Sonic Equipment Company, which has been under the B&B Theatres umbrella since 1965, has been sold by the Bagby family.
B&B Theatres President Bob Bagby announced this month the sale of Sonic Equipment and its companion business, Kneisley Manufacturing, to an investment group led by industry colleagues Stan Hays, Mike Clement and Keith Watanabe.
Sonic, which is headquartered in Iola, has 65 employees, with plans to expand to more than 70 with the sale. Stipulations of the sale include keeping the companys headquarters in Iola.
Sonic Equipment Company specializes in the sale, installation and service of cinema equipment, providing services to major chains and independent exhibitors on more than 1,200 screens in 37 states. Their programs include comprehensive equipping for new builds and remodels, onsite service and preventative maintenance, online and call center troubleshooting, and personalized training for theater management teams. Kneisley Manufacturing produces projector pedestals, self-service candy racks, and other cinema hardware.
We like to say were a one-stop shop, said Ron Hageman, who is being retained as Sonics executive director. There arent many people who can build or rebuild a full-service digital movie system, and then go down and fix your popcorn machine.
The sale was several months in the making, Bagby noted in a press release.
He was approached by the investment group in 2018.
As the conversations progressed, it became clear that the change in ownership would open doors for the service company due to the contacts in the marketplace of the members of the investment group, according to the press release.
The sale will bring several hundred new screens to Sonic in the coming months, and provide additional items for Kneisley to manufacture.
I am very excited for the Sonic/Kneisley teams as they move into this new phase of the business, Bagby said. I have not been able to give Sonic and Kneisley the attention that they need as my time has been focused on growing B&B Theatres. Sonic has the best service team in the industry and Im so happy that they will all be a part of this next phase of growth for both companies.
Bagby will remain involved in a consultancy capacity during the transition.
STAN Hays has been in the industry for many years overseeing more than 4,000 digital installs in the early stages of the digital conversion.
Sonic has a reputation in the industry as a premiere service provider and I am honored to help it grow into an even larger company, he said, in announcing the plans to hire seven new employees immediately so we can aggressively grow the company.
Hays, who works out of Dallas, is from Garnett.
Mike Clement has spent his career in accounting and finance helping businesses of all sizes run efficiently and successfully, including seven years with AMC and its subsidiary National Cinema Network.
Im well aware of Sonics and Kneisleys strong position in the industry and more importantly the outstanding employees responsible for making that happen, Clement said. This is an exciting opportunity for everyone involved.
