NXT Capital provided a $47.5 million senior secured credit facility to refinance existing debt and to support GPSTrackit’s add-on acquisition of InTouch GPS.
NXT Capital acted as the sole lead arranger, administrative agent and sole bookrunner on this transaction.
“We are excited to begin this relationship with NXT Capital as a financing partner,” said Keith Schneider, president and CEO of GPSTrackit. “With this credit facility, we are well positioned to execute on our growth strategy.”
Founded in 2008 and headquartered in Roswell, GA, GPSTrackit is a SaaS-based asset-tracking and fleet management solutions provider with over 8,000 customers across North and South America. It is a portfolio company of private investment firm Inverness Graham.
Headquartered in Lakeland, FL, InTouch GPS is a fleet tracking company with thousands of customers across the U.S.
