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NewStar Business Credit Provides Facility to Chinada Industries

March 05, 2015, 07:35 AM
Filed Under: Manufacturing

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced that it has provided a revolving credit facility to Chinada Industries, Inc.

Headquartered in Ontario, Canada, Chinada designs, sources and distributes heavy duty brake components for the North American heavy-duty truck and bus aftermarkets.  They sell their own line of branded products called SilverbackHD as well as private label products.  Chinada is a portfolio company of DN Partners, a Chicago-based private equity firm that specializes in partnering with lower middle-market companies to help achieve strategic objectives.  The credit facility will be used to support Chinada’s future growth.

"We were very impressed with the professionalism of the NewStar team and their commitment to our deal.  Integrity was a very important quality we wanted in our lender.  They ‘closed what they proposed’ and exhibited integrity throughout the process," stated Maury Bell, Chinada’s Co-CEO.

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

Mike Williams, a Senior Vice President located in NewStar’s Chicago 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 $30 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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