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NewStar Backs Irving Place Capital’s Acquisition of Blue Chip Industrial Distributor

Transaction Summary

Ohio Transmission Corporation is a leading technical distributor of highly engineered motion control, pump and air compressor products.

NewStar supported Irving Place Capital’s effort to acquire the company in a fast-paced auction environment, moving quickly to commit more than $165 million of Senior Secured Credit Facilities to back their bid. With committed financing in hand, Irving Place Capital landed the deal.

To help finance the deal, NewStar underwrote and syndicated $185MM of Senior Secured Credit Facilities as Joint Lead Arranger. NewStar also co-invested in the company alongside Irving Place.

Sponsor

Irving Place Capital is a leading middle market private equity firm that spun out of JPMorgan in 2008. Since its founding in 1997, the firm has raised more than $4 billion of capital and invested in over 60 portfolio companies, primarily in the industrial, packaging and retail & consumer sectors.

NewStar has a strong relationship with the Irving Place Capital team and has completed multiple deals for the firm, including CamelBak, Playcore, Alpha Packaging, Cabi, Chromalox and Bendon Publishing.

Testimonial

"We believe selecting NewStar for this transaction was the right decision. We have known the NewStar principals for many years and they have acted as a Joint Lead on other deals for us. They are reliable, efficient, and we trust they will be there to support future growth initiatives."

Joe El Chami, Vice President - Irving Place Capital

 

Industry:Industrial Supplies
Company Size:$285MM in Revenue, $33MM in EBITDA
Product:$185MM Senior Secured Credit Facilities
Purpose:LBO
NewStar Roles:Joint Lead Arranger, Joint Bookrunner, Co-Syndication Agent
Deal Team:Eric Herr, Andres Alev, Kevin Mulcahy, John Szramiak, Tyler Kramp
Case study available
Ohio Transmission Corporation

a Portfolio Company of

Irving Place Capital

$185,000,000

Senior Secured Credit Facilities

Provided by

NewStar Financial logo

Joint Lead Arranger & Joint Book Runner

2015

Case study available
Ohio Transmission Corporation

a Portfolio Company of

Irving Place Capital

$185,000,000

Senior Secured Credit Facilities

Provided by

NewStar Financial logo

Joint Lead Arranger & Joint Book Runner

2015

Industry:Industrial Supplies
Company Size:$285MM in Revenue, $33MM in EBITDA
Product:$185MM Senior Secured Credit Facilities
Purpose:LBO
NewStar Roles:Joint Lead Arranger, Joint Bookrunner, Co-Syndication Agent
Deal Team:Eric Herr, Andres Alev, Kevin Mulcahy, John Szramiak, Tyler Kramp
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