NewStar Financial Serves as Lead Arranger and Administrative Agent on a $42 million Financing for Winchester Electronics
Boston, MA, July 17, 2007 NewStar Financial, Inc., a Boston-based commercial finance company, announces the closing of a $42 million senior financing to support Winchester Electronics' acquisition of Kings Electronics, a provider of RF coaxial connectors. Winchester, a Connecticut-based manufacturer of electronic connectors, also recently acquired Advanced Interconnect, a manufacturer of fiber optic and copper-based cable assemblies, based in Franklin, MA.NewStar served as Lead Arranger and Administrative Agent for the $42 million senior credit facilities, which included a $5 million revolving credit, a $5 million Term Loan A, and a $32 million Term Loan B. HighPoint Capital, also located in Boston, participated as a lender in the senior credit facilities.
"NewStar, Audax and management structured a financing with the flexibility to support the simultaneous integrations of Advanced and Kings which resulted in a transaction that benefited every party involved," said Tim Shoyer, a Managing Director at NewStar.The deal team for this transaction from NewStar included Tim Shoyer, Mark du Four, Levi Richardson, Dave Belanger, and Hank Spring.
About NewStar Financial, Inc.:
NewStar Financial is a specialized commercial finance company focused exclusively on meeting the complex financing needs of customers in the middle market through our corporate, commercial real estate, and structured products groups. Our senior banking teams call directly on customers to provide advice and finance a range of strategic transactions that may require some combination of senior secured, second lien and mezzanine financing. NewStar typically works with customers with financing needs of up to $150 million and cash flow as low as $5 million. We target 'hold' positions of up to $35 million, but may also underwrite or arrange transactions up to $100 million for syndications to other lenders. We are headquartered in Boston MA, with regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. In December of 2006, NewStar completed an Initial Public Offering. The Company's shares trade on the NASDAQ under the ticker symbol, NEWS. Please visit our website at www.newstarfin.com
for more detailed transaction and contact information.
Robert K. Brown
Gaffney Bennett Public Relations