Hospitality company TMG attracts $20.85 mln

Los Angeles-based The Madera Group, a hospitality company, has secured $20.85 million in funding. The investor was Breakwater Management LP.


LOS ANGELES, Nov. 28, 2018 /PRNewswire/ — Los Angeles based hospitality company The Madera Group, LLC (“TMG”) announced today the completion of a round of equity funding with a $20.85 million capital raise. The investment comes from Breakwater Management LP (“Breakwater”), a provider of flexible capital solutions to growing lower middle market companies. The investment will fund The Madera Group’s continued geographic expansion of Tocaya Organica, a fresh-casual Modern Organic Mexican concept with 10 locations across Southern California and Arizona; Toca Madera, a fine dining establishment that serves premium organic Mexican food coupled with a high-energy atmosphere; and Casa Madera, a fine dining and beach lounge concept established in partnership with Caesars Entertainment.

One of TMG’s main goals in 2018 was to bring on an institutional partner to assist in its further development. “As we institutionalize our corporate infrastructure, Breakwater has been able to provide us valuable support given its experience in the sector coupled with its understanding of our brand, long-term goals and unique value proposition,” said TMG Partner & CFO Mikey Tanha.

Saif Mansour, Managing Partner at Breakwater, commented, “The Madera Group team has done a remarkable job developing its Tocaya Organica and Toca Madera concepts, having built two strong brands with attractive unit economics and loyal customer followings. We are delighted to support them as they continue to expand their innovative dining concepts.”

Founded in 2013, TMG sets a new standard in lifestyle hospitality and continues to evolve the sustainable, health-conscious dining experience. The group’s strategic expansion includes an additional 13 venues opening throughout the U.S. and abroad by the end of 2019.

“This transaction provides us with capital to continue our rapid growth and further our goal of delivering elevated dining experiences that make eating well effortless,” said Amrou Manaseer, Co-Founder of TMG. Co-Founder Tosh Berman added, “We are thrilled to be partnering with Breakwater as we continue to open more Tocaya Organica units domestically, and selectively expand Toca Madera and Casa Madera both in the U.S. and abroad.”

About The Madera Group
Based in West Hollywood and comprised of a team of creators, innovators and developers, The Madera Group is dedicated to the evolution of hospitality. Currently, The Madera Group develops, owns and operates a collection of leading restaurant venues through Southern California and Arizona, including Tocaya Organica and Toca Madera.

About Breakwater
Based in Los Angeles, Breakwater Management LP provides flexible debt and equity capital to growing lower middle market companies. The firm aligns itself with committed management teams, owners, and sponsors, providing creative financing solutions tailored to meet individual company needs. Breakwater’s senior investment team has over 60 years of private company investing experience and has built the firm on a deep commitment to integrity, partnership and growth.