NewStar Provides Chinada Revolver
NewStar Business Credit provided a revolving credit facility to Chinada Industries. Chinada is a portfolio company of DN Partners, a Chicago-based private equity firm that specializes in partnering with lower middle market companies to help achieve strategic objectives. The credit facility will be used to support Chinada’s future growth.
“We were very impressed with the professionalism of the NewStar team and their commitment to our deal. Integrity was a very important quality we wanted in our lender. They ‘closed what they proposed’ and exhibited integrity throughout the process,” stated Maury Bell, Chinada’s co-CEO.
“We are pleased to support Chinada’s financing needs and continue to expand our cross-border financing capabilities in Canada,” added Milton Iskra, national marketing manager for NewStar Business Credit.
Mike Williams, an SVP located in NewStar’s Chicago office, originated the transaction.
Ontario-headquartered Chinada designs, sources and distributes heavy duty brake components for the North American heavy-duty truck and bus aftermarkets.