NewStar backs Bodybuilding.com with $15M finance package

[240 is Back]

Specialty finance firm NewStar Financial said it has packaged $15 million in debt financing to support private equity investor Milestone Partners' acquisition of online retailer Bodybuilding.com.

The deal's price was not disclosed.

 
Bodybuilding.com booked $46.9 million in sales last year, selling more than 5,500 different products to an online membership of over 40,000 people. The company was founded in 1999 and is based in Boise, Idaho.

NewStar, based in Boston, said the financing agreement will provide the newly acquired company with a $2.5 million revolving loan and another $12.5 million in term-loan commitments. The finance firm said it was the sole lender involved.

Milestone is a private equity firm based in St. Davids, Pa. The firm was founded in 1995 and raised roughly $120 million last year via its second investment fund, Milestone Partners II L.P.

Founded in 2004, NewStar has closed more than 100 debt and equity investments totaling in excess of $1 billion. As of January, NewStar employed about 50 people in Boston and another 20 in Connecticut, California and South Carolina. The firm expects to have around 90 employees by the year's end.

http://www.getanabolics.com/media_newsfeeds.php

[ribonucleic]

Bodybuilding.com booked $46.9 million in sales last year, selling more than 5,500 different products

Terrifyingly potent muscle-building dynamos, each and every one. 

[240 is Back]

Terrifyingly potent muscle-building dynamos, each and every one. 

not only that, but their moderators are friendly enough to locate your sales data for you.

[Palpatine Q]

Terrifyingly potent muscle-building dynamos, each and every one. 

Apparently they are doing something right.

[ribonucleic]

Apparently they are doing something right.

Why do you say that? Is CNN reporting dramatic gains in the American population's muscular development? 

[emn1964]

not only that, but their moderators are friendly enough to locate your sales data for you.

LOL--I was wondering how long it was going to take you to jab chick.  I wonder hwo much of that money Chick will get, him being a player and all.

[Palpatine Q]

Why do you say that? Is CNN reporting dramatic gains in the American population's muscular development? 

I meant business-wise. Those of us with brains knows 80% of the crap they sell is just that, crap. But they are definitely moving some units. I think it has a lot to do with signing Bob Chic.

[240 is Back]

Haven't you been served yet? 

i donated my net worth to CHOC. 

[Chick]

i donated my net worth to CHOC. 

Thanks for the $100.

[ribonucleic]

Thanks for the $100.

Sorry, man - but Chick wins that round.

Brutal owning!

[ribonucleic]

don't you have a girlfriend to be choking right about now?

lol

But I sense some riposte involving the word "chicken" arriving any minute.