Seacoast Capital Announces Growth Recapitalization of Cinetopia
Summary
Based in Beaverton, OR, Cinetopia is one of the leading operators of premium dine-in movie theatres in the U.S., with 4 locations in the Portland, OR and Kansas City, MO DMAs. Seacoast Capitals investment will position the Company for growth as it continues de novo theatre builds in select U.S. markets in the coming years. Cinetopia offers an unparalleled immersive moviegoing experience where the viewer can effectively choose his or her own adventure -- from a VIP seating-equipped GXL theatre with 4K digital projection, an 80-foot screen and Dolby Atmos® Meyer surround sound, to an intimate Movie Parlor theatre complete with couches, wood paneling, and a fireplace -- all while enjoying upscale, all natural farm-to-table food and some of the worlds best wines and craft beers. In 2013, the Companys Vancouver Mall 23 and Progress Ridge 14 locations ranked #2 and #5 in box office gross respectively in the Portland, OR DMA out of 75 theatres. Seacoast Capital specializes in "sponsorless" transactions, preferring to deal directly with company owners or management teams, although it will selectively consider investments led by professional investor groups.