July 30, 2018 – Clear Capital Advisors served as exclusive financial advisor to New Wave Entertainment (“New Wave” or the “Company”) in connection with its sale of a second tranche of shares to an ESOP (Employee Stock Ownership Plan). This is a follow-on transaction to the original 30% sale of stock to the ESOP which was completed in December 2016. This most recent transaction transferred controlling ownership of the Company to its employees.
Clear Capital advised in the funding and structuring of this leveraged ESOP transaction which was financed with senior debt.
Greg Woertz, New Wave’s CFO, commented “New Wave has flourished under employee ownership. This transaction will solidify our edge in being able to retrain and attract the finest talent in entertainment marketing. Clear Capital Advisors has continued to deliver excellent advice and navigate the technical aspects of the ESOP structure to allow us to meet our goals in expanding ownership to our employees.”
New Wave Entertainment is a premier digital media and entertainment marketing services company. Throughout its 30-year history, the Company has garnered a reputation for being a reliable and high-quality outsourced provider of finishing, post-production editing and marketing services for major studios such as Fox, Sony, and Netflix. New Wave’s Finishing segment provides services for the finishing and distribution of advertisements for motion pictures (“spots”) to film studios. New Wave is the largest independent provider of spot finishing in the entertainment industry. Its Project XAV division delivers bold campaigns specializing in motion picture, television, and video game trailers. New Wave’s third segment, hi5.agency is a full-service creative agency that develops and delivers creative campaigns for rich media, social media and other online/mobile marketing. Founded in 1989 and based in Burbank, CA.
“This transaction which boosted the ownership of the ESOP resulted from the tremendous results of the Company under employee ownership,” said Bruce Pompan, Managing Partner with Clear Capital Advisors. “This begins a new and exciting chapter for New Wave Entertainment.”
About Clear Capital Advisors Clear Capital Advisors is a premier independent investment advisory firm focused on providing mergers and acquisitions advisory and capital raising services to select technology, digital media, technology enabled services and other business services companies. Securities offered through Fallbrook Capital Securities Corp., Member FINRA – SIPC. For more information, visit www.ClearCapitalAdvisors.com.