NXT Capital announced Monday that it has provided a senior credit facility to fund Audax Group‘s acquisition of Advanced Dermatology & Cosmetic Surgery. NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for the deal. Terms were not released. Audax is a middle-market private equity shop.
NXT Capital today announced that it
has provided a senior credit facility to fund Audax Group’s acquisition of
Advanced Dermatology & Cosmetic Surgery (“ADCS”), including its Ameriderm
NXT Capital was the sole lead arranger, sole bookrunner and administrative
agent for this transaction.
Audax Group, founded in 1999, is a leading investor in lower-middle market
companies. With offices in Boston and New York, Audax has raised in excess
of $5.0 billion of equity, mezzanine debt, and senior loan capital.
ADCS is a leading operator of dermatology clinics in the United States,
with more than 50 centers in Florida and Ohio providing clinical,
cosmetic, and pathology services. Its Ameriderm division offers outsourced
back-office services to independently owned dermatology clinics throughout
the United States.
“NXT Capital was an ideal partner for this acquisition,” said Audax
Group’s David Wong, Principal. “Extensive healthcare expertise meant that
NXT could tailor senior stretch financing to our specific needs. We were
also pleased that NXT could eliminate uncertainty by holding the entire
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.