NXT Capital announced that it provided a $40 million senior secured facility to fund CI Capital Partners and management’s recapitalization of Maroon, which has changed its name to Maroon Group.

NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for this transaction.

Founded in 1977, Maroon Group has become a leader in the specialty chemical distribution industry and has built deep supplier and customer relationships through its technical product knowledge and consistent on-time delivery of products. Through a network of distribution centers across North America, Maroon supplies nearly 900 customers with more than 30 million pounds of specialty additives, resins and pigments annually, with a focus on the plastics, coatings, composites, rubber and adhesives markets.

“NXT Capital is a valued financing partner and we are pleased to work with them once again,” said Joost Thesseling, managing director, CI Capital Partners. “NXT developed an understanding of Maroon Group’s business and provided a flexible financing solution to support the company’s growth.”