NXT Capital announced that it has provided a $35 million senior secured credit facility to support Summit Park’s acquisition of Arkive Information Management, LLC.
NXT Capital acted as the Joint Lead Arranger, U.S. Agent and Joint Bookrunner for this transaction.
“We are pleased to work with the NXT Capital team on a fourth deal,” said Matt Magan, Principal, Summit Park. “Once again, NXT provided the flexibility and certainty we needed to swiftly move ahead on this opportunity.”
Arkive Information Management is headquartered in Atlanta, Georgia and provides records management solutions to a diverse base of customers across the United States and Canada. Arkive is one of the largest document storage service providers in Canada and a leader in each of its U.S. markets.
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a wide range of industries, including business and consumer services, light manufacturing and value-added distribution. Summit Park targets businesses with revenue between $20 and $100 million and located in the Eastern half of the United States. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan.
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.