Locke Lord Team Counsels NewStar Financial in $140 Million Sale of Equipment Finance Business and Related Assets to Radius Bank

A Locke Lord team acted as legal counsel for NewStar Financial Inc. in the sale of its equipment finance business and related assets to Radius Bank for approximately $140 million, which closed on Dec. 1, 2016. According to NewStar’s press release the sale is a demonstration of NewStar’s continued “transformation from a bank-styled, diversified commercial finance company into a more specialized middle market direct lender with a focus on managing assets for institutional investors.” The Locke Lord team consisted of Michael Newquist and Eugene McDermott (both of Providence) and George Ticknor, Megan Foscaldi and Carla Hines (all of Boston).
Posted December 7, 2016