Chief/Sanus Parent Company is Sold
The Duchossois Group announced late Thursday that it has acquired Milestone AV Technologies, the parent company of the Chief and Sanus brands of mounting systems. Milestone had been owned by a group of private equity investors led by Friedman Fleischer & Lowe.
Financial terms of the transaction were not disclosed. The Minnesota-based Milestone will be operated as a wholly owned subsidiary of the Duchossois Group, and Scott Gill will remain as its CEO.
“I speak for our entire team in saying that we are absolutely delighted to join the Duchossois Group of companies,” Gill said in a statement. “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.”