Chicago, Illinois – NXT Capital today announced that it has provided a senior secured facility to finance Ridgemont Equity Partners’ acquisition of Abrasive Products and Equipment, LLC.
NXT Capital was the Joint Lead Arranger, Administrative Agent and Sole Bookrunner for this transaction.
Abrasive Products and Equipment is a leading, value-added provider of surface preparation, remediation, abatement, safety, environmental and waterjet cutting products and solutions to contractors in a variety of industrial markets. Headquartered in Deer Park, Texas, the company operates out of 14 locations throughout the Gulf Coast and Mid-Atlantic regions.
“NXT Capital was an outstanding financing partner,” said David Lavins, Vice President, Ridgemont Equity Partners. “As they have done in the past, the NXT team met our aggressive schedule for closing the transaction. They were also flexible and reliable throughout the process.”
Based in Charlotte, North Carolina, Ridgemont Equity Partners is a middle market buyout and growth equity investor. Since 1993, Ridgemont’s principals have invested over $3 billion in more than 110 companies.
NXT Capital provides structured financing solutions to middle-market companies and real estate investors through its Corporate Finance, Equipment Finance and Real Estate Finance groups. Based in Chicago with offices in Atlanta, Charlotte, Dallas, Kansas City, Los Angeles, Minneapolis/St. Paul, New York, Phoenix, San Francisco and Stamford, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million.