Chartwell is pleased to announce New Wave Entertainment has successfully completed a refinancing of its existing senior debt credit facility. The new facility, led by Star Mountain Capital and EastWest Bank, provides New Wave (the “Company”) with significant capacity and operating flexibility as it evolves in conjunction with the entertainment industry’s shift towards digital consumption.
In addition, Star Mountain and a consortium of private investors have committed incremental capital to support New Wave Entertainment’s growth initiatives. Funds will be utilized for the following purposes:
- Produce new comedy and pop culture content stewarded by New Wave Entertainment’s sister firm, The Nacelle Company, LLC (“Nacelle”). Nacelle currently maintains the largest independent comedy content library in the industry and a growing library of documentary series, producing for A-list names such as Zac Efron, Kevin Hart, Jim Gaffigan, and more. Alongside comedy and documentary content, Nacelle will continue to curate and license specials, shows, IP, books, and toys as a clearing house for all things pop-culture
- Support the Company’s buildout of industry-leading software, hardware, cybersecurity systems, and engineering talent required to provide finishing and editing services for the world’s premier theatrical and streaming content producers. The Company’s state-of-the-art facilities have serviced blockbuster productions for over 25 years and are constantly evolving to meet new industry standards
Concurrent with the refinancing, New Wave Entertainment and Nacelle have effectuated a restructuring of their respective ownership structures, ensuring long-term alignment of the two businesses.
Chartwell acted as the exclusive financial advisor to New Wave Entertainment, providing counsel to the senior management team on all facets of the transaction.
About New Wave Entertainment
New Wave Entertainment is a leading independent creative entertainment marketer, digital editor, and comedy content curator in the entertainment industry. The Company provides finishing services, trailers, TV spots, digital distribution, and more to a diverse end market of clients including major studios and streaming platforms. New Wave Entertainment is a 100% ESOP-owned business and prides itself on generating value for its employee ownership base.