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NewStar Financial Leads Recapitalization For Shelterworkz LLC

NewStar works with Montauk Capital to complete transaction

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Boston, MA, Jan 12, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided recapitalization financing to ShelterWorkz, LLC. ShelterWorkz is a full-service, all weather, steel frame, hybrid shelter company. The Company is owned by Montauk Capital, a private equity firm that invests in middle-market manufacturing, distribution, and service businesses in North America.



NewStar was the sole lender of $8 million in facilities that includes a $4 million revolving loan and $4 million term loan. Merion Investment Partners and Calvert Street Capital Partners provided an additional $8 million of subordinated debt capital.



"From the very start of this deal, our team demonstrated NewStar's ability to act quickly and put our expertise, flexibility, and resources to work on behalf of our partners." said David Dobies, co-head of middle market for NewStar. "The end result was a successful transaction and a satisfied client."



NewStar's deal team for the transaction included Mark Cordes, Paul Holian, Rob Milordi and Michael Chen.



Founded in 1999 in West Haven, Connecticut, ShelterWorkz was established to address the emerging market for all-weather outdoor shelters.



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.



Corporate Inquiries:
NewStar Financial
Scott Poirier
(617) 848-2525


Press-Related Inquiries:
Gaffney Bennett Public Relations
Chris Riley
(860) 690-0856


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