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Sterling National Bank Provides $25MM to National Entertainment Network

October 16, 2017, 07:24 AM
Filed Under: Entertainment

Sterling National Bank provided senior secured credit facilities totaling $25,000,000 to National Entertainment Network, LLC.

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

Headquartered in Bloomfield, CO, the company provides vending services, such as skill cranes, bulk vending machines featuring candy and toys, kiddie rides and video games. NEN serves approximately 1300 clients with over 50,000 machines in service at approximately 14,000 locations nationwide. 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.

The transaction was sourced by John Rossi, a Senior Vice President located in Sterling’s Boston office.

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