NXT Capital announced that it has provided a $116 million senior secured credit facility to support LKCM Headwater Investments’ acquisition of TestEquity. 

NXT Capital acted as the Joint Lead Arranger, Administrative Agent and Joint Bookrunner for this transaction.  

“NXT was an outstanding financing partner,” said Joel Stewart at LKCM Headwater Investments. “The NXT team met our aggressive timeline to close this transaction and worked collaboratively alongside management and our team to deliver a great solution for the company.” 

LKCM Headwater Investments is the private investment arm of Luther King Capital Management, a Fort Worth based investment firm founded in 1979 with approximately $13.7 billion in assets under management.  LKCM and its affiliates have a long history of successfully investing in and growing value-added and niche distributors.  

TestEquity is a value-added distributor of test and measurement equipment and MRO tools and supplies for laboratories and electronics manufacturing, and a manufacturer of environmental chambers. Celebrating more than 46 years in business, the company is an authorized stocking distributor for many major brands. In addition to offering new equipment for sale, rental, or lease from these and other manufacturers, TestEquity provides selected pre-owned equipment that is fully restored, tested and calibrated, and backed with an industry-leading one-year warranty. With resources that include a highly trained team of product specialists and a calibration laboratory, TestEquity maintains its headquarters and manufacturing facilities in Moorpark, California, with sales offices throughout the United States, Canada, and Mexico.