OpenGate Capital Expands Portfolio with Acquisition of Player One Amusement Group Inc.

OpenGate Capital, a global private equity firm, is set to enhance its portfolio with the acquisition of Player One Amusement Group Inc. (P1AG). The definitive agreement, signed between OpenGate Capital and Cineplex, involves the acquisition of all issued and outstanding common shares of P1AG for a transaction value of CAD $155 million. The deal, subject to customary closing conditions, is expected to be finalized in early 2024.

P1AG, headquartered in Toronto, Ontario, is a leading amusement services provider catering to customers across Canada and the US. The company specializes in amusement gaming equipment and offers outsourced operations and maintenance support to enhance location profitability and customer experience. Additionally, P1AG sources, distributes, and maintains amusement gaming equipment for commercial and retail venues throughout North America. Its clientele comprises theater chains, family entertainment centers, bowling centers, resorts, restaurants, and trampoline parks.

Andrew Nikou, the Founder and Managing Partner of OpenGate Capital, expressed excitement about the investment opportunity and the entrance of OpenGate into the resilient and growing amusement solutions market. As a corporate carve-out specialist, OpenGate Capital is well-equipped to provide comprehensive support to the management team of P1AG, ensuring the business reaches its next stage of growth.

With an expansive presence, P1AG serves approximately 2,400 customer locations and manages over 20,000 equipment assets across North America. This broad reach positions the company as a leader in the amusement industry and underscores its potential for continued success under OpenGate Capital's guidance.

OpenGate Capital, established in 2005, is a global private equity firm that focuses on acquiring and operating businesses to create new value through operational improvements, innovation, and growth. With its headquarters in Los Angeles and a European office in Paris, OpenGate combines expertise with cross-border capabilities. The firm has a successful track record, having executed over 40 platform acquisitions across North America and Europe.

The addition of P1AG to its portfolio reflects OpenGate Capital's strategy of investing in diverse businesses with significant growth potential. By leveraging its operational expertise, OpenGate Capital aims to drive value and maximize the potential of the newly acquired company.

As OpenGate Capital expands its presence in the amusement solutions market, it continues to demonstrate its commitment to strategic investments and operational excellence. The acquisition of P1AG is poised to strengthen OpenGate Capital's position as a leading private equity firm in the global market.

For more information about OpenGate Capital and its portfolio, visit [www.opengatecapital.com](https://www.opengatecapital.com).