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Company Description

Contact Info

500 Boylston Street

Suite 1250

Boston, MA 02116

United States

Phone: 617-848-2500

Fax: 617-848-4300

NewStar Financial, Inc. operates as an internally-managed, commercial finance company with specialized lending platforms focused on meeting the financing needs of companies and private investors in the middle market. The company and its wholly owned investment management subsidiary, NewStar Capital LLC, are registered investment advisers and provide asset management services to institutional investors. The company manages various private credit funds that co-invest in loan origination through its leveraged finance lending platform. Through NewStar Capital, the company also manages a series of funds structured as CLOs that invest primarily in broadly syndicated loans, as well as other sponsored funds and managed accounts that invest across various asset classes, including broadly syndicated loans, high yield bonds and distressed credits. Through its specialized lending platforms, the company provides a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as purchases of equipment and other capital assets. The company targets its marketing and origination efforts at private equity firms, mid-sized companies, corporate executives, banks, real estate investors and various other referral sources and financial intermediaries to develop new customer relationships and source lending opportunities. Lending Groups The company’s lending activities are organized into four specialized lending groups, including Leveraged Finance, Business Credit, Real Estate, and Equipment Finance. Leveraged Finance Through its Leveraged Finance group, the company provides senior, secured cash flow loans and, to a lesser extent, first out, second lien and unitranche loans, to middle market companies. These companies are typically backed by established private equity groups that manage large investment funds and have proven investment track records. The proceeds of these loans are used primarily for acquisitions, recapitalizations and refinancing or other general corporate purposes. The Leveraged Finance group also provides senior secured loans to larger middle market companies with greater financing needs by participating in larger credit facilities with other lenders as a member of a syndicate. The company offers a range of senior debt financing options, including revolving credit facilities, term loans and other debt products secured by various business assets. Loans are typically structured to mature in five to six years and require monthly or quarterly interest payments at variable rates based on a spread to LIBOR or the prime rate, many with interest rate floors. The company targets mid-sized companies operating in a range of industries and market segments, including healthcare, manufacturing and industrial, financial services, energy/chemical services, printing/publishing, consumer, retail and restaurants, and business and technology services. Business Credit Through its Business Credit lending group, the company provides working capital financing to asset-intensive companies that typically borrow against the value of their inventory and accounts receivable. These asset-based loans might also be used to support other business purposes, including acquisitions and recapitalizations, as well as growth strategies. The company generally provides revolving credit facilities in amounts linked to borrowers’ expected working capital needs and might also provide term loans backed by longer term assets and other excess collateral. Business Credit develops lending opportunities and sources transactions through a network of long-standing relationships with corporate executives, private equity firms, intermediaries, turnaround consultants, banks and other referral sources. With its main Business Credit office in Dallas and marketing offices in Boston, Chicago, Portland and San Francisco, the company has a national asset-based lending origination platform capable of originating significant loan volume. Business Credit targets mid-sized companies in various asset-intensive industries for its asset-based loans, including bus

 

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Valuation N5F Industry Range
Price/Earnings 25.8x
Price/Sales 6.9x
Price/Book 0.7x
Price/Cash Flow 26.0x
TEV/Sales NM Not Meaningful
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