NXT Capital announced that it has provided a $50.5 million senior secured credit facility to support Tenex Capital Management’s acquisition of Ohio Medical Corporation.   NXT Capital acted as the sole lead arranger, administrative agent, and sole bookrunner for this transaction. 

“We are excited to close our third platform transaction with NXT. NXT provided a flexible financing solution that will support the future growth of the Ohio Medical business,” said Scott Galletti, Managing Director, Tenex Capital Management. “We look forward to continuing our growing relationship with NXT.”

Ohio Medical Corporation manufactures and distributes medical suction and oxygen therapy (“SOT”) products and source equipment (“Systems”). SOT product offering includes branded suction/vacuum regulators, flowmeters, and medical gas hoses; Systems includes medical gas pipelines, service, and source equipment. The Company is headquartered in Gurnee, IL and employs approximately 250 employees across its two manufacturing facilities in Gurnee and Toronto, Canada, as well as a sales office in Madison, WI.

Tenex Capital Management is a private equity fund that invests in middle-market companies. Based in New York City, Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services.

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.