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Chicago, Illinois – NXT Capital today announced that it has provided a $23.6 million senior credit facility to fund Falconhead Capital, LLC’s acquisition of Rita’s Water Ice Franchise Company, LLC.

NXT Capital was the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.

Headquartered in Trevose, Pennsylvania, Rita’s Water Ice Franchise Company is one of the largest franchisors in the frozen treat segment of the restaurant industry and the only one specializing in Italian ice. Founded in 1984, Rita’s ices, custard, gelato and other products are sold at more than 550 stores in 18 states.

“The NXT team was thoughtful, responsive and supported us from our first discussion of the opportunity through closing. NXT Capital was a true partner in the acquisition.” said David Moross, Chairman & CEO of Falconhead Capital.

Falconhead Capital, LLC (www.falconheadcapital.com), with $400 million of assets under management, is a private investment firm established in 1998 to provide investors with significant long-term capital appreciation by investing in consumer-focused businesses. Falconhead Capital’s current portfolio includes Competitor Group, Inc., Escort, Inc., Extreme Fitness, Inc., GPSI Holdings, Javo Beverage Company, Not Your Daughter’s Jeans, Our365 (f/k/a Growing Family) and Premier, Inc. Past Falconhead investments include, among others, National Powersport Auctions, Maritime Telecommunications Network, and ESPN Classic Europe, LLC.

NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million. See www.nxtcapital.com for more information.