O2 Sponsor Finance Provides Senior Secured Credit Facilities to Support Fort Point Capital in Its Acquisition of NewBold Corporation
Rhea-AI Summary
O2 Sponsor Finance, a division of Old Second National Bank, has provided senior secured credit facilities to support Fort Point Capital's acquisition of NewBold . Founded in 1994 and based in Greenville, SC, NewBold is a leading managed technology services provider specializing in quick service restaurant, retail, warehousing, and healthcare industries.
NewBold's service portfolio includes support for point-of-sale (POS), automatic identification and data capture (AIDC), and payment device solutions. Their services encompass on-site response, depot repair, technology procurement and deployment, configuration and integration, help-desk support, and payment device encryption services.
Positive
- Acquisition expands managed technology services portfolio
- Company shows impressive growth in mission-critical POS services
- Diverse multi-location customer base across multiple industries
- Strategic expansion into payment device encryption services
Negative
- Acquisition may increase debt load due to credit facilities
- Integration risks with new ownership structure
News Market Reaction 1 Alert
On the day this news was published, OSBC gained 0.17%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHICAGO, IL / ACCESS Newswire / February 27, 2025 / O2 Sponsor Finance, a division of Old Second National Bank, capped off a busy 2024 with new financing activity. O2 Sponsor Finance provided senior secured credit facilities to support Fort Point Capital in its acquisition of NewBold Corporation ("NewBold").
Founded in 1994 and headquartered in Greenville, SC, NewBold is a leading provider of managed technology services to the quick service restaurant, retail, warehousing, and healthcare industries. NewBold supports point-of-sale ("POS"), automatic identification and data capture ("AIDC"), and payment device product lines, with services including on-site service response, depot repair services, technology procurement and deployment, configuration and integration, help-desk support, and payment device encryption and injection services. To learn more, please visit www.newboldcorp.com.
"We have been excited to partner once again with Fort Point Capital in their acquisition of NewBold. The company has generated impressive growth, offering holistic deployment, maintenance, and repair services for mission-critical POS and AIDC technology hardware to a diverse range of multi-location customers", said Thom Karle, Senior Vice President, O2 Sponsor Finance.
About Fort Point Capital: Fort Point Capital, a Boston-based private equity firm, brings a management-led, growth-oriented approach to private equity investing, targeting fragmented sectors of the business services industry. Founded in Boston in 2011, Fort Point partners with founders and management teams to accelerate growth by providing resources to expand teams and infrastructure, improve service offerings, access new markets, and support follow-on acquisitions. Fort Point fulfills its commitment to management, employees and shareholders by employing a repeatable process to drive durable value, showcased in over 50 acquisitions since its inception. Fort Point is currently investing from FPC Small Cap Fund III. To learn more, please visit www.fortpointcapital.com.
About O2 Sponsor Finance: O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically
About Old Second Bancorp, Inc.: Old Second Bancorp, Inc., headquartered in Aurora, Illinois, is the bank holding company for Old Second National Bank, which celebrated 150 years of operation in 2021. Old Second's common stock trades on The NASDAQ Stock Market under the symbol "OSBC". More information about Old Second is available by visiting the "Investor Relations" section of its website www.oldsecond.com.
As of December 31, 2024 Old Second has approximately
Old Second National Bank, Member FDIC.
Contact:
Bradley S. Adams EVP, Chief Operating Officer and Chief Financial Officer (630) 906-5484
SOURCE: Old Second Bancorp Inc.
View the original press release on ACCESS Newswire
FAQ
What are the key services offered by NewBold after the Fort Point Capital acquisition?
When was NewBold founded and where is it headquartered?
What type of financing did O2 Sponsor Finance provide for the NewBold acquisition?
Which industries does NewBold primarily serve?
