MML Capital Partners (“MML”) has exited its investment in VIP Cinema Holdings, Inc. (“VIP”) following an investment made by an affiliate of H.I.G. Capital.
Headquartered in New Albany, Mississippi, VIP is the leading designer and assembler of premium seating solutions for the global cinema industry. Founded in 2008, VIP helped to pioneer the premium seating concept and is the largest manufacturer of luxury cinema seating in the world. As an innovative and value added partner to cinema exhibitors, VIP’s products have revolutionised the movie-going experience for consumers and driven attractive returns on investment for exhibitors.
In 2014, MML became management’s financial partner after making a significant investment to support VIP’s expected growth opportunities.
Steve Simons, CEO & President of VIP, stated: “During the past few years, VIP pursued significant growth opportunities in our industry. MML Capital was an excellent financial partner who supported our business plan with thoughtful input, capital resources and a flexible mind set.”
Mark Evers, an MML Partner stated: “We are delighted to have been VIP’s key financial partner to support the exceptional expansion of their customers, operations and proprietary products. VIP has established itself as the industry leader and we wish the VIP team continued success.”
Houlihan Lokey served as the company’s exclusive financial advisor. Winston and Strawn served as company counsel in connection with the transaction