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EFA Partners Serves as Exclusive Sell-Side Advisor to REI Cinemas in Sale of Company to Premiere Cinema Corp
January 21, 2016
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 today that it served as the exclusive sell-side financial advisor to REI Cinemas (“REI” or the “Company”) in the recently completed sale of the Company and all associated real estate assets to Premiere Cinema Corp. (“Premiere” or “Premiere Cinemas”).
A leading regional theatrical exhibitor, REI Cinemas operated three locations with a total of 26 screens throughout South Carolina. All three REI theatres were immediately transitioned to Premiere’s operations upon closing of the all-cash transaction on December 4, 2015. EFA has maintained a positive, long-term working relationship with REI’s management team, having previously served as the Company’s strategic and financial advisor where it successfully arranged equipment financing to support REI’s conversation to digital.
“EFA Partners really knows our industry and has a proven record of achieving successful outcomes on behalf of REI Cinemas.” stated Rick Robb, President of REI Cinemas. “When selecting a firm to serve as the exclusive sell-side advisor for REI, Brandt Gully and the EFA team were the natural choice for us. They led us through every step of the sale process and surpassed our expectations with the sale of our operations and real estate assets.”
EFA’s principals have over 30 years of collective experience in providing financial solutions for film exhibition companies, including M&A and advisory services. For REI, EFA adopted a tailored, results-oriented approach from start to finish— garnering interest from a selection of qualified potential buyers, negotiating terms and assisting with the transaction closing.
“After procuring several competitive bids, we were able to secure a well-capitalized buyer and successfully negotiate a purchase price that represented the full value of REI’s business,” stated Brandt Gully, Managing Partner and Founding Principal of EFA Partners. “It has been a pleasure to work with Rick and the REI executive team over the years and to complete a successful sale of the Company to Premiere Cinemas.”
About EFA Partners
EFA Partners is a boutique financial advisory firm that provides investment banking services focused on arranging capital, M&A, and financial consulting services for entertainment, leisure, media and technology companies. Its senior team has closed and managed over $14.5 billion of financings in its targeted sectors. 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. Since its formation in 2009, EFA has been retained by over 100 clients while arranging and placing nearly $1.0 billion of capital and advising on over $1.2 billion of additional transactions.
About REI Cinemas
REI Cinemas was a leading regional film exhibitor previously owned by Rick Robb and Kathleen Olander-Robb with three locations Seneca, Greenwood and Easley South Carolina.
About Premiere Cinema Corp
Premiere Cinema Corp. is one of the largest independently-owned motion picture exhibitors in the U.S., ranked by Box Office magazine and the National Association of Theatre Owners Encyclopedia of Exhibition as one of the top 20 largest cinema companies in North America. Premiere Cinemas is owned by Gary Moore with its headquarters based in Big Spring, Texas.
