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NewStar Business Credit Provides $31.5MM Credit Facility to Amerijet International, Inc.

July 21, 2015, 08:05 AM
Filed Under: Transportation

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced today that it has provided senior credit facilities totaling $31.5 million to Amerijet International, Inc. Founded in 1974, Amerijet is a full service, multi-modal transportation and logistics provider, offering scheduled cargo transport via land, sea and air between 30 major U.S. cities and 600 destinations worldwide.  The company owns a fleet of cargo jets and operates a world-wide, air and ground transportation network from its hub in Miami, FL.  Amerijet is a portfolio company of H.I.G. Capital, a private equity investment firm. 

The financing was comprised of revolving and term loan facilities used to refinance certain existing debt and support the company’s continued growth and working capital needs.

"I am incredibly impressed with the team of people at NewStar and the way they operate.  The whole process with NewStar has been an absolute pleasure and such a positive experience for us.  NewStar's approach was pragmatic; they understood our needs and they were responsive.  They were also very sensitive to our tight time frame," stated Amerijet CFO, John R. Nash.

“We have known the Amerijet management team for more than ten years and have always been impressed by their ability and performance.  At NewStar, we are very pleased to have the opportunity to demonstrate our commitment in support of the company’s financial and business objectives,” stated NewStar President, Michael Haddad.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $35 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, recapitalizations and refinancings, as well as, to support internal growth strategies.

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