Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of L Squared Capital Partners’ add-on acquisition and recapitalization of Netrio.
NXT Capital acted as the Administrative Agent, Sole Bookrunner, and Sole Lead Arranger on this transaction.
Netrio, a national managed services provider, SUCCESS Computer Consulting, a Minneapolis-based managed services and security firm, and PCA Technology Group, a Buffalo-based managed services and application development firm, were combined to form Netrio, one of North America’s largest full-service MSPs exclusively serving the IT demands of small to mid-market organizations. Netrio has simplified technology management complexities, helping organizations drive innovation, efficiency and growth through managed IT services, cybersecurity solutions, application development and cloud services. The company delivers enterprise-grade IT solutions across several industries, including financial services, healthcare and retail. Netrio enables clients to maximize technology investments while reducing costs.
“We are pleased to have collaborated with NXT Capital on another successful transaction,” said Brian Scott, Principal, L Squared Capital Partners. “Their expertise and efficiency provided the certainty we needed to close the transaction successfully and under a tight timeline.”
L Squared Capital Partners is private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Technology-Enabled Services & Software, Education Technology, and Industrial Technology & Services.
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 $30 billion in loan commitments in more than 500 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. For more information visit https://www.nxtcapital.com/.