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
MML Capital Partners (“MML”) backed IQARUS (www.iqarus.com) has acquired C-CHEC, a leading occupational hygiene consultancy. MML invested into IQARUS in October 2015 as a platform from which to develop an international player in healthcare solutions for remote environments.
C-CHEC provides a range of services to detect and control hygiene risks in the workplace. The C-CHEC acquisition enhances IQARUS’s medical and occupational health capability in what is an extremely important area for its clients in ensuring the welfare of employees.
Tim Mitchell, CEO of IQARUS comments: ’This strategic acquisition will be the first in a series that will transform the provision of healthcare solutions for challenging environments. C-CHEC are market leaders and highly respected within the global oil and gas industry and other sectors; we are very proud to now be offering this expertise. We see significant benefits to clients in delivering hygiene consultancy in tandem with medical and health provision as part of our holistic approach to managing the health and wellbeing of our clients’ workforces.’’
Luke Jones, MML, comments: “The services provided by C-CHEC are extremely complimentary to IQARUS’s current offering and strategy. We look forward to continuing to support Tim and his team in executing their ambitious growth plans.”