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PRZOOM - /newswire/ -
New York, NY, United States, 2012/09/04 - EFA Partners, LLC, an advisory firm focused on arranging financing for the entertainment and media sectors, announced that it arranged a $6.5 million senior facility for Latitude Global, Inc., a restaurant/entertainment firm.
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Latitude’s exciting concept combines contemporary dining, luxury bowling, a dine-in movie theater, a Vegas-style showroom, an HD sports-theater, video/redemption games and live entertainment all in one upscale venue. This financing, combined with the $25 million growth facility that EFA arranged for Latitude earlier this year, provides Latitude with $31.5 million that will support their immediate expansion plans in the 4th quarter of 2012.
“Once again, EFA has been successful acting as a strategic financial partner for Latitude as we continue executing on our growth plans,” said Brent Brown, CEO and founder of Latitude Global. “This latest financing provides us with the remaining funding needed to open new locations this year, and we look forward to continuing our growing relationship with EFA as we plan on opening additional sites in the very near future.”
EFA’s principals have over 60 years of collective experience in entertainment and media finance and have deep relationships with capital providers to the industry. They concentrate on the needs of the entertainment sectors including family entertainment centers, film exhibition, theme parks/waterparks, digital cinema, film service companies, and other leisure sectors. The EFA team prides itself on providing its clients with a broad range of financing alternatives and leading the financing effort from the initial stages through to closing.
“We believed in the Latitude concept right from the start, which provides a compelling mixture of great dining and entertainment attractions for all ages, and it’s great to see the validation Latitude is receiving from capital providers”, stated Kenny Favre, a founding partner with EFA Partners. “It’s been great working with the entire team at Latitude and we’ll continue to work closely with them as they open new venues across the country.”
About EFA Partners
EFA Partners (efapartners.com) is a specialized financial advisory consulting firm focused on the entertainment and media industries. 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 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 Latitude Global
LGI (Latitude360.com) is a privately-held, independent, full-service entertainment company founded in 2009 to plan, develop, construct and operate state-of-the-art, 35,000 to 70,000 square foot premier entertainment venues. LGI and its future locations, fuse the magic of an exceptional food and beverage experience with multiple entertainment options in an upscale and contemporary-designed venue. Latitude 30, the flagship location opened in January 2011. Our newest locations, Latitude 39 in Indianapolis, IN and Latitude 40 in Pittsburgh, PA are scheduled to open in the 4th quarter 2012. The first hybrid location, Latitude 42 in Chicago, IL will occupy 34,000 square feet within an existing Regal Cinemas multiplex and is also expected to open later this year.
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