About The Company:
Founded in Atlanta, Georgia in 2004 by longtime friends and neighbors Jack Canouse and Chris Albano, Stars and Strikes LLC is a leading operator of family entertainment centers throughout the Southeast, offering bowling, bumper cars, go-karting, laser tag, escape rooms, arcade games, and dining options. In addition to its diverse attractions, Stars and Strikes also excels in hosting various events such as corporate gatherings, team outings, holiday parties, banquets, and family reunions, providing a unique and memorable experience for all attendees. The Company owns and operates 16 family indoor entertainment centers across five states.
Sell-Side Mandate:
Stars and Strikes LLC contacted The Lenox Group to advise the Company on liquidity alternatives. The Lenox Group worked with the Company to identify a sale-leaseback strategy as the optimal liquidity solution. Lenox developed a complex financial model, identified and selected a uniquely targeted group of potential investors, created marketing materials, facilitated management presentations, conducted the diligence process, and negotiated with interested firms and parties.
Outcome:
The Lenox Group successfully assisted Stars and Strikes LLC on a real estate sale-leaseback transaction for several of its properties with STORE Capital (NYSE: STOR). Based in Phoenix, Arizona, STORE Capital is one of the largest and fastest-growing net-lease REITs in the United States. STORE manages a substantial and diverse portfolio of real estate operated by regional and national companies in vital, sustainable and growing industries.