Pritzker Group Private Capital has acquired Milestone AV Technologies, the umbrella brand that designs, markets, and distributes mounting equipment and display solutions for the commercial and residential audio-visual market under the Chief, Da-Lite, and Sanus brands.
Milestone was purchased for an undisclosed price from The Duchossois Group, which will retain a “significant interest” in the business and continue to have representatives serve on the board of directors, according to the company’s statement.
Milestone serves more than 5,000 global customers, including professional AV dealers, regional home theater dealers, consumer electronics retailers, mass merchants, and original equipment manufacturers. The company maintains global operations with offices in the U.S., Europe, and China.
“Our acquisition of Milestone demonstrates Pritzker Group Private Capital’s strategy of investing in clear market leaders with excellent management teams,” said Tony Pritzker, Pritzker Group Private Capital managing partner. “We are well aligned with the Duchossois family in the view that our permanent, proprietary capital base allows our management teams to build great businesses over the long term. Together with the Milestone management team, we have a clear path forward that continues the company’s long history of new product innovation, international growth and add-on acquisitions.”
“Our two families have enjoyed both a personal and business relationship for over 40 years,” added Craig Duchossois, CEO of The Duchossois Group. “We look forward to our next generation of partnership. This transaction is representative of the types of opportunities that will be pursued by Duchossois Capital Management, the company we recently formed to manage our family’s strategic investments.”
Scott Gill, Milestone CEO, said that this new partnership between Pritzker Group Private Capital and Duchossois will help launch Milestone into its next phase of growth, providing resources to help it meet the evolving needs of our customers.
“The resources and experience of both organizations will drive our continued investment behind the innovative products, exceptional service and operational excellence that make a difference for our customers,” he said.