Duchossois Group Acquires Chief/Sanus

Privately held company also owns AMX.
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Privately held company also owns AMX.

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.