April 1, 2019
New York, NY (April 1, 2019) – EFA Partners, a boutique financial advisory firm that provides investment banking and strategic consulting services for companies in the entertainment, media and technology industries, today announced that it arranged another financing for Fox Theatres, a growing film exhibition company that operates theatres in Pennsylvania and Maryland. Proceeds from the transaction repaid almost all of the company’s existing debt and provided significant capital for the expansion of the very successful Fox Berkshire in Reading, PA.
“It has been a pleasure to continue the relationship with Ralph Willis and the EFA team. We’ve worked with them for several years as we’ve continued to grow our business,” said Don Fox, President of Fox Theatres. “They have assisted us with upgrading our theatres to include 100% luxury recliner seating as well as enhanced food and beverage options, all of which have been extremely successful. Our next phase of growth is to expand our theatres starting this year with Fox Berkshire which will increase from eight to twelve luxury auditoriums that will help us to better serve our strong customer base.”
Fox Berkshire had previously been upgraded to include 100% luxury recliner seats, reserved seating, a premium large format “FTX” screen with a giant curved screen spanning wall-to-wall and floor-to-ceiling, and the “Fox Kitchen & Bar” which offers a full kitchen serving freshly prepared foods and an upscale cocktail bar. The expansion will add four new luxury auditoriums totaling over 400 seats, expanding the theatre’s capacity by almost 60%.
EFA’s principals have over 30 years of collective experience in providing financing solutions for film exhibition and leisure companies, and they have deep relationships with banks, lessors, specialty finance groups, mezzanine debt providers, and private equity groups. The EFA team prides itself on handling its clients’ financing processes from start to finish. For Fox Theatres, they garnered interest from a targeted list of prospective financiers, completed comprehensive materials to show the strength of the company and the film exhibition industry, participated in all phases of negotiations, and assisted with reviewing closing documentation.
“We have had a great relationship with Don and his team at Fox Theatres for several years and are excited to have assisted them once again,” said Ralph Willis, Managing Partner and a founding principal of EFA Partners. “Don’s theatres have demonstrated continued growth with the upgrade of luxury recliners and excellent food and beverage options. The addition of four new luxury auditoriums is the logical next step for his growing base of patrons. We look forward to assisting them with continued growth in the near future.”
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. 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.