Trans-Lux sells entertainment division
The company responsible for a small chain of southwest theaters has sold its entertainment assets.
Trans-Lux Corporation, a leading supplier of programmable electronic information displays and operator of cinemas, announced today that the company has sold its Entertainment division as planned to private equity firm Marwit Capital of Newport Beach, CA effective July 15th. Jesup & Lamont Securities Corporation acted as exclusive financial advisor for the Company in connection with this transaction. It is anticipated that Stephen J. DeGroat, former Chairman and CEO of Jesup & Lamont will continue advising on a non-exclusive basis on certain financial matters to assist in the Company’s future growth plan for the Display Division.
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