NXT Capital Backs PNC RiverArch Capital’s Acquisition of Waffle Mix Busines

NXT Capital has provided a $52.8 million senior secured facility to finance PNC RiverArch Capital’s acquisition of New Carbon Company. South Bend, Indiana-based New Carbon Company is a provider of waffle mix to restaurants, hotels, resorts and colleges and universities, serving over 40,000 customer locations across the U.S.

PRESS RELEASE

NXT Capital today announced that it has provided a $52.8 million senior secured facility to finance PNC RiverArch Capital’s acquisition of New Carbon Company.

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

New Carbon Company is the nation’s largest provider of waffle mix to restaurants, hotels, resorts and colleges and universities, serving over
40,000 customer locations across the U.S. Headquartered in South Bend, Indiana, the company’s unique Golden Malted brand of waffle flour was introduced 75 years ago by founder Fred Carbon.

PNC RiverArch Capital is a middle-market private equity firm that invests
$10 million to $50 million to support recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Its target sectors include outsourced services, specialized manufacturing, and value-added distribution.

“We’re very pleased to complete another transaction with NXT Capital,”
said Michael Rost, Managing Director, PNC RiverArch Capital. “NXT’s flexibility and creativity were instrumental in our ability to close a complex transaction.”

NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach and Silicon Valley, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million.

Related Posts

Leave a Reply

PEHUB Community

Join the 12501 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget