NXT Capital said Wednesday it provided $20 million in senior secured financing to recapitalize 1-800-Radiator & A/C. Benicia, Calif-based 1-800-Radiator & A/C is a North American distributor of aftermarket automotive heating and cooling parts.
Chicago, Illinois, August 7, 2013 – NXT Capital (www.nxtcapital.com) today announced that it has provided $20 million in senior secured financing to recapitalize 1-800-Radiator & A/C.
NXT was the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.
1-800-Radiator & A/C (www.1800radiator.com) is a leading North American distributor of aftermarket automotive heating and cooling parts. Founded in 1982 and based in Benicia, California, 1-800-Radiator & A/C has over 200 franchised locations serving every major market in the U.S. and Canada. The company recently started offering fuel delivery products and plans to expand into additional part categories in the near future.
“NXT Capital proved to be an excellent partner for us in this deal. Their automotive and franchise experience made them the ideal partner not only to help us complete the transaction, but also to support our long-term growth initiatives,” said Eric Singer, Executive Vice President, 1-800 Radiator & AC. “We are very happy to have partnered with NXT and view this transaction as the beginning of a long term relationship.”
“NXT provided 1-800 Radiator & AC with a financing solution that will enable us to continue to expand our presence in the North American automotive aftermarket,” said Gabe Mendoza, Chief Operating Officer, 1-800 Radiator & AC. “With NXT’s help, we look forward to continuing our expansion into product categories that will complement our market leading position in the automotive heating and cooling marketplace.”
NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Equipment Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Charlotte, Dallas, Phoenix, San Francisco and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million. See www.nxtcapital.com for more information.
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