AUSTIN, Texas, Sept. 17, 2014 (GLOBE NEWSWIRE) -- Westlake Securities, LLC is pleased to announce the completion of a debt and equity financing for Austin-based Greenstream International ("GSI").
Texas-based Greenstream International recycles, harvests and resells mobile technology equipment and components, and offers material life cycle management services. It has offices in Austin, Dallas, Louisville (KY) and Hong Kong.
Capstar Partners, an Austin based private equity firm (www.capstarpartners.com) acquired a minority stake in the business and Cadence Bank (www.cadencebank.com) provided a $10mm line of credit as part of the transaction. Terms of the equity financing will be not be disclosed.
Greenstream International Chief Executive Jaime Shaw said "We at GSI are very excited about our future. Westlake's ability to bring Cadence Bank to the table was pivotal. Cadence is the first bank I've dealt with that actually understands our business. It's always a great feeling when you know you're being supported by your partners. Capstar is also the perfect partner for GSI. Our respect for each other extends outside of both businesses and we look forward to the journey ahead."
Cory Allen, Partner and Managing Director at Westlake Securities, said "GSI was ready to expand its business and needed outside capital to fuel this growth. The combination of a private equity and commercial banking partners will allow GSI to go to the next level."
While Westlake's clients are nationwide, GSI represents the second transaction in the first half of the year that Westlake has closed for Austin-based companies.
CONTACT: Cory Allen Managing Director Westlake Securities Tel: (512) 314-0711
Source:Westlake Securities, LLC