Advent International, a private equity investor, has partnered with Enjoy S.A.’s founding Martinez family to acquire up to 100 percent of the shares in Enjoy S.A. that are up for sale in a tender offer.
Javier Martinez, chairman of Enjoy’s board of directors, said, “We believe that Advent will enable us to build upon our momentum and achieve our growth goals over the long term to perpetuate my father’s legacy.”
Gerardo Cood, chief executive officer of Enjoy added, “Advent has a robust track record of investing in and growing companies with strong operations and we welcome their expertise. Advent is the right partner to help us as we continue to focus on developing the entertainment industry and leveraging expansion opportunities in Chile and the surrounding region. We are excited for our path forward and remain committed to providing premium gaming and hospitality services to all of our casino and resort guests.”
Enjoy was founded 40 years ago and now has ten casinos and ten hotels in four South American countries. It has more than 6,000 slots, 350 table games, 1,200 hotel rooms and 30 restaurants.
Mauricio Salgar, managing director of Advent International commented,
“We are excited to partner with the Martinez family and the outstanding Enjoy management team. This transaction will be our first direct investment in Chile and in the fast-growing gaming industry. We believe Enjoy is well-positioned to continue capturing growth opportunities through a variety of initiatives and we look forward to supporting Gerardo and his team.”
Advent is a 20-year old company that has made 55 investments in Latin America and has a network of 40 investment professionals throughout South America.
