Richmond,
Virginia, – A revolution is underway in the world of
bowling and entertainment. It started today, as industry leaders
AMF Bowling Products and Italian-based Qubica Worldwide announced
that they intend to join forces. The result of this strategic
alliance, QubicaAMF Worldwide, will be one of the largest
manufacturers of bowling and amusement products in the world.
“We’re going to shake things
up,” said John Walker, President and Chief Operating
Officer of AMF Bowling Products, who will become President
and Chief Executive Officer of QubicaAMF Worldwide. “We
will work with our customers to grow their business and ours,
and provide the tools to make bowling centers one of the premier
entertainment destinations in the world.”
The two companies have signed an agreement
to form a 50/50 joint venture that is expected to be finalized
in 45 to 60 days. In anticipation of the closing and to facilitate
customer relationships, arrangements have been made for the
two companies to begin selling each other’s products
immediately.
The idea was first explored in 1999, but
serious talks started after an affiliate of Code Hennessy
& Simmons LLC (CHS), a Chicago-based private equity firm,
acquired AMF Bowling Worldwide in February of 2004.
QubicaAMF Worldwide, which will employ over
600 people, will have worldwide headquarters just outside
of Richmond, Virginia, and European headquarters in Bologna,
Italy, with a network of supporting offices around the world.
Joining Mr. Walker in running the company are Emanuele Govoni,
who was CEO of Qubica Worldwide and will act as CEO, Scoring
& Technology Solutions Division and SVP Marketing of QubicaAMF
Worldwide, and Patrick Ciniello, Chairman of Qubica and the
new President at QubicaAMF Worldwide, LLC, the U.S. subsidiary
of the new company.
“The word ‘revolutionize’
is not too strong of a word for what we plan to do,”
said Mr. Govoni of Qubica. “We will draw from the separate
experiences and expertise of Qubica and AMF, and together
bring new products to the market that will dramatically change
the world of bowling and entertainment.”
Qubica, which was founded in 1993 with 10,000
USD of capital by three original partners, Roberto Vaioli,
Luca Drusiani and Mr. Govoni, quickly became a success. The
company installed equipment for over 35,000 lanes in more
than 50 countries in just 12 years. Up to now, Qubica has
been controlled by a small group of shareholders including
BS Private Equity and the original co-founders.
It is best known worldwide for its innovative
automated scoring systems and bowling management software,
as well as traditional equipment for bowling and amusements.
Its products, such as Bowland X and BES scoring and entertainment
systems, Conqueror Pro bowling management software, Mad Lanes,
Quest furniture, and Highway 66 miniature bowling, are some
of the most advanced available.
AMF has revolutionized the bowling industry
a number of times, beginning with the invention and mass-production
of the automatic pinspotter in 1946. AMF also created the
first automated scoring system nearly 30 years ago. The company
has been known for years for quality products such as HPL
Synthetic Lanes, AMFLite II pins, and the innovative 90XLi
pinspotter. Over the years more than 10,000 bowling center
owners and operators in more than 90 countries have turned
to AMF for equipment, installation, and in-depth guidance
on their bowling investments.
“I’m very excited about this
alliance,” said Mr. Ciniello of Qubica. “The two
companies uniting to create QubicaAMF Worldwide are strong,
and each has rich histories of serving the worldwide bowling
community. Together, we will be an even greater force in the
industry.”
According to the National Sporting Goods
Association and the Bowling & Billiards Institute of America,
bowling is the top participatory sport in the United States.
There are more than 12,000 bowling centers worldwide, and
more than 70-million people bowl at least once per year in
the United States alone.
About QubicaAMF Worldwide
QubicaAMF Worldwide will be one of the largest
bowling products manufacturers and marketers in the world.
With worldwide headquarters near Richmond, Virginia and European
headquarters in Bologna, Italy, the joint venture will offer
a complete line of high-quality, innovative solutions for
new and existing bowling and entertainment centers. The merger
will not include AMF’s bowling centers which will continue
to operate as an independent company called AMF Bowling Centers,
Inc.
Additional information about QubicaAMF Worldwide
is available on the web at www.qubicaamf.com.
Photos and logo artwork are available upon request. |