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NewStar Business Credit Provides $13.5MM Facility to Quantum Management

September 02, 2014, 07:42 AM
Filed Under: Staffing Services

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $13.5 million revolving credit facility to Quantum Management Services Group (“Quantum”).  Established in 1968, Quantum is one of the largest Canadian-owned recruitment and staffing firms in Canada.   The company is headquartered in Montreal, Quebec and serves its target markets through twelve offices located throughout North America.  The credit facility will be used for working capital and to support future growth.

"The NewStar team quickly gained an understanding of the financing challenges inherent in our business model and Canadian operating environment. This resulted in their offer of a creative package that responds to our needs. Their flexible approach to the typical Asset Based Lending model will enable us to sustain and grow our business.  With NewStar as our financing partner, we are excited to open the next chapter in our forty-six year history." Marc Welikovitch - Vice President, Quantum

“We are pleased to support Quantum’s financing needs and demonstrate our cross border financing capabilities in Canada”, stated Milton Iskra, National Marketing Manager for NewStar Business Credit.

John Rossi, a Senior Vice President located in NewStar’s Boston 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.

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