New York, NY – February 7, 2017 - Southern Theatres, a Veronis Suhler Stevenson (“VSS”) portfolio company, today announced that John P. Caparella has been selected as its new chief executive officer. Southern Theatres currently owns and operates 41 theatres and 476 screens in fourteen states, including 23 dine-in theatres operating under the Movie Tavern brand. Mr. Caparella has thirty years of executive experience with an extensive background in the entertainment and hospitality industries.
Mr. Caparella succeeds George Solomon, who founded the company in 2002 and is retiring after over 40 years of involvement in the industry. Mr. Solomon will, however, continue as an investor in the company and serve as Chairman of the board of directors.
“I am honored to have been selected as Southern Theatres’ next CEO. I look forward to building upon George Solomon’s vision, providing guests with an outstanding entertainment and dining experience. This is an exciting opportunity to lead an organization that is driving innovation in the industry,” said Mr. Caparella.
“We feel very fortunate to have attracted a CEO of John’s caliber to lead the company going forward. Since entering the dine-in segment of our industry with the acquisition of Movie Tavern, it became clear to me we needed someone with a strong background in food and beverage, as well as experience in entertainment and venue management, to take the company to the next level. I believe John is the right person to do just that,” said George Solomon.
Most recently, Mr. Caparella worked at The Madison Square Garden Company as Executive Vice President, Venue Management. Previously, he served as President and COO at The Venetian, The Palazzo, and Sands Expo Center where he led 8,500 associates and all related operations, including entertainment, casino, and retail. Earlier in his career, Mr. Caparella spent many years with ITT Sheraton. He has an extensive background in the food and beverage sector, having served as Director of Food and Beverage at several Sheraton locations prior to becoming General Manager of the Sheraton Manhattan Hotel in New York.
“We are very happy to have John at the helm of Southern Theatres. He brings a unique combination of skills, experience and perspective to this role. We look forward to partnering with him as he leads the company forward,” said Trent Hickman, Managing Director of VSS.
Movie Tavern has plans to open three additional locations in late 2017 and has a robust pipeline of additional locations expected to open in 2018 and beyond.
“We would also very much like to thank George Solomon for his service to the company. During the period we have partnered with George, the company has grown from approximately $10 million in revenue to over $250 million, a remarkable achievement,” commented Jeffrey Stevenson, Managing Partner of VSS.
VSS (www.vss.com) is a leading private equity investment firm that invests in the information, business services, healthcare, and education industries. VSS provides capital for growth, recapitalizations, strategic acquisitions and buyouts to lower middle market companies and management teams with the goal of building companies organically as well as through a focused add-on acquisition program. VSS makes privately-negotiated investments across the capital structure and has the ability to invest in situations requiring control or non-control equity, mezzanine and structured equity securities.
About Southern Theatres
Southern Theatres is the