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NewStar Business Credit Provides $8MM Credit Facility to Roscom, Inc.

February 09, 2016, 08:01 AM
Filed Under: Manufacturing

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., has provided senior secured credit facilities totaling $8 million to Roscom, Inc. (“Roscom” or the “Company”).  Founded in 1972 and headquartered in Croydon, PA, Roscom, is a custom compounder of high quality flexible and rigid PVC pellets. Their products are used in a wide variety of industries including non-metallic conduit, construction, plumbing, various tubing, as well as aeronautical, automotive, and marine applications. The credit facilities will be used to repay certain existing obligations and support the Company’s working capital needs in connection with planned growth.

Roscom’s CFO, Nicholas M. Lynch, commented on the transaction: “The commitment and diligent work performed by the NewStar team was extraordinary.  They were able to complete the transaction within a very stringent time frame.  The joint effort between Roscom and NewStar is expected to be a cornerstone to a long, prosperous relationship.”

“We are thrilled to be a partner with this dynamic management team and look forward to helping Roscom grow for many years to come,” commented Michael Haddad, President of NewStar Business Credit

The transaction was originated by Ken Frank, a Senior Vice President located in NewStar’s Philadelphia office.

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, recapitalizations and refinancings, as well as, to support internal growth strategies.

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