NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced that it has provided a $12 million revolving credit facility to Soft Air USA, Inc. (“Soft Air”). Founded in 1987 as a marketing company for entertainment and sports related products, Soft Air has evolved into one of the top suppliers in the extreme sporting goods category. As part of Cybergun Group World Wide, the company markets a wide range of replica firearms known as airsoft guns, which are a special type of non-lethal air guns used mainly by extreme sports enthusiasts for combat simulation games, as well as police and military for training purposes. The company offers recreational airsoft and related sporting goods products under license agreements with recognized brand names in the firearms industry. The secured credit facility will be used to support the company’s ongoing working capital needs.
"We were looking for a lender who believed in our team and trusted in our ability to wisely run our business. We are pleased to find in NewStar, a pragmatic business partner who we can count on as we work together to drive improvements across our business units. I have been impressed with the NewStar team and look forward to a productive and valued relationship." Joe Huston - CEO, Soft Air USA, Inc.
“We were happy to work with Soft Air’s management team to arrange a financing that will help them achieve their growth goals,” stated Milton Iskra, National Marketing Manager for NewStar Business Credit.
Tanner Pump, a Vice President located in NewStar’s Dallas office, 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, recapitalization and refinancing, as well as, to support internal growth strategies.