NEWSTAR FINANCIAL LEADS $58 MILLION FINANCING FOR THE ACQUISITION OF EN-TOUCH SYSTEMS
NewStar supports financing for Boston Ventures
Boston, MA, November 22, 2006 - NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company, announces that it has provided the financing to support Boston Ventures' acquisition of a majority interest in communications service provider En-Touch Systems.
Founded in 1996 specifically to provide bundled telecommunications services to quality master-planned communities, En-Touch Systems designs, builds and operates networks serving communities in the rapidly-growing suburbs of Houston, Texas. The company delivers a bundle of services that includes local and long distance telephone service, digital cable television, high speed internet access and alarm monitoring services to homes and businesses using fiber based equipment.
NewStar was Lead Arranger and Administrative Agent for the new $58 million senior secured credit facilities which included a 6-year $18 million revolver and a 6-year $40 million term loan.
"As industry specialists, NewStar quickly understood the business opportunity and structured a debt financing solution that fit En-Touch's specific business plan" said Lou Bertocci, a partner at Boston Ventures. "We were impressed by NewStar's responsiveness and look forward to continuing our relationship."
"NewStar is pleased to be supporting En-Touch Systems. The company has established itself as a market leader with a solid growth strategy and an excellent management team," said David Dobies, Co-Head of middle market originations at NewStar. "We are also excited to further expand our relationship with Boston Ventures."
NewStar's deal team for this transaction included David Dobies, Rob Milordi, Scott Trefry and Jeff Augustyn.