SAN FRANCISCO, CA--(Marketwired - Oct 16, 2014) - Seacoast Capital ("Seacoast") announced today that it has completed a growth recapitalization of Frank Entertainment Group, LLC ("Frank" or the "Company") in concert with Elm Park Capital Management and Triangle Capital Corporation (NYSE: TCAP). Based in Jupiter, Florida, Frank operates pure play movie theatres, combination movie theatre/family entertainment complexes, and pure play family entertainment complexes in 5 states on the East coast under the Frank Theatres, CineBowl & Grille, Revolutions and Superplay USA marquees. The transaction will allow Frank to retire certain of its existing indebtedness and capitalize the Company for growth as it expands its CineBowl & Grille concept in the coming years. Tim Fay, a Partner with Seacoast, commented, "Frank has been an innovator in the movie theatre business since the early 1920s, and has done exceptionally well in predicting and adapting to trends in the industry over its 90+ year history. In recent years we have witnessed the beginning of a shift in the theatre business from the traditional stadium seating multiplex model to a more premium, 'total entertainment' model, and we are enthusiastic in backing Bruce Frank to grow what we believe is one of the industry's leading total entertainment concepts."
