Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Renovo Capital’s acquisition of Pavement Maintenance Group.
NXT Capital acted as the Administrative Agent, Sole Bookrunner, and Sole Lead Arranger on this transaction.
“We are pleased to have successfully completed our first deal with NXT Capital. We valued their collaborative approach and dedication to providing an excellent solution for the company. We look forward to working together on future opportunities,” said Jonathon Miller, Partner, Renovo Capital.
Renovo Capital is a Dallas, Texas – based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 35 transactions and raised over $400 million of committed capital.
Pavement Maintenance Group (PMG) is the premier provider of solutions for the aftermarket repair, maintenance and care of paved and specialty surfaces.
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 $29 billion in financing 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/.