First Atlantic Capital is acquiring TestEquity, the California-based company which sells and rents test and measurement equipment. NXT Capital arranged senior secured debt for the deal. Specifics on the transaction were not published.
Correction: This story earlier misstated the name of First Atlantic Capital in the headline.
NXT Capital Acts as Lead Agent and Provides $65.5 Million for First Atlantic Capital’s Acquisition of TestEquity LLC
Chicago, Illinois, December 21, 2012 – NXT Capital today announced that it has provided $65.5 million in senior secured facilities to fund First Atlantic Capital’s acquisition of TestEquity LLC.
NXT Capital was the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.
TestEquity (www.testequity.com) specializes in selling and renting new and reconditioned bench-top general purpose test and measurement equipment. Based in Moorpark, California, TestEquity also manufactures a proprietary line of automated test chambers.
First Atlantic Capital (www.firstatlanticcapital.com) is a leading middle-market private equity firm that focuses on the plastics and packaging, food and beverage, industrial products, business services and consumer products industries. Founded in 1989 and headquartered in New York City, First Atlantic has acquired more than 60 companies and consolidated them into 21 major platforms.
“NXT Capital was a natural choice for financing this deal following the successful relationship we established during the Resource Label Group acquisition,” said Emilio Pedroni, Managing Director, First Atlantic Capital.
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. See www.nxtcapital.com for more information.