COSTA MESA, Calif., Feb. 12, 2008 (PRIME NEWSWIRE) -- Kerasotes Showplace Theatres, LLC has acquired six theaters of AGT Enterprises, Inc. and Star-Cinema, LLC. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to AGT Enterprises, Inc. and Star-Cinema, LLC.
"This transaction highlights the attractive locational fit of the six Star Theaters within the existing geographic footprint of Kerasotes' theater circuit. Additionally, Kerasotes was interested in expanding into six new high growth, non-metro areas in the important markets of Wisconsin and Iowa. The six former Star Theaters are multiplex-style and elaborately appointed," said Paul Weisbrich, senior managing director of RSM EquiCo Capital Markets.
"Kerasotes runs great theaters and shares many of the values that have helped to make Star Cinemas one of the top theater circuits in Wisconsin and Iowa. We're pleased that a company with such high standards as Kerasotes will be continuing the moviegoing tradition in these six communities. The RSM team effectively guided us through this process, and we are extremely satisfied with the results of the transaction," said Bill Adamany, shareholder of AGT Enterprises, Inc. and Star-Cinema, LLC.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm's services include mergers, acquisitions, divestitures, recapitalizations, capital raising and fairness opinions. RSM EquiCo Capital Markets, which offers in-depth expertise in 12 distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of FINRA and SIPC.
About AGT Enterprises/Star Iowa, LLC:
Founded in 1982 and based in Prairie du Chien, Wisconsin, AGT Enterprises, Inc. / Star Iowa, LLC (www.starcinema.com) owns and operates 87 screens in Wisconsin and Iowa, including an IMAX screen in Madison, Wisconsin and one currently under construction in Council Bluffs, Iowa. Star Cinemas are known for its elaborately themed lobbies, three lane drive through canopies protecting guests from inclement weather and other amenities such as high back rocking love seats, wall to wall curved screens and digital sound. AGT is the second largest theater operator in Wisconsin and ranks among the top 50 largest theater circuits nationally.
About Kerasotes ShowPlace Theatres, LLC:
Kerasotes ShowPlace Theatres, LLC (www.kerasotes.com) is the sixth largest motion picture exhibitor in the United States. Founded in 1909, the company grew from a single storefront nickelodeon in Springfield, Illinois to one of the industry's premier companies. Based in Chicago, Kerasotes ShowPlace Theatres is managed by third generation family, Tony and Dean Kerasotes, who have successfully directed the company's aggressive growth since the late 1980's. With the addition of the Star Cinemas, Kerasotes ShowPlace Theatres will operate 101 theaters with 947 screens in Illinois, Indiana, Iowa, Minnesota, Missouri, Ohio, Colorado and Wisconsin.