The Firmament Group Invests In Pearl & Dean And Wide Eye Media
LONDON, July 16, 2019 /PRNewswire/ -- The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today an investment in Pearl & Dean ("P&D") and its sister business, Wide Eye Media ("WEM"). Both businesses are leading cinema advertising companies that provide turnkey solutions to support cinema operators, advertisers, and agencies in the United Kingdom and Ireland. The transaction was completed by Firmament's investment team in London, which is led by Principals Marion Bernard and Tedmond Wong.
As a provider of bespoke capital solutions, Firmament together with Westbrooke Alternative Asset Management ("Westbrooke"), provided both debt and equity capital to P&D and WEM to refinance existing debt facilities at both companies and to support future growth initiatives. Specific terms of the transaction were not disclosed.
Tedmond Wong, Principal at Firmament said, "We are proud to serve as a financing partner for these two long-standing leaders in the cinema industry. The businesses are an excellent fit with our investment strategy given their leading market position, sterling reputation, and strong customer relationships. We are delighted to work with the teams at Pearl & Dean and Wide Eye Media in the coming years." Marion Bernard, Principal and UK Managing Director at Firmament elaborated, "As a dedicated funder to SMEs across the United Kingdom and the Republic of Ireland, we could not be more pleased to support an iconic British brand like Pearl & Dean and Dublin based Wide Eye Media."
"Firmament and Westbrooke have recognised the strength of our brands in the marketplace and the continued relevance of film and cinema to both audiences and advertisers. We look forward to working with them on new developments within the group and welcome our new partners," said Kathryn Jacob OBE, CEO of Pearl & Dean.
Eoin Wrixon, CEO of Wide Eye Media added, "Wide Eye Media has always been focused on growing our delivery, relevance and solutions for our clients. With Firmament and Westbrooke alongside us, we can continue to ensure that Wide Eye Media and our outdoor offering maintain our momentum within the Irish market."
About Pearl & Dean
Pearl & Dean is a British cinema advertising company, founded in 1953 by Ernie and Charles Pearl and Bob Dean. Pearl & Dean represents a wide range of cinemas, including independent operators and multiplex chains offering landmark locations throughout the United Kingdom.
About Wide Eye Media
Headquartered in Dublin, Ireland, Wide Eye Media is a team of marketers who create, shape and deliver interactive, high impact advertising across cinemas in Ireland. Wide Eye Media works closely with its cinema partners to ensure the best experience and environment for both advertisers and cinema goers. With its in-house team of experts, Wide Eye Media is able to offer conversion service to easily adapt commercials to cinema formats.
About The Firmament Group
The Firmament Group provides tailored debt and equity capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament seeks both senior and junior debt capital opportunities including unitranche, second lien and mezzanine debt, and also provides equity capital structured as either preferred or common equity. With offices across the United States and in London, United Kingdom, Firmament is focused on turning small business into big business.
About Westbrooke Alternative Asset Management
Established in 2012, Westbrooke Alternative Asset Management is a multi-asset, multi-strategy manager that invests on behalf of its clients, partners, management and shareholders across the spectrum of private equity, listed equity, real-estate and credit, with offices in London, United Kingdom and Johannesburg, South Africa.
CONTACT: Allie Reitman, media@thefirmamentgroup.com
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