Chicago, Illinois – NXT Capital announced today that it has provided a unitranche credit facility to support Shoreline Equity Partners’ acquisition of Prime Meats, LLC.
NXT Capital acted as the Administrative Agent, Sole Lead Arranger, and Sole Bookrunner on this transaction.
“We are incredibly excited to partner with Shoreline once again to support their acquisition of another exceptional business in Prime Meats,” stated Jeff White, Director, NXT Capital. “Our team at NXT Capital prides ourselves on our ability to consistently deliver tailored financial solutions that support our sponsor relationships in a manner that’s both efficient and effective.”
“We are pleased to close another deal with NXT Capital,” stated Ian Garland, Principal, Shoreline Equity Partners. “The NXT Capital team demonstrated great expertise and worked quickly and collaboratively alongside management to successfully close the transaction.”
Prime Meats is a leading value-added protein processor and distributor that primarily serves a highly diversified base of foodservice and retail customers and has deep ties to the Hispanic community. Prime Meats has successfully positioned itself as the preeminent Hispanic-focused protein processor and distributor in the Southeast U.S.
Shoreline Equity Partners (“Shoreline”) is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a “win-win” proposition for shareholders, employees, customers, vendors, and the communities within which the firm’s companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. With over $750 million of committed capital under management, Shoreline seeks to lead equity investments of up to $150 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $50 million to $350 million and EBITDA of $5 million to $30 million. The firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others.
NXT Capital provides structured financing solutions through its Direct Lending group and is based in Chicago with offices in Atlanta, Dallas, and New York. NXT Capital is a wholly-owned subsidiary of ORIX Corporation USA.