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NewStar Backs Wind Point's Logistics Investment Play through its Acquisitions of St. George Logistics and AZ Corporation

Transaction Summary

NewStar arranged $40 million of senior credit facilities to back Wind Point's acquisition of St. George Logistics ("STG") with key operating executives in July 2016.  Based in Kearny, NJ, STG is North America’s largest provider of outsourced ocean container freight station (“CFS”) services and a major provider of air CFS.  STG is also a leading national provider of value-added warehousing services including contract warehousing, inventory management, distribution, and e-commerce fulfillment. 

In October 2016, NewStar arranged $23 million of incremental senior credit facilities to back the follow-on acquisition of STG's leading competitor, AZ Corporation (“AZ”), North America’s second largest provider of Container Freight Station services with a leading share in export-oriented freight traffic. 

Wind Point needed a reliable partner able to act quickly through a short exclusivity window to secure the initial platform acqusition and then fund several planned add-on transaction opportunities. NewStar provided strong financing support to Wind Point's bid and was able to close the financing in five weeks while also providing the flexibility needed for follow-on acquisitions including AZ, which was completed two months later. 

Sponsor

Since its founding in 1984, Wind Point has invested over $3 billion, acquired 90 platform companies, and completed over 160 add-on acquisitions. Wind Point is presently raising its eighth flagship fund which is expected to close later this year at about $750 million. Wind Point’s investment model utilizes executive operating partners to assist in assessing the industry, developing its value creation plan, and ultimately taking an operating role in the target company. Wind Point is also well versed in the logistics space as it presently owns Dicom, a leading provider of expedited transportation and logistics services.

NewStar has completed seven transactions with Wind Point, including three deals in 2016.

Testimonial

“Relationships matter. NewStar understood our buy and build strategy and provided us with the flexibility to execute on it. Given our ten plus year history with NewStar, we knew they were the right partner to lead the STG financing.”                                                                                              

Konrad Salaber, Principal at Wind Point Partners

Industry:Transportation and Logistics
Company Size:$100MM+ in Revenue
Product:Senior Secured Credit Facilities
Purpose:Follow-on Acquisition
NewStar Roles:Sole Lead Arranger
Administrative Agent
Deal Team:Paul Horton
Bill Walsh
Marty Loew
John Szramiak
Case study available
St. George Logistics

a Portfolio Company of

WindPoint Capital Partners

$63,000,000

Senior Secured Credit Facilities

Provided by

NewStar Financial logo

Sole Lead Arranger & Administrative Agent

2016

Case study available
St. George Logistics

a Portfolio Company of

WindPoint Capital Partners

$63,000,000

Senior Secured Credit Facilities

Provided by

NewStar Financial logo

Sole Lead Arranger & Administrative Agent

2016

Industry:Transportation and Logistics
Company Size:$100MM+ in Revenue
Product:Senior Secured Credit Facilities
Purpose:Follow-on Acquisition
NewStar Roles:Sole Lead Arranger
Administrative Agent
Deal Team:Paul Horton
Bill Walsh
Marty Loew
John Szramiak
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