Boston, MA, August 5, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided financing to support the acquisition of Naylor Publications, Inc. by a joint venture between Clarity Partners, L.P. and ZelnickMedia Corporation. Naylor Publications, Inc. is the leading provider of business-to-business media and advertising solutions and services to trade and professional associations in the U.S. and Canada.
Founded in 1969, Naylor has contracted with over 400 trade and professional associations to provide printing, advertising sales, and distribution services enabling its association clients to publish over 800 periodicals per year, including magazines, membership directories, newsletters, web sites, and buyer guides.
NewStar was Lead Arranger and Administrative Agent for the $50 million credit facilities comprising a six-year $5 million revolving loan and a six-year $45 million term loan. Other participants in the financing were Goldman Sachs Specialty Lending Holdings, Inc., Great American Life Insurance Company and Great American Insurance Company.
"NewStar is excited to be working with Clarity Partners and ZelnickMedia in this deal, two exceptional media sponsors" said Tim Conway, Chief Executive Officer for NewStar. "This deal required both our structuring expertise and publishing industry knowledge," he added.
NewStar's deal team for the transaction included David Dobies, Rob Milordi, Scott Trefry and Jeff Augustyn.
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