Boston, MA, March 22, 2006 - NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company acted as a Joint Lead Arranger with Webster Bank on a $26 million financing for Wicks Business Information, LLC ("WBI" or the "Company"). The financing represents an increase to an existing facility and supports the acquisition of Executive Enterprise Institute, LLC (EEI), a leader in compliance and best practices live training.
Executive Enterprise Institute will become a part of the Wicks Business Information portfolio, which includes Treasury & Risk Management magazine, publisher of a monthly finance magazine and bi-monthly e-newsletter and producer of two annual conferences for chief financial officers, corporate treasurers and controllers; Inside Counsel, formerly known as Corporate Legal Times, which serves corporate counsel with a monthly magazine and various other information products, including the annual SuperConference; Credit Union Times, a weekly news publication serving the thriving credit union industry; and the Investment Advisor Group, publishers of Investment Advisor magazine and numerous e-newsletters and producer of the Investment Advisor Wealth Advisor Summit.
WBI was formed in 1999 by Douglas Manoni and The Wicks Group of Companies, a New York-based private equity firm focused on selected segments of the communications, information and media industries.
"The resources, flexibility and expertise of NewStar continue to help companies grow and structure themselves to be more profitable," said Tim Conway, CEO of NewStar. "We had a great team working with a great client to achieve the results everyone needed in a favorable timeframe."
NewStar's deal team for the transaction included David Dobies, Rob Milordi, Andre Paquette and Neha Talwar.
About NewStar Financial, Inc.:
NewStar Financial, Inc. was formed in June 2004 by a group of senior banking and capital markets executives from leading financial institutions, including FleetBoston Financial, Citigroup and JP Morgan Chase, and leading institutional investors including Capital Z Partners, JP Morgan Corsair Capital Partners and Och-Ziff Capital Management Group. NewStar is focused exclusively on providing customized financing solutions to mid-sized borrowers in three lending groups: Middle Market Corporate, Commercial Real Estate, and Structured Products. For more information, please contact the appropriate individual below.
Gaffney Bennett Public Relations