Jill Goldsmith Tom Gores’ Platinum Equity has acquired the distribution business of Deluxe Entertainment Services.Financial terms were not disclosed.
Deluxe Entertainment’s creative businesses are not included in the acquisition.Billionare Gores, owner of the Detroit Pistons, was most recently seen helping his brother, Paradigm chief Sam Gores weather a tough economy by taking an owership interest in the agency through another investment company, Crescent Drive Media.
The moved shored up finances at the company hard hit by the coronavirus crisis.Former Deluxe CEO Cyril Drabinsky, who left the company in 2016 to found CineVizion, is returning to lead the business again.
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