US-based sports bar concept Tom’s Watch Bar has concluded a $30m fundraiser and the construction of eight new super sports bars in the country.
For this transaction, family-owned investment firm Stephens was the exclusive financial adviser to Tom’s Watch Bar.
The sports bar also announced a new partnership with asset management firm Sagard Credit Partners to support its growth.
Tom’s Watch Bar co-founder Tom Ryan said: “Tom’s Watch Bar is excited for the opportunity to partner with Sagard Credit Partners for the continued growth of our innovative sports bar concept, with the goal of making every seat the best seat in the house.
“We are proud to bring our unique combination of screens, drink and food to eight more locations in the US.”
Owned by investment firm SIF Partners, Tom’s Watch Bar plans to open new units across the country as well as invest in the collection of data and technologies.
SIF Partners also offered initial equity capital to Tom’s Watch Bar.
Tom’s Watch Bar is currently discussing ten other letters of intent (LOIs) to launch new sports bars by the second half of next year and early 2024.
The company has a broad range of drinks and food items on its menu, including a wide array of domestic, imported, microbrew and craft beers.
Next month, the firm plans to open its new location in downtown Minneapolis.