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Square 1 Bank Inks $45MM Credit Facility With New State Capital Partners

October 31, 2018, 07:30 AM
Filed Under: Lender Finance

Square 1 Bank, a division of Pacific Western Bank, announced that it has provided a $45 million credit facility to existing client New State Capital Partners, a private equity firm specializing in middle-market investments. Proceeds from the facility will be used to secure new investment opportunities and bridge timing between capital calls.

Located in Larchmont, New York, New State Capital Partners invests in companies across a variety of sectors including business services, industrials and healthcare services. New State's typical investment ranges between $10 million to $50 million of equity in companies with $8 million to $30 million of EBITDA.

"We strive to be a different kind of private equity firm with a more flexible mandate and more nimble approach to investing, focused on being good partners," said David Blechman, founder and principal of New State. "We are proud of the strong group of portfolio companies we have invested in to date and are thankful to our financial services partner Square 1 for helping us achieve our goals."

"The team at New State Capital Partners has seen great traction with their focused investment strategy," added Mike Breaux, vice president in Square 1's Equity Funds Group. "Square 1 is pleased to support New State and looks forward to expanding the relationship into their second fund."

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