MidCap Financial provided a $145 million senior-secured, asset-based credit facility to Newman Tractor, LLC. Proceeds from the credit facility were used to refinance capital structure, general corporate purposes and will be available for ongoing working capital needs.

For 40 years, Newman Tractor has been supplying heavy equipment to the construction industry. Originally founded as a farm equipment business in Boone County, Kentucky in 1976, Newman Tractor has transformed into one of this country’s most reputable, and recognized, heavy equipment sales, and rental companies in the industry. The Company services over 1,000 customers out of their five locations in Kentucky, Florida, and Ohio.