Boston, MA, December 15, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based
commercial finance company, announces that it has provided financing to support the acquisition
of U.S. Block Windows, Inc. ("U.S. Block Windows") by Hampshire Equity Partners.
U.S. Block Windows is a leading national specialty manufacturer of customized pre-framed acrylic and glass block windows and interior shutters. With fourteen patents issued, and more pending, U.S. Block Windows has led the block window market since the company's inception in 1996. The company has a national presence with manufacturing plants in Florida and Arizona and a national sales and distribution network.
NewStar was sole lender for the $11.5 million credit facilities that included a five-year $1.5 million revolving loan and a five-year $10 million term loan.
"This transaction is another example of the NewStar approach - understanding and meeting the needs of our clients," said Tim Conway, chief executive officer of NewStar. "With the successful completion of this acquisition, we look forward to working with Hampshire Equity Partners again in the future."
NewStar's deal team for the transaction included Pat McAuliffe, Paul Feloney, Scott Trefry and Dipen Patel.
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