Clarus Capital completed a new $25 million lease facility for a sponsor-backed precision components manufacturer. The financing proceeds will support the installation of new production equipment across multiple facilities.
Clarus Capital launched as a new commercial finance company focused on delivering capital solutions to finance tangible assets for leveraged middle-market companies. The new company was founded by former executives of NewStar Financial.
John Frishkopf will retire from NewStar on September 30, 2016. Frishkopf was a founding member of the firm and has served as treasurer and head of the Asset Management group since NewStar’s inception in 2004.
Late last year, NewStar Financial announced it intended to add asset-based lending to its product offerings by acquiring CORE Business Credit, causing something of a positive stir in the commercial finance community. ABF Journal asked NewStar’s chairman and CEO Tim Conway and CORE’s Michael Haddad to discuss the rationale behind the acquisition.