The Middle Market Growth Program (MMGP), jointly managed by Antares and LStar Capital, closed a senior secured unitranche credit facility to support the equity investment of Nautic Partners in Response Team 1.

Wheeling, IL-based Response Team 1 is a national provider of property restoration and renovation services with over 40 locations across the U.S. RT1’s mitigation and structural restoration services, which are primarily insurance-paid, are performed following water, fire, and storm damage at single-family, multi-family, and commercial properties. The company also provides high volume renovation services to REITs and large multifamily property operators.

“We greatly value our longstanding relationship with Antares and LStar. Their MMGP solution worked well in the RT1 transaction because it provided expedient, reliable financing to support our investment,” said Doug Hill, managing director of Nautic Partners.

“We have a long, successful history with Nautic Partners, and we were pleased to utilize our unitranche offering as a way to meet their needs,” said Dan Barry, senior managing director of Antares Capital. “Response Team 1 is a well-regarded national brand and we look forward to working with Nautic and the Response Team 1 management team as they pursue continued growth for the business.”

MMGP provides private equity sponsors and borrowers with access to first lien unitranche loans. MMGP does not require rating agency meetings or a syndication process, so deals can close in as little as three weeks.