The Duchossois Group, owned by the eponymous US-based family, has this week revealed it has sold it audiovisual company, Milestone AV Technologies, to a group owned by the Pritzker family.
Milestone was sold for an undisclosed sum, and the Duchossois Group will keep a significant interest in the business, with representatives on the board of directors.
The company was founded in 2008 following the merger of audiovisual accessories brand Sanus, and audiovisual mounting solutions brand, Chief. In 2011 it acquired Da-Lite, a projection screens company founded by Adele de Berri in 1909.
Pritzker Group Private Capital managing partner Tony Pritzker said the firm’s permanent, proprietary capital base allowed its management team to build great businesses over the long term. Pritzker said its strategy was to invest in market leaders with strong management teams.
Duchossois Group chief executive Craig Duchossois said the sale would launch Milestone into its next phrase of growth.
“Our two families have enjoyed both a personal and business relationship for over 40 years. We look forward to our next generation of partnership,” he said, adding, “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.”
The Duchossois Group started in 1916 as a small car repair shop, but the family has developed it into a holding company valued at more than $2 billion.
Tony Pritzker, second gens at Hyatt Hotels Corporation, co-founded Pritzker Group Private Capital in 1996 with his brother, JB. Its focus is to acquire North American-based companies with enterprise values between $100 million and $500 million.