Utah based thrill ride manufacturers, S&S Worldwide, Inc., have entered into a binding agreement with Sansei Yusoki Co., Ltd., of Osaka, Japan, whereby Sansei will invest in S&S.
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The transaction, which it is hoped will lead to a stronger alliance between roller coaster and amusement rides manufacturers, Sansei and S&S, is scheduled to complete on July 3, 2012.
Rich Allen, President and CEO of S&S said, "The financial strength of Sansei, coupled with their strong engineering and manufacturing focus, will be a tremendous complement to S&S's patented portfolio and strong sales success all around the world."
Jeff Koffman, Chairman of the Board of S&S Worldwide, said, "It has been a pleasure getting to know the Sansei team, led by Makoto Nakagawa. I am excited about his vision for the future. Both companies are convinced that, with the strength of the combined entities, S&S will gain further marketshare in the roller coaster and high-end segment in the amusement industry."
Both Allen and Koffman will remain in their roles after the transaction, as will Kevin Rohwer, Vice President of Sales and Marketing for S&S.