Chicago, Illinois – NXT Capital announced today that it has provided a unitranche credit facility to support Chef Merito’s merger with La Fiesta. Chef Merito is a portfolio company of PNC Riverarch.  

NXT Capital acted as the Administrative Agent, Sole Lead Arranger, and Sole Bookrunner on this transaction.

“NXT Capital moved quickly on the transaction and was flexible in addressing all of our needs.” said Brian Blake, Director, PNC Riverarch. “We look forward to partnering with them on future deals”.

Chef Merito manufactures and distributes branded seasonings, marinades, spices and pastes focused on the Hispanic segment sold through independent and traditional retailers primarily in Southwest region.

La Fiesta is a distributor of packaged spices and herbs primarily serving the U.S. Hispanic population through a Direct Store Delivery to the Southwest region.

PNC Riverarch Capital (“PNC Riverach”) is a middle-market private equity firm that invests in privately held companies. The firm seeks high-quality businesses where it can invest $25 million to $100 million of equity capital to support recapitalizations, leveraged buyouts, corporate divestitures, and growth financings. The firm is based in Pittsburgh, Pennsylvania and is currently investing from PNC Riverarch IV, a $1 billion private equity a middle-market private equity firm.

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.