Chief, Sanus Systems Get a New Home
The Duchossois Group announced that it had acquired Milestone AV Technologies from a group of private equity investors.
The Duchossois Group announced that it had acquired Milestone AV Technologies, a leading producer of mounting solutions sold principally under the Chief and Sanus Systems brand names, from a group of private equity investors. Terms of the all-cash acquisition were not disclosed.
The Duchossois Group also owns control systems manufacturer AMX.
Milestone was formed in 2004 through the combination of the two mounting solutions companies, Chief Manufacturing and Sanus Systems. The company sells through the majority of consumer electronics retailers and is also a leading provider of mounting solutions to professional AV dealers and systems 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 chief executive officer.
"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," said Robert Fealy, executive vice president of Duchossois. "It is a great fit with our AMX, Chamberlain, and Heath-Zenith businesses."