Logan, UT, USA (June 19, 2012) — Sansei Yusoki Co., Ltd., of Osaka, Japan, listed on the Osaka Stock Exchange, 2nd Section (Code No. 6357), and S&S Worldwide, Inc., of Logan, Utah, are pleased to announce that they have entered into a binding agreement whereby Sansei will invest in S&S. The parties anticipate that this arrangement will lead to a stronger alliance. The transaction is scheduled to close on July 3, 2012.
The headquarters and manufacturing facilities of S&S will remain in Logan, Utah, and its current President and CEO, Rich Allen, will remain as President and CEO. Allen 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.” Kevin Rohwer, Vice President of Sales and Marketing, will also remain in his role with S&S, continuing to lead the company’s sales and marketing efforts.
Both companies have long histories in the development of amusement rides around the world. Current Chairman of the Board of S&S Worldwide, Jeff Koffman, who will also remain after the transaction, 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 market share in the roller coaster and high-end segment in the amusement industry.”