Chicago, Illinois – NXT Capital today announced that it has provided a $241 million senior credit facility to finance JLL Partners’ public-to-private acquisition of American Dental Partners.

NXT Capital was a Joint Lead Arranger, Joint Bookrunner and Co-Syndication Agent for this transaction. Key Bank National Association served as Lead Agent and CIT Capital Securities was a Joint Lead Arranger for this transaction; a syndicate of other lenders also participated.

American Dental Partners is one of the nation’s leading business partners to dental group practices. Headquartered in Wakefield, Massachusetts, the company is affiliated with more than 550 dentists and 27 dental group practices that have 282 dental facilities and approximately 2,404 operatories located in 21 states.

“NXT Capital’s knowledge of the dental practice management space was an important factor in choosing it as a Lead Arranger for this transaction,” said Michel Legarde, Managing Director, JLL Partners. “NXT’s ability to underwrite and its hold size were also important differentiators.”

“Working with a group like NXT that understood our business gave us a high level of confidence,” said ADPI CEO Greg Serrao. “We also appreciated NXT’s ability to work efficiently and effectively with a larger team.”

Founded in 1988, JLL Partners is among the leading private equity investment firms in the country. Since inception, the firm has managed a series of private equity funds aggregating approximately $4 billion in committed capital.

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.