Chicago, Illinois, NXT Capital announced today that it has provided $108 million senior secured credit facility to support CenterOak Partners’ acquisition of GNAP.
NXT Capital acted as the Sole Lead Arranger, Administrative Agent and Sole Bookrunner for this transaction.
“We are very pleased to partner with NXT Capital on another transaction,” said Randall Fojtasek, Managing Partner, CenterOak Partners. “NXT continues to deliver fast and flexible financing solutions, which allows CenterOak to focus on closing the transaction.”
Headquartered in Grand Rapids, MI, GNAP is a leading national distributor of abrasive products, equipment, specialty ceramics and ancillary services used by a broad base of customers. The company’s comprehensive product offering primarily includes blasting media, tumbling media, coated abrasives, specialty ceramic materials, chemicals, metallurgical additives, abrasive equipment, and repair replacement parts. GNAP represents more than 550 global suppliers and serves over 5,000 customers.
CenterOak Partners LLC is a private equity firm with a focus on making control-oriented investments in middle market companies organized or operating in the United States. The Firm specializes in three key industry sectors: Industrial Growth, Consumer, and Business Services. Based in Dallas, Texas, the investment and portfolio management team has a strong historical track record creating significant value through operational improvement. CenterOak’s senior leaders and their predecessor funds have managed over $1.8 billion of equity capital commitments and have completed over 100 acquisitions, representing over $3.3 billion in transaction value.
NXT Capital provides structured financing solutions through its Corporate Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix.