sbe Closes $25MM Facility to Fund its DRG Restaurant & Entertainment Platform's Growth with Feenix Venture Partners

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Oct 26, 2023, 09:00 ET

MIAMI, Oct. 26, 2023 /PRNewswire/ -- sbe, leading lifestyle hospitality company that develops, manages and operates world-class restaurants, lounges and nightclubs, has partnered with Feenix Venture Partners on a $25MM credit facility to expand its footprint of iconic restaurants and lounges. sbe was advised by leading independent middle market investment bank and M&A advisory firm Meridian Capital.

sbe is rapidly growing its footprint throughout Los Angeles with a series of upcoming flagship openings. Two of the world's biggest entertainment platforms, sbe and Resorts World's Zouk Group, are coming together to disrupt Los Angeles nightlife forever with the opening of Zouk LA in early 2024. Additionally, sbe is bringing Casa Dani & Katsuya's Mediterranean and Japanese cuisines to a flagship culinary epicenter in Los Angeles at Westfield Century City, with more exciting announcements and brand launches to follow soon.

As part of Sam Nazarian's plan for company's expansion and continued growth, two industry veterans recently joined sbe and subsidiary company, Disruptive Restaurant Group: Justin Fowler, COO of Disruptive Restaurant Group, formerly with Starr Restaurants, and Anthony Meidenbauer, VP of Development, formerly with Tao Group Hospitality.

Michael Siegel, Managing Director at Feenix Venture Partners, stated, "sbe and Sam Nazarian have been at the forefront of lifestyle hospitality for twenty years and have developed many marquee restaurants. Feenix is excited to partner with sbe to support their numerous growth initiatives and cannot wait to experience their new concepts and upcoming locations. The whole Meridian team was a pleasure to work with and assisted in making this transaction as smooth as possible."

Sam Nazarian, Founder & CEO, sbe, stated, "We are thrilled to launch this next chapter in sbe's storied history with a partner like Feenix by our side. They, along with our partners at Meridian, have demonstrated excitement and eagerness to help us expand our portfolio with a clear alignment on our vision for both rapid and strategic growth."

Patrick Ringland, Principal and Managing Director at Meridian, stated "Sam and his team have built an outstanding platform and we were honored to represent them in this transaction as they enter a new stage of growth. It was a pleasure to work with Michael and Feenix, and we are excited to watch what they and the sbe team are able to accomplish together."

About sbe

Established in 2002 by Founder and CEO Sam Nazarian, sbe is a privately-held, leading lifestyle hospitality company that develops, manages and operates world-class restaurants, lounges and nightclubs. Through exclusive partnerships with cultural visionaries, sbe is devoted to creating extraordinary experiences throughout its proprietary brands with a commitment to authenticity, sophistication, mastery and innovation. Over the last decade, sbe has mastered the art of creating desirable destinations; the lifestyle platform included over 100 hotels and 150 restaurants and lounges. In

2020, Sam Nazarian shifted his focus to the culinary and nightlife world by launching Disruptive Restaurant Group (DRG.) DRG incubates and operates globally renowned culinary brands including critically-acclaimed restaurants, lounges and nightclubs. By partnering with an impressive roster of internationally renowned culinary talent, DRG concepts are committed to innovation and setting new industry standards. Restaurants and lounges include: Casa Dani, by three Michelin-starred Chef Dani Garcia; Citizens; Katsuya, by Chef Katsuya Uechi; Kumi; Doheny Room; HYDE; LiFE; and S Bar. Sam

Nazarian has consistently demonstrated his ability to anticipate and shape the future of hospitality and gastronomy. With his unwavering passion, entrepreneurial prowess, and a portfolio of iconic brands, Sam has cemented his position as a trailblazer in both the hospitality and culinary world for generations to come. To learn more, visit sbe.com

Contact Information
Nina Kempner
[email protected]

About Feenix Venture Partners

Feenix Venture Partners ("Feenix") is an alternative investment firm established in 2017 and headquartered in New York City. Feenix provides growth capital through debt and equity to small and medium-sized businesses, primarily in the consumer sector. Feenix is an active investor in food & beverage, hospitality, direct-to-consumer e-commerce, SaaS, and other service businesses.

Contact Information
Michael Siegel
[email protected]

About Meridian Capital

Meridian Capital LLC (www.meridianllc.com), a Western-U.S.-based M&A advisory firm, has served as a trusted advisor to business owners on complex corporate finance, M&A, and strategic challenges for over 28 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of financial, transactional, and operational professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, agribusiness, business services, consumer, diversified industrials, engineering & construction, building products, food and beverage, technology, and telecommunications. Meridian also offers clients unparalleled cross-border capabilities through its Global M&A Partners network.

Contact Information

Patrick Ringland
Principal and Managing Director [email protected]

SOURCE sbe