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.

Chicago, Illinois – NXT Capital today announced that it has provided a senior credit facility to fund Audax Group’s acquisition of Advanced Dermatology & Cosmetic Surgery (“ADCS”), including its Ameriderm division.

NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for this transaction.

Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has raised in excess of $5.0 billion of equity, mezzanine debt, and senior loan capital.

ADCS is a leading operator of dermatology clinics in the United States, with more than 50 centers in Florida and Ohio providing clinical, cosmetic, and pathology services. Its Ameriderm division offers outsourced back-office services to independently owned dermatology clinics throughout the United States.

“NXT Capital was an ideal partner for this acquisition,” said Audax Group’s David Wong, Principal. “Extensive healthcare expertise meant that NXT could tailor senior stretch financing to our specific needs. We were also pleased that NXT could eliminate uncertainty by holding the entire transaction.”

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 of up to $150 million with a hold size up to $50 million.