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NewStar Business Credit Provides $20MM Credit Facility to Mad Catz

August 19, 2015, 07:28 AM
Filed Under: Technology

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $20 million revolving credit facility to Mad Catz, Inc.(MCI). Headquartered in San Diego, California, MCI designs and markets a wide range of video game accessories for multiple gaming platforms.  The credit facility will be used to refinance existing debt and support the company’s ongoing working capital needs.

“We are excited to partner with NewStar as we enter a high-growth period for our business.  The team at NewStar took the time to understand our strategy and operations, analyze expected growth opportunities, and proposed a financial package structured to facilitate anticipated growth.  We look forward to working with NewStar as our business partner,” stated Mad Catz President and CEO, Darren Richardson.

“NewStar is pleased to provide a flexible financing package structured to meet MCI’s ongoing working capital needs, while also supporting the launch of an exciting new phase of growth for the company,” added NewStar EVP and National Marketing Manager, Milton Iskra.

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

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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