Daily News: October 2, 2014

NXT Capital Provides $17MM for Shorehill Capital Buy

NXT Capital announced it provided a $17 million senior secured facility to fund Shorehill Capital’s acquisition of Belt Power. NXT acted as sole lead arranger, sole bookrunner and administrative agent for the transaction.

“NXT provided an attractive financing structure that supports our investment management plan for Belt Power,” said Rob Hogan, managing director, Shorehill Capital. “We appreciate NXT’s responsiveness and look forward to working together to support the continued growth of the business.”

Atlanta-headquartered Belt Power is a full-service distributor and fabricator that specializes in providing conveyor belting products to the manufacturing industry.

Chicago-based Shorehill Capital is a private equity firm.