Houlihan Lokey Advises OpenGate Capital

Houlihan Lokey is pleased to announce that OpenGate Capital (OpenGate), a middle-market private equity group based in Los Angeles,  has acquired Player One Amusement Group (P1AG), a subsidiary of Cineplex, Canada’s leading entertainment and media company.  In conjunction with OpenGate’s acquisition of the company, Houlihan Lokey served as the exclusive buyside M&A and financing advisor and successfully placed a senior secured credit facility to facilitate the acquisition. The transaction closed on February 2, 2024.

OpenGate is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate is headquartered in Los Angeles, California, with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate has executed more than 40 platform acquisitions across North America and Europe.

P1AG is an amusement services provider based in Toronto, Ontario, serving customers across Canada and the U.S. The business provides amusement gaming equipment, outsourced operations, and maintenance support to customers seeking to drive superior location profitability and create a best-in-class consumer experience. In addition, the business sources, distributes, and maintains amusement gaming equipment for commercial and retail venues across North America. Customers include theater chains, family entertainment centers, and other amusement operators, including bowling centers, resorts, restaurants, and trampoline parks. P1AG serves approximately 2,400 customer locations and manages more than 20,000 equipment assets across North America.

Houlihan Lokey served as the exclusive financial advisor and exclusive placement agent to OpenGate in arranging, structuring, and negotiating the transaction. This highlights cross-group and cross-product coordination within Houlihan Lokey to provide creative, efficient, and comprehensive solutions for its clients and provides another successful outcome for Houlihan Lokey’s leading out-of-home entertainment practice and another successful capital raise for Houlihan Lokey’s Capital Markets team.