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EFA Partners Arranges Financing for New Cinergy Entertainment Theatre in Tulsa

November 9, 2018

Proceeds utilized for development of Cinergy’s first theatre outside of Texas

New York, NY (November 9, 2018) – EFA Partners, a boutique financial advisory firm focused on arranging capital and providing investment banking and strategic consulting services for entertainment, media and technology companies, announced that it served as the exclusive advisor to arrange financing for the new Tulsa location of Dallas-based Cinergy Entertainment, the leading chain of luxury cinema entertainment center in the country.

“I selected EFA Partners because of their years of experience and relationships in both the family entertainment center sector and film exhibition sector,” stated Jeff Benson, CEO and founder of Cinergy. “Their numerous financing relationships provided them the ability to quickly reach out to many lenders and their deep understanding of both industries allowed them to easily convey the long term value and growth of our business.”

Founded in 2009, Cinergy Entertainment is a family owned business led by Jeffrey Benson and his wife Jamie Benson. The company currently has four locations which are all in Texas, and the Bensons have significant plans to grow the business into other locations throughout the U.S.  The new entertainment center in Tulsa is tentatively scheduled to open late February 2019 and will be Cinergy's 5th location. The $10 million project will be located in the Village at Woodland Hills Shopping Center near the popular retail corner of 71st and Memorial Dr.

Cinergy Tulsa will feature the latest amenities in entertainment, making it the perfect social playground for anyone. The over 60,000 square foot complex will have 8 state-of-the-art movie theatres featuring luxury recliner heated seats with swivel tables. Guests will be served in the auditorium by a wait staff, and call buttons will provide for ease of service. Cinergy offers a premium chef-inspired dining menu which includes an extensive bar menu pouring draft beer and craft cocktails.

Cinergy Tulsa will also feature 14 lanes of boutique bowling illuminated by massive screens projecting sporting events and music videos. Guests can challenge themselves with 5 immersive escape rooms, a full-service bar accented with 75-inch TVs and an eye-catching LED lit bar top, and an extensive game floor with over 90 interactive games. Additionally, this location will have multi-sensory interactive attractions such as Hologate VR, and an XD 4D Dark Ride, which combines a motion experience with 3D graphics, special effects, and an immersive shooting gaming system.

EFA’s founders collectively have over 75 years of experience in providing financial solutions for entertainment and media companies, including mergers and acquisitions, capital placement, and advisory services. EFA’s approach for Cinergy took the financing process from start to finish. This included preparing presentation materials, approaching over 30 prospective lenders ranging from banks to specialty lenders to equipment financiers, recommending the appropriate lending partner, negotiating terms, reviewing closing documentation, and assisting in all aspects of the process through to closing.

“It’s been great working with Jeff and his team at Cinergy,” stated Kenny Favre, Managing Partner and one of the founders of EFA Partners. “They’re continuing to build unique world class entertainment venues with a wide variety of attractions so that there’s something to entice all demographics. We look forward to assisting them further as they expand across the country.”

About EFA Partners

EFA Partners is a boutique financial advisory firm that provides investment banking services focused on capital raises, mergers and acquisitions, and financial consulting services for entertainment, media and technology companies. Since its inception in 2009, EFA has been retained by over 140 clients, having arranged and advised on over $3.5 billion of financings in its targeted sectors, including advising and closing numerous sell-side transactions. EFA has a wealth of relationships from which to source capital including local and regional banks, national and international banks, specialty finance groups, equipment financiers, providers of mezzanine debt and private equity groups.

About Cinergy Entertainment

Dallas, Texas-based Cinergy Entertainment Group, Inc. is a visionary industry innovator and the leading operator of luxury cinema entertainment centers. The company currently operates four locations with 39 screens and 36 lanes of bowling and has four additional locations under development representing 38 screens and 71 lanes of bowling. All Cinergy centers feature dine-in cinemas serving alcoholic beverages and a tempting array of restaurant quality food and beverages. In addition to upscale cinema amenities, all Cinergy locations feature a unique selection of interactive games and a variety of other amenities, including bowling, billiards, patios, laser tag, escape rooms and Sky Walker an elevated ropes course. Cinergy is privately held by the Benson family. For more information, visit Cinergy at www.Cinergy.com.

Leading provider of digital media services for film and television

Background: Seasoned management team formed new film and television digital media services company and approached EFA to arrange financing for potential acquisition targets.

EFA Process: The company retained EFA to arrange acquisition financing and EFA approached several banks and specialty lenders.

Result: Closed debt financing to support two company acquisitions

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Television broadcast company owning and operating WGGB-TV and WGGB-TV D2, the ABC and FOX network affiliates serving the Springfield-Holyoke, MA market

Background: Initially approached by Gormally Broadcasting to arrange financing to recapitalize the company and fund planned acquisition growth. EFA became company’s sell-side advisor when industry changes and market forces made exploring a sale a more advantageous and financially rewarding strategic option for the company.

EFA Process: EFA was successful in securing financing commitments to fund a recapitalization and several acquisitions during the initial engagement focus. However, marketplace dynamics noted above resulted in EFA recommending a company sale. EFA provided a tailored, results-oriented approach from start to finish.

Result: EFA identified Meredith Corporation (NYSE: MDP) as the leading buyer and managed all aspects of the sale, maximizing the sales price received for the company.

start quoteIt was a pleasure working with Dave Harrington and the team at EFA. Through Dave’s deep industry knowledge, relationships and marketplace expertise, we were able to maximize the ultimate value of our company’s broadcast assets. end quote

John Gormally,
Founder, Owner and President of Gormally Broadcasting

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Growing movie theatre company that provides an in-theatre dining experience with over 100 screens throughout the US

Background: Longtime client that initially approached EFA seeking junior capital to grow its business.

EFA Process: After reviewing the company's capital structure and growth plans EFA recommended a financing structure that would recapitalize the company and provide significant growth capital.

Result: Closed two financings that recapitalized the company and provided growth for new theatres. Studio Movie Grill remains an EFA client for M&A opportunities.

start quoteWe were delighted to work with the EFA Partners team on our second successful financing with them. Their wide range of capital markets experience, banking relationships and deep knowledge of the cinema and location-based entertainment industries made them the perfect choice to assist with our financing efforts, which support SMG's active growth strategy. end quote

Brian Schultz,
Owner, founder and President of Studio Movie Grill

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Television and motion picture post-production and digital content management services

Background: Company approached EFA seeking refinancing of its debt subsequent to other advisors attempting to do so with a combination of senior debt and equity.

EFA Process: After reviewing its capital structure EFA recommended a debt structure to fully refinance the company's debt.

Result: Closed senior debt facility that refinanced the company's existing debt, which was much more cost-effective than equity.

start quoteThe EFA team proposed a creative strategy to recapitalize Modern VideoFilm that met our needs in a way that was unique and different from what other financial advisory firms proposed to us. We appreciated their understanding of the entertainment industry and EFA's extensive financial relationships and we look forward to continuing our relationship. end quote

Moshe Barkat,
CEO and President of Modern VideoFilm

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Mark Cuban and Todd Wagner's well established movie theatre company - with almost 300 screens located throughout the US

Background: Landmark approached EFA for an equipment financing to convert its screens from 35mm to digital projection.

EFA Process: While the company had many financing options given its strong ownership, its management was busy with business operations and retained EFA to handle the digital conversion financing process.

Result: Closed equipment financing facility utilized for all of its digital projectors. EFA led all aspects of the financing including negotiation of complex digital cinema conversion agreements.

start quoteEFA's unique knowledge and experience with film exhibition and digital cinema was extremely helpful in leading our financing process. Landmark prides itself in providing the best customer experience to its patrons and we are excited that this financing will allow us to continue that with our digital conversion. end quote

Sky Hansen,
Chief Financial Officer of Landmark Theatres

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Growing upscale restaurant entertainment company with venues that provide dining, bowling, arcades and live entertainment

Background: Company approached EFA seeking capital to refinance debt at its inaugural location in Jacksonville, FL.

EFA Process: After reviewing its capital structure and growth plans, EFA recommended a two-stage approach to provide development capital and equipment financing for new locations.

Result: Initially, closed a financing to refinance debt at its existing site and provided capital to develop two new sites. Subsequently closed an equipment financing for the new sites. Latitude 360 remains an EFA client for refinancing and M&A opportunities.

start quoteWe're excited to continue our relationship with the EFA team. They understand the location-based entertainment industry and have deep relationships with financiers as well as strategic industry participants, all of which will help us execute on our growth plans. end quote

Brent Brown,
Founder and President of Latitude 360

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Television industry management group formed to manage and operate US TV stations

Background: Huntington approached EFA seeking capital for potential television station acquisitions.

EFA Process: EFA understood that private equity firms and lenders are seeking experienced management teams to back for acquisition opportunities in the television sector.

Result: EFA has introduced the company to several private equity firms as well as senior lenders, resulting in bids for groups of television stations and the company continues to seek other opportunities, with EFA’s assistance.

start quoteWe are acutely aware of the trends that are transforming the local broadcast TV business and have recently begun to explore opportunities to acquire stations. We are very excited about the prospects for the industry and the opportunities to capitalize upon. We are also pleased to have EFA Partners as our financial advisor as their many years of media industry experience and extensive financial relationships will help us accomplish our goal of building a best-in-class station group.

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David Tynan,
CEO of Huntington Broadcast Management Group

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