NFS Leasing Will Provide Additional Capital for Starlite Media’s High-Tech Digital Transformation
NEW YORK--(BUSINESS WIRE)--Mar 9, 2020--
NFS Leasing, Inc. and Starlite Media LLC are pleased to announce that they have entered into two additional credit facilities which will fund Starlite Media’s transformation from a place-based static out-of-home and at-store advertising company to one of the most advanced digital place-based OOH and shopper marketing companies in North America. In addition to providing these new credit facilities, NFS Leasing will also assume a board position with Starlite Media.
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NFS Leasing Will Provide Additional Capital for Starlite Media’s High-Tech Digital Transformation (Photo: Business Wire)
These two new facilities follow the funding NFS Leasing provided in late 2018 for Starlite’s initial conversion to digital in the New York market. With these facilities, Starlite’s digital arm (Starlite Digital) will begin operating the most advanced digital units provided by LG-MRI in the following markets – Los Angeles, Chicago, San Francisco, Tampa, San Diego and Sacramento. This first phase of Starlite Digital’s 2020 expansion will begin in April and should be completed by the end of May. A second phase will immediately follow which will expand Starlite Digital into the remaining top-ten markets, including – Boston, Philadelphia, Houston, Phoenix and Washington, DC. In the next 12 months, Starlite Digital will be operating over 1,000 digital units, which are strategically placed at the highest consumer traffic concentration points in these commerce channels (supermarket, pharmacy, big box) in these markets.
“Our digital locations are the hubs of commerce in the top US markets where consumers come to shop for groceries, dine out, workout, drop off their dry cleaning, get medical care, etc. – they are truly the highest concentration points in the community. Our units help communicate the benefits of the businesses located in these shopping centers and at retailers affording each the opportunity to communicate their most important programs, key consumer messages, and community outreach activities.” said Oscar Martinez, EVP of Real Estate for Starlite.
Starlite’s Chief Digital Officer, Dave Kelshaw, stated: “This additional funding, along with several strategic partnerships soon to be announced, offers a unique and exciting growth opportunity for Starlite. This capital will help us unlock our growth, in addition, we will fuel that growth by having direct access to integrated marketing programs, which will utilize our digital and static advertising network delivered at the point of purchase, while offering third-party verified measurement. We have an aggressive and well-developed plan to expand our digital platform throughout 2020 and beyond, which will drive sales growth for retailers, CPG companies and other advertisers, while providing the attribution needed for our programmatic future.”
NFS Leasing is an industry leader in equipment financing, specializing in complex capital funding deals such as the one that was completed with Starlite. “We have been closely following Starlite’s progress since we provided the first equipment lease facility in late 2018. We believe Starlite’s approach to this relatively new and potentially enormous market is best in class, for reasons that include the quality of the units they will be deploying, the strategic partners they are bringing in, and their recent hiring of experts in complementary fields, all of which are needed to excel. For these and other reasons, I’m proud to join Starlite’s board and be part of their vision, execution and success.” stated David DePamphilis, Executive Vice President of NFS Leasing, Inc.
About Starlite Media LLC.
Starlite Media is a premium, proven, point of sale advertising network, located at entrances to grocery stores, as well as in-store, and throughout retail centers. Our national network of traditional media formats has over 6,000 faces in 17 of the top 20 DMAs, and with our expanding digital network, we give brands the ability to influence spend at the final footstep before a purchase is made, using large format digital screens which run bold, dynamic, full-motion content. Starlite is a privately held and has been in business since 2008. Learn how Starlite can become part of your digital strategy! Email [email protected].
About NFS Leasing, Inc.
NFS Leasing is a privately held North American leader in Equipment Finance with more than 18 years’ experience. NFS provides solutions supporting businesses and organizations with challenged credit including early stage, start-up & pre-revenue, financially distressed companies and turn-arounds. NFS uses its own balance sheet capital and provides fast flexible credit decisions. Since 2001, NFS Leasing is proud to have created thousands of jobs and infused almost $1,000,000,000 of capital into credit challenged firms, a segment of the economy that struggles to secure critically needed financing. Contact us today and tell us your story. www.nfsleasing.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200309005710/en/
CONTACT: Starlite Digital
Chief Operating Officer
[email protected] Leasing
Executive Vice President
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA CANADA
INDUSTRY KEYWORD: CONSULTING PROFESSIONAL SERVICES FINANCE
SOURCE: NFS Leasing, Inc.
Copyright Business Wire 2020.
PUB: 03/09/2020 02:33 PM/DISC: 03/09/2020 02:33 PM