Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Pfingsten Partners’ acquisition of Runyon Surface Prep.
NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.
“NXT Capital’s expertise and support were instrumental in the successful closing of this transaction,” said Ryan Lavelle, Principal, Pfingsten. “We appreciate their commitment and collaborative approach in supporting our acquisition of Runyon Surface Prep and look forward to working together again in the future.”
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised six investment funds with total commitments of approximately $1.8 billion and has acquired 180 manufacturing, distribution and business services companies.
Runyon Surface Prep is a value-added distributor of consumables and equipment for concrete surface preparation, polishing and resinous flooring applications. Headquartered in Carmel, Indiana with four additional facilities in California and New Jersey, the company provides a complete offering of equipment, consumables, aftermarket parts, service and rental.
NXT Capital provides structured financing solutions through its Direct Lending group and targets U.S.-based borrowers with EBITDA between $5 million and $50 million. Since NXT Capital’s inception in 2010, their Direct Lending team has closed over $27 billion in loan commitments in more than 540 platform transactions. NXT Capital is based in Chicago with offices in Dallas and New York and is the direct lending focused wholly-owned subsidiary of ORIX Corporation USA.