Chicago, Illinois – NXT Capital announced today that it closed a $95 million unitranche credit facility in support of L Squared Capital Partners’ acquisition of Crane 1.

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

Crane 1 is one of the largest providers of overhead crane MRO services and equipment in the United States. Headquartered in Miamisburg, OH, with operations in 15 states and a technician base of over 220, Crane 1’s services and products maximize safety, diminish liability, reduce maintenance costs, and increase overall productivity. The Company offers a full suite of services, including OSHA mandated inspections, maintenance, repair, design and installation of overhead crane systems and below-the-hook lifting devices.

“We are very pleased to partner with NXT Capital on another transaction,” said Sean Barrette, Partner, L Squared Capital Partners. “NXT was fast and flexible in addressing all of our needs.”

L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services.  The principals of L Squared have worked together for over a decade and have over 80 years of combined experience investing in growing private companies. The Crane 1 investment represents L Squared’s second platform investment in Fund III, a $505 million fund that closed in September 2020.

NXT Capital provides structured financing solutions through its Direct Lending and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix. NXT Capital is a wholly owned subsidiary of ORIX Corporation USA.