Westbrooke Alternative Asset Management UK Limited and the Firmament Group are pleased to be providers of a refinance and growth capital facility to Pearl and Dean Cinemas
17 January 2020
Westbrooke Alternative Asset Management UK Limited (“Westbrooke”) and the Firmament Group (“Firmament”) are pleased to be providers of a refinance and growth capital facility (the “Facility”) to Pearl and Dean Cinemas (“P&D”) and its sister company Wide Eye Media (“WEM”). P&D and WEM are leading cinema advertising companies that provide turnkey solutions to support cinema operators, advertisers, and agencies. P&D holds #2 market share in the UK, while WEM holds #1 market share in Ireland.
Westbrooke, via its fund, Westbrooke Yield Plus Limited, and through its co-investment partners (the “Consortium”) provided a significant portion of the senior debt to facilitate the refinance of existing debt facilities. In addition, the Consortium invested alongside Firmament into a preferred equity tranche to support future growth initiatives.