TriWest Announces Investment in Landmark Cinemas
January 24, 2014 – TriWest Capital Partners, in partnership with the senior management team, is pleased to announce that it has acquired a majority interest in Landmark Cinemas (“Landmark”) and financed the equity for the acquisition of the Western Canadian and select Ontario theatres from Empire Theatres. This investment represents TriWest’s fourth portfolio company in Fund IV.
Established in 1965 and based in Calgary, Landmark has grown to become a theatre operator with a total of 31 theatres and 125 screens in 27 cities throughout Western Canada. With the concurrent acquisition of Empire’s Western Canadian and Ontario assets, Landmark will increase its total theatre and screen count to 53 and 352 respectively. Landmark, in addition to its core theatre operations, offers a film buying and booking service for independent theatres, through its Theatre Agencies division, and provides digital cinema equipment sales and service and concession sales and service, through its King Cinema Services division, to supplement its core in-theatre revenue streams.
“We are very excited to partner with the Senior Management of Landmark on the transformational acquisition of the Empire theatres, as the combined entity will be the second largest movie exhibition company in Canada and the tenth largest in North America” said Senior Managing Director, Cody Church. “Our team is pleased to be partnering with very experienced theatre operators with a proven track record of success in the industry”.
Landmark President, Brian McIntosh, commented, “The Management Shareholder Group of Landmark, including Principals Neil Campbell, Damien Cheng and myself, are enthused to be partnering with TriWest and look forward to their ongoing support in the integration of the Empire theatres and other growth initiatives that we have planned for the future”.
More information about Landmark can be found at www.landmarkcinemas.com.
About TriWest
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over $775 million in committed capital through four funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value.