December 8, 2010
NEW YORK / ATLANTA / BIRMINGHAM (December 8, 2010) -- EFA Partners, an entertainment financial advisory firm focused on providing financing solutions for movie exhibitors, announced that it led and advised the recently closed financing facility for Cobb Theatres, a progressive motion pictures exhibitor operating 210 screens at 17 locations throughout the Southeastern United States. The proceeds from the financing were utilized for Cobb’s digital cinema conversion, refinancing existing debt and growth capital for future acquisitions.
“We were very impressed with EFA as their financial experience with film exhibition and digital cinema allowed them to lead our financing effort from start to finish,” said Bobby Cobb, President and CEO of Cobb Theatres. “With Cobb having a tradition of innovative entertainment, our patrons will see immediate benefits from this financing as we continue our conversion to digital and, in addition, the facility provides capital for our long term growth objectives.”
EFA’s principals have over 20 years of collective experience in film exhibition finance and have deep relationships within the banking and leasing communities. This allowed them to procure numerous proposals for the Cobb financing and provide appropriate recommendations. In addition, the EFA team assisted with the negotiation of all credit documentation as well as agreements related to digital cinema.
“We are extremely pleased to support Cobb’s growth and digital objectives,” said Brandt Gully, principal of EFA Partners. “Cobb has been an industry leader for decades and we are excited to be the company’s exclusive advisory partners for its financing needs”.
ABOUT EFA PARTERS:
EFA Partners is a specialized advisory and financial consulting firm focused on providing financial services to the film and leisure industries. EFA’s personnel have provided financial solutions to the film exhibition industry for over ten years and continue to concentrate on the needs of theatre owners, digital cinema integrators, alternative content companies and film service companies. The group’s services include capital placement as well as recommendations and execution of strategies related to mergers and acquisitions, restructurings, and general business planning. EFA’s offices are located in New York and Atlanta. For additional information, visit EFA’s web site atwww.efapartners.com.
ABOUT COBB THEATRES:
Cobb Theatres, based in Birmingham, Alabama, is a progressive motion pictures exhibitor operating 210 screens at 17 locations throughout the Southeastern United States. Cobb is an innovator in out of home entertainment, offering great family values. CineBistro, the premier dinner-and-a-movie concept, is newly created by Cobb Theatres and is currently being developed around the country. For more information about Cobb Theatres or CineBistro, visit www.cobbtheatres.com or www.cobbcinebistro.com.