August 23, 2016
New York, NY (August 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 Muller Family Theatres ("Muller" or the "Company") in the completed sale of the Company's business operations and real estate assets to Northwoods Entertainment, LLC ("Northwoods"). EFA also arranged a financing of the Muller real estate as part of Northwoods' financing for its acquisition.
A leading regional theatrical exhibitor, Muller operated eight locations with a total of 104 screens throughout the Minneapolis/St. Paul area. The transaction closed on July 29, and all eight Muller theatres were immediately transitioned to Northwoods. EFA has maintained a long-term working relationship with Muller's management team, having previously served as the Company's strategic and financial advisor when it arranged financing to support Muller's conversion to digital projection.
"EFA knows our industry exceptionally well," stated Mike Muller, President of Muller. "Brandt Gully and the EFA team exceeded all expectations as they led us through the sale process. Their expertise helped secure a buyer who is an ideal fit for us, and their arrangement of financing for Northwoods enabled us to obtain the price that represented the full value of our theatres."
EFA principals utilized their 40 years of experience in providing financial solutions for film exhibition companies to execute a tailored, results-oriented approach for Muller that took the sale process from start to finish. This included garnering interest from a selection of qualified potential buyers, negotiating proposal terms, arranging financing for the buyer, and assisting with all aspects of the transaction closing, including the negotiation of sale and financing documentation.
"We're very excited about this successful sale. It has been a priority since day one of our process for the Muller family to transition the business they've built to a company that will continue to passionately serve and entertain their loyal customers. We have no doubt that Jon Goldstein and the Northwoods team will do just that," stated Brandt Gully, Managing Partner and founding principal of EFA Partners. "It has been a pleasure to work with Mike and Bob Muller over the years and to complete this sale which caps their stellar careers in the industry."
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. Its senior team has closed and managed over $14.5 billion of financings in its targeted sectors, including numerous mergers and acquisitions transactions. EFA also 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 120 clients while arranging and placing over $1.1 billion of capital and advising on nearly $2 billion of additional transactions.
About Muller Family Theatres
Muller Family Theatres, previously owned by Mike and Bob Muller, was a leading film exhibitor of eight sites with 104 screens in the Minneapolis-St. Paul, Minnesota area. The Muller family operated in Minnesota for over 90 years, establishing its first theatre in 1918.
About Northwoods Entertainment, LLC
Northwoods Entertainment, LLC is owned by Jon Goldstein of Bloomfield Hills, Michigan. Mr. Goldstein also owns and/or operates nine theatres in Michigan, Pennsylvania, New York and Indiana. Several of these theatres contain an enhanced food and beverage element and recliner seats. In addition, he developed and owns a 5,000 square foot restaurant which sits adjacent to his theater in Meadville, Pennsylvania.