Boston, MA, March 16, 2006 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided financing to support the acquisition of Yachting Promotions, Inc. ("YPI") by publisher Active Interest Media ("AIM").
Started in 1976, YPI is the exclusive producer of the well-known Ft. Lauderdale In-Water Boat Show, the largest in-water boat show in the world. YPI also produces the Yacht & Brokerage Show in Miami, the Palm Beach Boat Show as well as several other boat shows and events. Publishing veteran Efrem "Skip" Zimbalist III and Wind Point Partners founded AIM in 2003 to acquire enthusiast magazines, related books and consumer shows. AIM's titles include several category-leading magazines such as Log Home Living, Log Home Design, Better Nutrition, Vegetarian Times, Southwest Art and Black Belt.
"YPI is an exciting acquisition that gives AIM's team an opportunity to apply its experience to an exceptional platform in the marine enthusiast space," said Skip Zimbalist, who added that "NewStar's leadership in the financing and commitment to the transaction were extremely valuable during what proved to be a dynamic transaction."
NewStar was Joint Lead Arranger and Administrative Agent for the new credit facilities which included a six-year revolving loan, a six-year term loan and a seven-year acquisition facility. CapitalSource served as Joint Lead Arranger and Syndication Agent.
NewStar's deal team for the transaction included David Dobies, Rob Milordi, Jeff Greene and Michael Purcell.
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