Daily News: October 23, 2013

NewStar Provides $12MM to Bachmann Industries

NewStar Business Credit, a wholly owned subsidiary of NewStar Financial, Inc. announced it provided a senior secured credit facility totaling $12 million to Bachmann Industries.

“We are pleased to partner with a financial institution as capable and professional as NewStar Business Credit. Their patience, thoroughness and professionalism were all appreciated by a company that is celebrating its 180th year in existence, with many more to come!” said Bachmann’s Ed Winter, SVP Finance.

“We were very pleased to support Bachmann’s financing needs. Bachmann’s model trains and railroading products are widely recognized and enjoyed by casual hobbyists and model railroading enthusiasts. The company is also admired for its long successful history and rich heritage,” said NewStar EVP, Milton Iskra. NewStar’s Nina Fairchild, an SVP located in Philadelphia, originated the transaction.

NewStar Business Credit provides asset-based and senior secured “stretch” loans nationally to middle-market companies with credit requirements between $5 million and $25 million. Deal structures are flexible and tailored to meet each client’s unique needs. Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as to support internal growth strategies.

Located in Philadelphia, Bachmann, one of the largest distributor of model trains in the U.S., is an affiliated company of Hong Kong-based Kadar Holdings.