Daily News: October 16, 2017

Sterling Provides $25MM Facility to National Entertainment Network

Sterling National Bank provided a $25 million senior secured credit facility to National Entertainment Network (NEN).

This deal was sponsored by Monitor Clipper Partners, a Boston-based private equity group focused on helping founders of profitable, middle-market companies further develop and maximize the value of their businesses.

Founded in 1988, NEN is an amusement vending service provider who partners with retailers, grocery stores and restaurants to provide vending services to its partners’/clients’ and their retail customers.

Bloomfield, CO-based NEN provides vending services, such as skill cranes, bulk vending machines featuring candy and toys, kiddie rides and video games. NEN serves approximately 1,300 clients with more than 50,000 machines in service at approximately 14,000 locations nationwide.