Chicago, Illinois – NXT Capital announced today that it has provided a $251 million senior secured credit facility to support the refinancing of Maroon Group and its acquisition of J. Tech Sales. Maroon Group is a portfolio company of CI Capital Partners.
NXT Capital acted as the Sole Lead Arranger, Administrative Agent and Sole Bookrunner for this transaction.
“NXT has been a great financing partner since our initial acquisition of Maroon Group in 2014,” said Joost Thesseling, Managing Director at CI Capital Partners. “NXT’s longstanding support of the company’s growth strategy along with their ability to execute on a tight timeline provided the certainty we needed.”
Maroon Group is a leading distributor of specialty chemicals and ingredients across North America. Based in Avon, Ohio, Maroon Group has thrived on creating success for customers by forming partnerships with leading manufacturers and supplying consistent products on time. Customers in the CASE, Plastics, Specialty Intermediates, CARE, and HI&I markets have come to rely on Maroon’s technical sales team, exceptional customer service, and global sourcing capabilities. The company will continue to explore opportunities to form partnerships with proven entrepreneurs that have built sustainable, best-in-class distributors of specialty chemicals and ingredients.
CI Capital Partners LLC is a leading North American private equity investment firm that has invested in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth, and operational improvements. Since inception, CI Capital and its portfolio companies have made over 280 acquisitions representing over $9 billion in enterprise 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.