LOS ANGELES, CA
(September 5, 2013) – Platinum Equity and The Gores Group announced today the
sale of Alliance Entertainment to California-based music and video wholesaler
Super D. Financial terms of the transaction were not disclosed.
Alliance is the
largest wholesale distributor of CD, DVD and Blu-Ray titles in the United
States, providing distribution, fulfillment and other services to such
retailers as Barnes & Noble, Amazon.com, Wal-Mart.com, Target.com and
BestBuy.com.
Platinum Equity and
The Gores Group acquired Alliance from Source Interlink Companies, Inc. in
2010.
“We are proud of
what we accomplished with Alliance Entertainment over the past three years,”
said Johnny Lopez, partner at Platinum Equity. “We achieved our goals, helping
the business thrive as it has continued navigating the evolving market for
media distribution. Earnings improved each year under our ownership and
the company made strong gains in home entertainment, e-commerce and licensing.”
Alliance also
completed two strategic add-on acquisitions, acquiring EDGE Entertainment
Distribution in March 2011 and Audiolife in May 2012. The acquisitions
helped Alliance expand into new product categories and diversify its customer
base.
Jon Gimbel, Principal
of The Gores Group, said, “We have enjoyed working with the Alliance team over
the last few years and would like to thank them for their hard work and
dedication. We are confident that Alliance will continue to prosper alongside
the Super D team.”
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global
M&A&O® firm specializing in the merger, acquisition and operation of
companies that provide services and solutions to customers in a broad range of
business markets, including information technology, telecommunications,
transportation and logistics, metals services and manufacturing. Since its
founding in 1995 by Tom Gores, Platinum Equity has completed more than 150
acquisitions.
About The
Gores Group
The Gores Group, LLC is a global investment
firm focused on acquiring controlling interests in mature and growing
businesses which can benefit from the firm's operating experience and flexible
capital base. The firm combines the operational expertise and detailed due
diligence capabilities of a strategic buyer with the seasoned M&A team of a
traditional financial buyer. The Gores Group, which was founded in 1987 by Alec
E. Gores, has become a leading investor having demonstrated over time a reliable
track record of creating substantial value in its portfolio companies alongside
management. Headquartered in Los Angeles, The Gores Group maintains offices in
Boulder, CO, and London, UK. For more information, please visit www.gores.com.
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