NEW YORK, NY, October 30, 2012
/24-7PressRelease/ -- EFA Partners, a financial advisory firm focused on arranging financing for the entertainment and media sectors, announced that it has arranged and closed a $50 million financing facility for Modern VideoFilm, Inc., a Burbank based provider of content creation and content management services for the film, television and digital content industries. The proceeds from the long term financing were utilized to fully refinance Modern VideoFilm's existing debt and better position the company to execute on its growth strategies via its recent investments in infrastructure and technology.
"The EFA team proposed a strategy to recapitalize our company that met our needs and was totally different than that of other financial advisory firms that had approached us," said Moshe Barkat, CEO and President of Modern VideoFilm. "We appreciated their understanding of the entertainment industry and their extensive financial relationships, and we look forward to continuing the relationship."
EFA's principals have over 30 years of collective financial experience in film services, film exhibition, film production and digital cinema, and have deep relationships within the banking and leasing communities. The EFA team has been engaged by dozens within the film industry and prides itself on providing its clients with a broad range of financing alternatives and leading the effort from the initial stages through to closing. This process allowed EFA to procure several proposals for Modern VideoFilm and assist with all aspects of the financing.
"We are excited to be a financial advisor for Modern VideoFilm, and we look forward to working with them in the future as they execute on their growth strategies", stated Ralph Willis, a founding partner with EFA Partners. "With their significant investments in technology assets plus their new locations in Burbank and Santa Monica, the company is well positioned to be a leader as the content management and content creation sectors transform for the digital age."
ABOUT EFA PARTNERS
EFA Partners is a specialized financial advisory and consulting firm focused on various entertainment and media industries including film services, film exhibition, digital cinema, television, radio, publishing and various leisure sectors. Through its network of financing sources, EFA provides capital placement services as well as a variety of transactional needs including strategic consulting for acquisitions, dispositions, and restructurings. Senior members of the firm have over 60 years of entertainment and media industry experience and have been involved in transactions valued at over $5 billion. Since its formation in early 2009, EFA has represented over 50 clients and successfully raised capital for growth, acquisitions, recapitalizations and equipment and has advised on numerous business and marketplace strategies. EFA's offices are located in New York and Atlanta. .
ABOUT MODERN VIDEOFILM
Modern VideoFilm offers television and feature film post-production services (editorial, telecine, digital intermediate, digital dailies and visual effects), digital content services (encoding, transcoding, QC and content delivery), tape duplication services, and vault security services. Modern VideoFilm recently completed construction of a new 96,000 sq. ft. location in Burbank, California and a 22,000 sq. ft. location in Santa Monica, California. In addition, last year it completed the installation of a disaster recovery site in Arizona. Incorporated in 1979, Modern VideoFilm is based in Burbank.
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