SOURCE: New Stream Capital

August 19, 2008 12:30 ET

New Stream Capital Provides IP-Based Financing to Snapware

RIDGEFIELD, CT--(Marketwire - August 19, 2008) - New Stream Capital announced today that it has provided financing to Snapware, a leading manufacturer of food and home-storage containers. Secured by Snapware's intellectual property, accounts receivable and inventory, the $8.5 million loan will provide working capital to support the company's continued growth.

"Snapware is a growth company with strong intellectual property, a track-record of creative designs and steady performance in sales and marketing," said Perry Gillies, president of New Stream Capital. "We are proud to support the company's continued expansion as a strong consumer brand with a national retail footprint. Importantly, this deal continues a series of New Stream Capital's IP-based transactions that have included loans to distinctive brands such as Paul Frank Industries."

Established in 1994, Snapware is a fully integrated (from raw materials to finished parts) U.S.-based manufacturer. Snapware products are sold nationwide at leading retailers including Bed Bath & Beyond, Costco, Jo-Ann Stores, Kohl's, Kroger, Linens-N-Things, Lowe's, Petco, PetSmart, Sears, Target and The Container Store.

Snapware specializes in storage and organization solutions for the home and kitchen. The company's storage brands include Snap 'N Stack®, Smart Store®, mods®, GlassLock™, Airtight Canisters and Snap 'N Serve®.

About New Stream Capital

Formed in 2002, New Stream Capital is a private investment firm managing more than $1 billion in assets for institutions in the US, Europe and Asia. The firm focuses primarily on fully secured, collateralized loans to small and middle-market companies. These direct investments offer customized structured finance solutions for growth capital, working capital, acquisition, project finance, and other specialty finance opportunities. New Stream Capital employs 65 people across its offices in Connecticut, New York, Dallas, and Geneva, Switzerland. More information is available at www.newstreamcapital.com

Contact Information

  • Contact:
    Tara A. Bryson
    New Stream Capital
    203.431.0330 x814