NXT Capital closed a $95 million unitranche credit facility in support of L Squared Capital Partners’ acquisition of Crane 1. NXT Capital acted as the administrative agent, sole lead arranger and sole bookrunner on the transaction.
Crane 1 is a provider of overhead crane MRO services and equipment in the United States. Headquartered in Miamisburg, OH, with operations in 15 states and a technician base of more than 220, Crane 1 offers a suite of services, including OSHA mandated inspections, maintenance, repair, design and installation of overhead crane systems and below-the-hook lifting devices.
“We are very pleased to partner with NXT Capital on another transaction,” Sean Barrette, a partner at L Squared Capital Partners, said. “NXT was fast and flexible in addressing all of our needs.”
L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA.