NXT Capital announced that it has provided a $195 million senior secured credit facility to refinance Custom Ecology’s existing credit facility and provided financing for Custom Ecology’s acquisition of Stansley Industries. Custom Ecology is a portfolio company of Kinderhook Industries. NXT Capital acted as the sole lead arranger, sole bookrunner and administrative agent for this transaction.
“We appreciate NXT’s flexible financing solution in continued support of Custom Ecology. NXT’s creativity and certainty of execution makes them an ideal financing partner for Custom Ecology,” said Corwynne Carruthers, Managing Director, Kinderhook Industries.
Custom Ecology is an industry leader in full-service municipal, industrial and hazardous waste transportation solutions. Headquartered in Mableton, Georgia, Custom Ecology is licensed and insured to transport all types of liquids, semi-liquids, sludges, solids and drums throughout the United States and Canada.
Stansley Industries provides trucking and transportation services for the waste management, recycling and bulk materials markets throughout Michigan and Ohio.
Founded in 2003, Kinderhook Industries is a private equity firm with over $1.25 billion of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $25 million to $250 million in which the firm believes it can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook has a history of successfully building privately held firms in partnership with management.
NXT Capital provides structured financing solutions through its Corporate Finance, Equipment Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Charlotte, Dallas, Los Angeles, Nashville, New York, Phoenix, San Francisco and Stamford.