Stellus Capital Management, LLC Provides First Lien Financing in Support of Mosaic Capital Partners, LLC’s ESOP Acquisition of NuSourceMar 09, 2021
Houston – TX, March 9, 2021 – Stellus Capital Management, LLC (“Stellus”) announced today that its affiliates provided a first lien term loan and structured equity co-investment in support of Mosaic Capital Partners, LLC’s (“Mosaic”) investment in NuSource Financial, LLC (“NuSource” or the “Company”).
NuSource, founded in 1999 and headquartered in Eden Prairie, Minnesota, services over 600 unique financial institution customers for their ITM, ATM, and security equipment needs. NuSource is a Diamond Club channel partner with Hyosung, the fastest growing ATM manufacturer in the U.S., and has operations in 13 states across the country.
Ian Mohler, Partner at Mosaic, said, “We are excited to partner with the Stellus team as NuSource continues to transform the branch banking market. We look forward to the ongoing relationship as we grow the NuSource platform.”
Doug Bollermann, Managing Director for Stellus, added, “We are excited to partner with Mosaic and the NuSource management team. We believe NuSource’s outstanding business reputation, growth model, and partnership with Hyosung will position the Company as a strong platform for continued growth within the financial technology industry.”
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