Bell Nunnally client Studio Movie Grill (SMG), a national in-theater dining company with 333 screens, recently secured a $100M minority investment from New York-based TowerBrook Capital Partners L.P. (TowerBrook).
Founded in 1993 with a single movie screen in a rented theater, SMG is the fastest-growing, privately-owned theater brand in the U.S. and the creator of the in-theater dining concept, pairing first-run movies with craft cocktails and made-to-order food.
The strategic growth investment by TowerBrook in SMG was made through its TowerBrook Structured Opportunities Fund (TSO), established in 2015 to pursue “not-for-control opportunities, backing great management teams and businesses at the inflection point of growth and change,” as detailed in SMG’s press release on the financing.
“Bell Nunnally’s multi-disciplinary team – encompassing investment, finance, real estate, intellectual property and tax expertise – provided a key assist in helping usher in this exciting growth opportunity for Studio Movie Grill. Specifically, lead attorneys Ray Balestri and Natasha Gandhi worked tireless hours and offered unparalleled skilled counsel to achieve exceptional results,” said SMG CEO and founder Brian Schultz. “As a growing company, we are in perpetual motion, and Bell Nunnally not only helped bring the deal to fruition, they also instilled a sense of trust, knowing they were focused on protecting and growing our business.”
“Brian Schultz is the exceedingly rare combination of a creative-thinking visionary with unparalleled hands-on operating expertise,” said Bell Nunnally Partner Ray A. Balestri. “We couldn’t be more excited to watch the next phase of SMG’s growth and are grateful for the confidence they had in our firm to help shepherd through this important milestone.”
In SMG’s press release, the company noted that the TowerBrook capital infusion will help fuel their “next stage of accelerated growth.” SMG’s screens are spread throughout 32 locations in states including California, Florida, and Texas.
In addition to Balestri, senior counsel Nikki Hurst Gibson, as well as associates Natasha Gandhi, Murphy Sayre and Peter J. Kosydar, III worked with SMG in the transaction with assistance from partners Jean Pierre Boyea, D. Andrew Dowdy, Jr., Danica L. Mathes and James A. Skochdopole.
To learn more about Studio Movie Grill, please click here.
Related Media Coverage:
- Studio Movie Grill Press Release – April 3, 2019
- Restaurant Business – April 3, 2019
- Dallas Innovates – April 4, 2019
- Deadline – April 4, 2019
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