NXT Capital provided a $31.5 million senior secured credit facility to support River Associates Investments‘ and Premier Parking’s management team’s acquisition of Premier Parking.

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

“We are pleased to work with the NXT Capital team again,” said Blake Lewis, vice president of River Associates Investments. “NXT was fast and flexible in addressing all our needs.”

River Associates Investments is a private equity firm based in Chattanooga, TN, that focuses exclusively on investing in the lower middle-market and has served as a financial sponsor partner for management teams for more than 25 years. The firm targets U.S. and Canadian companies typically with EBITDA in the $3 million to 12 million range. Since its founding in 1989, River has initiated 80 transactions, many of which have been strategic add-on acquisitions to platform companies.

Founded in 2001 and based in Nashville, TN, Premier Parking manages more than 360 locations in 31 cities, employing more than 1,200 team members.