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 $10 to $100 million in revenue and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in their acquisition or recapitalization of lower middle market companies. Since starting three years ago, O2 Sponsor Finance has closed over $750 million in commitments across 35 different platforms. For more information, please visit www.O2sponsorfinance.com.
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 $5.6 billion in assets, $4.8 billion in deposits and $4.0 billion in loans.
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.
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