NEW YORK and DALLAS, April 3, 2019 /PRNewswire/ — Studio Movie Grill (“SMG” or “the Company”) today announced that it has received a strategic growth investment of $100 million from TowerBrook Capital Partners L.P. (“TowerBrook”), an international investment management firm. The partnership will help drive SMG’s next stage of accelerated growth, as the Company continues to open in-theater dining locations across the United States.
“This partnership allows SMG to pursue a common vision with TowerBrook and leverage our powerful community-centric business model to drive growth,” said SMG Founder and CEO Brian Schultz. “TowerBrook is an ideal partner for SMG not only because of its deep operational capabilities and strong network, but its established commitment to sustainable and socially responsible business practices as a Certified B Corporation.”
SMG created in-theater dining niche, combining an immersive theater experience, scratch food and craft cocktails, and a culture of hospitality, with a commitment to support and fund expansive community outreach programs nationwide. Since the concept was established in 1993, SMG has become a very fast growing, company-owned theater brand in the country.
“We are thrilled to partner with Brian Schultz and SMG’s management team as the Company enters its next phase of growth. Consumers are increasingly looking for high-quality experiences, and SMG has been at the forefront of innovation in this evolving industry,” said Jonathan Bilzin, Managing Director of TowerBrook.
The investment was made through the TowerBrook Structured Opportunities Fund (TSO), which was established in 2015 to pursue not-for-control opportunities, backing great management teams and businesses at the inflection point of growth and change. TowerBrook has extensive connections within the cinema and entertainment spaces through previous investments. This investment follows a number of recent similar non-control partnership transactions that TowerBrook has pursued with founder-led businesses, including GBA Group, JJA, OVH, La Maison Bleue and Gravity.