Dresner Partners Advised Muvico Entertainment, L.L.C. in Its Sale to Carmike
CHICAGO, IL -- (Marketwired) -- 01/09/14 -- Dresner Partners, a
leading FINRA-registered, middle-market investment bank and IMAP
member firm, announced today that it advised Muvico Entertainment,
L.L.C. in its sale to Carmike Cinemas, Inc., for $31.75 million in
cash. The transaction closed November 20.
Headquartered in Fort Lauderdale, Fla., Muvico operates nine
entertainment complexes with a total of 147 screens in California,
Florida and Illinois. With its acquisition of Muvico, Carmike's
theatre portfolio will increase to 256 theatres and a total of 2,668
screens in 37 states.
"We are pleased that a circuit with the visionary leadership and
caliber of seasoned management of Carmike will be the new stewards of
the Muvico assets and brand," said Neil Bretan, President and Chief
Executive Officer of Muvico Entertainment, L.L.C. "We are confident
Carmike's commitment to the high level of guest service Muvico has
consistently delivered to our loyal guests over the last 20 years
will make the transition to new ownership a seamless one for all."
Mr. Bretan added, "We were very impressed by the work that Dresner
Partners performed on our behalf. They ran an excellent transaction
process while maintaining the highest standards throughout. From both
a process and valuation perspective, the firm's expertise, guidance
and support served our goals especially well."
"Carmike's acquisition of Muvico will create a win-win for the two
companies and for their customers," said Omar Diaz, Managing Director
at Dresner Partners. "Carmike is acquiring a technology leader and
industry pioneer known for best-in-class premium service. Muvico
enhances Carmike's reach in locations with attractive target
Steven Dresner, President of Dresner Partners, added, "It was a
pleasure working Muvico, which has a local connection to Chicago with
a theater in suburban Rosemont. Muvico is a top-notch player in the
film entertainment industry and a great asset for a company like
Carmike that is looking to expand into new locations."
Muvico has differentiated itself from the competition by building
architecturally themed, state-of-the-art theaters offering amenities
like expanded concession menus, VIP areas with full-service bars and
restaurants, reserved seating and Internet ticketing. Muvico offers
its guests an integrated entertainment experience that is not just
about the movie, but one where the movie is part of the overall
entertainment. The company's theaters are located in Thousand Oaks,
Calif., Rosemont, Ill., and Hialeah, Palm Harbor, Pompano Beach, St.
Petersburg, Tampa, and West Palm Beach, Fla.
About Dresner Partners
Dresner Partners is a FINRA-registered,
middle-market investment bank headquartered in Chicago, Illinois with
an office in New York City. Founded in 1991, Dresner Partners
provides financial advisory services to middle market companies
throughout the world, including institutional private placements of
debt and equity, merger and acquisitions advisory, financial
restructuring & corporate turnarounds, valuations and strategic
consulting services. Dresner Partners is also a member of IMAP, an
exclusive global organization of leading merger and acquisition
advisory firms. An affiliated company, Dresner Corporate Services, is
a strategic communications firm specializing in public and investor
relations. More information is available at www.dresnerpartners.com
For Media Inquiries:
Dresner Corporate Services
Dresner Corporate Services
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