NewStar Financial announced it hired banker Wes Frangul as a managing director in its Chicago office. Frangul will join Jason Wendorf and Eric Barton to broaden NewStar's regional marketing activities with responsibility for generating new financing opportunities with mid-sized companies, private equity firms and other investors in the middle market.

Frangul joins NewStar from Arvon Advisors, a middle-market focused M&A advisory firm. Prior to that, he was a managing director at BMO Capital Markets where he was responsible for transaction origination across multiple product lines including senior debt, mezzanine and high-yield debt, public and private equity, mergers & acquisitions and derivatives. He has over 25 years of financial advisory experience and has completed more than $20 billion of transaction volume across various industries.

"I am very excited to join NewStar's Chicago office and look forward to working with the NewStar team to continue building on its established direct origination franchise as we broaden our coverage of private equity firms and intermediaries in the Midwest and Western regions," said Frangul.

"I am thrilled to have Wes join the team and we are excited about enhancing our coverage of this region," said Pat McAuliffe, co-head of Middle Market Origination for NewStar. "Wes, Eric and Jason give us a strong presence in the Chicago market to cover mid-sized companies and financial sponsors."

"We are pleased to add Wes to our team in Chicago to enhance our coverage of key markets through the Midwest and West," said Tim Conway, NewStar's chief executive officer. "He brings valuable credit and transaction execution experience to the team and will help reinforce our position in the marketplace as a smart, reliable partner at a time when we are increasing our activity across the country," Conway added.

NewStar Financial is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle market. The company specializes in providing senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisition and recapitalization, as well as, equipment purchases.