Chicago, IL – NXT Capital announced today that it has provided an incremental credit facility to OptConnect (“Company”), a Graham Partners portfolio company, in connection with its add-on acquisition of DPL Wireless. The incremental financing increases the Company’s total credit facility almost twofold.
NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.
“It was a pleasure to work with NXT Capital on another transaction, and we look forward to continuing our partnership as OptConnect and DPL Wireless enter a new stage of growth while continuing to provide a great solution for their customers globally,” said Steve Wittmann, Principal, Graham Partners.
Graham Partners is a private investment firm principally focused on investing in technology-driven companies in advanced manufacturing and technology-enabled services that are spurring innovation, resulting in product substitutions, raw materials conversions, and disruptions to traditional end markets. Graham Partners typically targets companies with EBITDA up to $50 million.
Since its inception in 2009, OptConnect has emerged as a leading global provider of cellular IoT connectivity services for security equipment, ATMs, wireless kiosks, micro markets, smart safes, digital signage, parking and mobility, irrigation systems, and many other IoT applications. Thousands of customers across the world rely on OptConnect for its ‘easy button’ approach, plug-and-play hardware, managed services, and world-class customer care.
DPL Wireless is a trusted provider of managed IoT and ATM connectivity solutions, delivering intelligent technology that improves reliability, performance, and operational insight. With a strong commitment to engineering excellence and customer support, DPL helps organizations modernize their connectivity infrastructure and leverage data-driven intelligence through its Hercules AI platform.
NXT Capital provides structured financing solutions through its Direct Lending group and targets U.S.-based borrowers with EBITDA between $5 million and $50 million. Since NXT Capital’s inception in 2010, their Direct Lending team has closed over $26 billion in loan commitments in more than 540 platform transactions. NXT Capital is based in Chicago with offices in Atlanta, Dallas, and New York and is the direct lending focused wholly-owned subsidiary of ORIX Corporation USA.