Chicago, Illinois,  – NXT Capital announced today that it has provided a $47.5 million senior secured credit facility to refinance existing debt and to support GPSTrackit’s add-on acquisition of InTouch GPS. GPSTrackit is a portfolio company of Inverness Graham.

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

“We are excited to begin this relationship with NXT Capital as a financing partner,” said Keith Schneider, President and Chief Executive Officer, GPSTrackit. “With this credit facility, we are well positioned to execute on our growth strategy.”

Headquartered in Roswell, Georgia and founded in 2008, GPSTrackit is a SaaS based asset-tracking and fleet management solutions provider with over 8,000 customers across the Americas. The company’s purpose-built software offerings deliver meaningful cost reduction, increased fleet efficiency, and improved driver safety.

Headquartered in Lakeland, Florida, InTouch GPS is a fleet tracking company with thousands of customers across the United States.

“This was our first deal with NXT Capital.  Based on their experience in the space, the NXT team was able to ramp-up quickly to provide a tailored solution to support GPSTrackit’s strategic growth initiatives,” said Chris Frystock, Vice President, Inverness Graham. “They were able to provide certainty to close while working along a very aggressive timeline; we are looking forward to working with NXT in the future.”

Headquartered in Newtown Square, Pennsylvania, Inverness Graham is an operationally focused private investment firm with over $500 million of assets under management. Inverness Graham acquires high growth, innovative manufacturing and services companies. Founded by senior executives of the Graham Group, a family owned multi‐national industrial concern, Inverness Graham brings unparalleled resources developed over a 50‐year operating history to support their portfolio companies. Inverness Graham partners with businesses to provide the financial and operational support necessary to accelerate growth while enabling owners to achieve their key liquidity objectives.

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.