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NewStar Business Credit Provides $6.5MM to World Class Technology Corp.

September 29, 2015, 08:01 AM
Filed Under: Medical

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $6.5 million secured credit facility to World Class Technology Corp. (“WCT” or the “Company”). Headquartered in McMinnville, Oregon, WCT designs, manufactures and distributes a full line of proprietary orthodontic products sold under the Ortho Classic brand name. 

WCT is a portfolio company of Caltius Equity Partners, a private equity firm based in Los Angeles, CA. The credit facility will be used to support the Company’s working capital needs.

“We are pleased to provide a flexible financing solution for World Class Technology as we expand our presence in the Pacific Northwest marketplace,” stated NewStar EVP and National Marketing Manager, Milton Iskra.

The transaction was originated by Lisa Adams, a Senior Vice President located in NewStar’s San Francisco 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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