NewStar Financial Serves as Sole Lead Arranger and Administrative Agent in Senior Financing of Sun Well Service, Inc.
NewStar Supports Recapitalization by UIB Capital
Boston, MA, November 14, 2008 NewStar Financial, Inc. (NASDAQ: NEWS), a Boston-based specialized commercial finance company, announces that it has acted as Sole Lead Arranger and Administrative Agent for a new senior financing in support of UIB Capital's ("UIB") recapitalization of Sun Well Service, Inc. ("Sun Well"). UIB, a wholly owned subsidiary of Bahrain-based Unicorn Investment Bank B.S.C., is a Chicago based private equity firm focused on North American middle market buyout opportunities in the Energy, Healthcare, Consumer Products and Technology sectors.
Sun Well Service, Inc., based in Williston, ND, is a leading provider of workover services to the oil and gas industry with rigs operating throughout the Williston Basin of North Dakota and surrounding states. Partnering with UIB will enable Sun Well to continue to grow while maintaining its long-standing reputation for providing unmatched skill and reliability in servicing its impressive customer base."We appreciate the efforts of the NewStar energy team in providing an appropriate financing structure that will fit our needs today and going forward," noted Troy Monthye, a Vice President at UIB. "As we look to meet our future growth objectives, I am confident that we have the right financing partners in place," Monthye added.NewStar Financial served as Sole Lead Arranger and Administrative Agent for the senior credit facilities. "We look forward to working with UIB, Sun Well, and the exceptional management team that the Company has in place," said Ken Pulido, a Director in the Energy Group at NewStar. "Closing this transaction during the recent market dislocation is indicative of NewStar's deep industry knowledge, strong execution capabilities, and commitment to working with quality sponsors and management teams."The deal team for this transaction at NewStar included Ken Pulido, Peter Nightingale, Jon Bassett, and Frank PuccioAbout NewStar Financial, Inc.:
NewStar Financial (NASDAQ:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, San Diego CA, and Charleston SC. For more detailed transaction and contact information please visit www.newstarfin.com.Corporate Inquiries:
(617) 848-2502NewStar Financial