Chicago, Illinois – NXT Capital announced that it has provided a $31.5 million senior secured credit facility to support River Associates Investments’ and Premier Parking’s management team’s acquisition of Premier Parking.
NXT Capital acted as the Sole Lead Arranger, Administrative Agent and Sole Bookrunner for this transaction.
“We are pleased to work with the NXT Capital team again,” said Blake Lewis, Vice President of River Associates Investments. “NXT was fast and flexible in addressing all our needs. We look forward to working with NXT again in the future.”
River Associates Investments, L.P. is a private equity firm based in Chattanooga, TN, that focuses exclusively on investing in the lower middle-market and has served as a financial sponsor partner for management teams for over 25 years. Target businesses can be privately held, private equity-backed, or divestitures from larger companies. River is opportunistic as to industry and has invested in numerous manufacturers, high margin distributors, industrial service providers and business service companies. The firm targets U.S. & Canadian companies typically with EBITDA in the $3-12 million range. Since its founding in 1989, River has initiated 80 transactions, many of which have been strategic add-on acquisitions to platform companies.
Founded in 2001 and based in Nashville, TN, Premier Parking is one of the fastest, organically-growing parking companies in the U.S., quickly becoming ranked among America’s leading companies in the parking industry. Premier Parking successfully operates, manages, and supports a wide range of industries by concentrating on customer service, innovative and forward-thinking solutions, and a technology-focused approach. The company manages over 360 locations in 31 cities, employing more than 1,200 team members.
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.