Vita Nova Finances Rock-Ola Acquisition
A British games and Jukebox entrepreneur, Alexander Walder-Smith, is acquiring Rock-Ola, the last authentic American Jukebox manufacturing company and one of the world’s most iconic Jukebox brands. Rock-Ola famously inspired the term ‘Rock and Roll’, and has been manufacturing games and Jukeboxes since 1927, starting out in Chicago and later moving to California’s West coast, seen by many as the jukebox’s spiritual home.
The Rock-Ola purchase has been financed by the Vita Nova Hedge Fund, managed by Managing Partners Group. CEO Jeremy Leach has tracked the Games Room Company’s success and has backed Walder-Smith’s transatlantic venture. Vita Nova's participation in the deal consists of equity, not debt financing.
Leach commented “We are delighted to have been involved with the acquisition of Rock-Ola, which is a perfect private equity venture for Vita Nova and it is quite special to have had the opportunity to participate in the acquisition of one of America’s most iconic brands”.
Walder-Smith plans to revolutionize Rock-Ola's market presence by manufacturing a brand new 45rpm vinyl Jukebox. The current owner Glenn Streeter will stay on for the next two years and help expand its range beyond Jukeboxes into more home entertainment and recreational room products.