Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Riata Capital Group’s acquisition of Coeo Solutions.
NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.
“We are excited to partner with NXT Capital for the first time,” said Tom Belatti, Principal, Riata Capital Group. “The NXT Capital team was easy to work with and provided significant debt capacity to support the business going forward. We look forward to continuing the partnership on Coeo’s next phase of growth.”
Coeo Solutions is a leading provider of managed network and cloud communications solutions intended to allow businesses to connect and communicate easily and securely with each other. The Company serves small to mid-size, multi-location enterprises in industries including healthcare, finance, manufacturing, business services, education, and government. Established in 2014 and headquartered in Downers Grove, IL, the Company provides white glove service to customers nationwide.
Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: business services, consumer, and healthcare services. Riata takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 45 platforms and 350 add-on acquisitions totaling over $7 billion in transaction value.
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 $32 billion in loan commitments in more than 525 platform transactions. NXT Capital is based in Chicago with offices in Atlanta, Dallas, and New York and is the direct lending focused wholly-owned subsidiary of ORIX Corporation USA.