#United States #Platinum Equity #Lombard #Anuvu #Airline Services

Platinum Equity to Acquire Anuvu

Overview
Platinum Equity has taken a significant step in expanding its portfolio by announcing a definitive agreement to acquire Anuvu, a front-runner in providing entertainment and connectivity solutions for various mobility sectors, including airlines and cruise lines. Based in Lombard, Illinois, Anuvu operates on an international scale, serving more than 150 airline customers and 30 cruise-line clients worldwide.

Anuvu's Diverse Offerings
The company comprises two main divisions: Media Technology Services and Connectivity. The Media Technology Services division specializes in the licensing, distribution, localization, and delivery of entertainment content across aviation, maritime, and non-theatrical markets, boasting a rich catalog of over 400,000 titles. Meanwhile, the Connectivity division provides crucial telecommunications equipment, broadband satellite Internet access, and passenger management services, equipping airline customers with essential tools for enhancing passenger experience.

Platinum Equity's Vision
Jacob Kotzubei, Co-President of Platinum Equity, expressed enthusiasm about the potential of Anuvu. He stated, "Anuvu is a leader in delivering exceptional entertainment experiences to global aviation customers and has developed highly innovative and technologically advanced satellite connectivity and content delivery platforms." With ongoing increases in passenger traffic, many carriers are making substantial investments in connectivity and entertainment, thus improving service quality. Platinum Equity aims to leverage these tailwinds to grow Anuvu's operations effectively.

Leadership Continuity
Joshua Marks, Anuvu's CEO, will continue to lead the company post-acquisition. Marks has been fundamental in steering Anuvu through challenging transitions, including the impacts of the COVID-19 pandemic. Under his guidance, Anuvu has made significant technological and content investments, recently activating the Anuvu Constellation, which enhances aviation satellite capacity over North America. He also outlined a strategy of expanding media partnerships to provide unique content to esteemed airlines and cruise lines around the globe.

Strategic Growth Opportunities
Dan Krasner, Managing Director at Platinum Equity, sees great potential in Anuvu’s established customer relationships, skilled workforce, and extensive global presence. "These elements create a robust platform for organic growth," he remarked. There are plans not just to stick to the conventional markets, but also to tap into adjacent sectors like non-theatrical verticals, media processing, advertising, and custom service offerings, expanding Anuvu's technological capabilities further.

A Steady Future
While the financial specifics of the deal have not been revealed, the acquisition is slated to finalize in the latter part of 2025, contingent upon receiving necessary regulatory approvals. Drake Star has been appointed as the exclusive financial advisor to Anuvu during this transaction.

About Platinum Equity and Anuvu
Established in 1995 by Tom Gores, Platinum Equity stands as a leading global investment firm with around $50 billion under management and a diverse portfolio of roughly 60 operational companies across various sectors, including media, transportation, and technology. On the other hand, Anuvu connects and entertains passengers worldwide with reliable, scalable, and customer-focused connectivity solutions.

Stay tuned for further insights as this acquisition unfolds, marking a significant evolution in the landscape of entertainment and connectivity solutions for mobility industries.