sold into
growth markets, leading brand names and, above all, an exceptional
management team,” stated Robert Fealy, executive vice president of
Duchossois. “It is a great fit with our AMX, Chamberlain, and
Heath-Zenith businesses."
“I speak for our entire team in saying that we are absolutely
delighted to join the Duchossois Group of companies,” said Scott Gill,
CEO of Milestone. “We share much in common with our new sister
companies, each of which is the leader in its respective markets. That
Duchossois was willing to undertake this transaction in the face of
uncertain economic times speaks volumes about their confidence in our
ability to grow the business through the world-class products and the
high levels of service we provide to our customers around the world.”
Milestone was formed in 2004 through the combination of the two leading
mounting solutions companies, Chief Manufacturing and Sanus Systems.
The company counts among its customers the majority of consumer
electronics retailers and is also a provider of mounting solutions to
professional AV dealers and system integrators. The company is
headquartered in Minnesota and has approximately 400 employees
worldwide. Milestone will operate as a wholly-owned affiliate of the
Duchossois Group and Scott Gill will continue in his role as CEO of the
company.
