Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Incline Equity Partners’ acquisition of The Conrad Company.
NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.
“It’s a pleasure to team up with NXT Capital on another successful transaction,” said Michael Antonelli, Managing Director, Incline Equity Partners. “NXT delivered competitive terms and a seamless financing process. We look forward to our ongoing partnership to support The Conrad Company’s continued growth.”
The Conrad Company (“TCC”) is a value-added distributor and service provider of fluid power, motion control automation and related industrial products. Headquartered in York, PA, TCC’s pneumatic, hydraulic, automation, lubrication and compressed air offerings support a diverse customer base including manufacturing plants, food and beverage facilities and industrial customers. As a solutions provider to both OEMs and end users, the Company’s comprehensive portfolio of products are supported by ongoing technical service and repair capabilities.
Incline Equity Partners is a leading private equity firm dedicated to investing across the middle market in services, value-added distribution, software & technology and specialized light manufacturing companies. Incline is generally seeking growing companies with enterprise values of $25 – $750 million. Incline’s typical investment types are ownership transitions for privately held businesses, buyouts and corporate divestitures within the U.S. and Canada.
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.