NXT Capital has launched NXT Capital Equipment Finance. This new business will be led by Michael Gay, an equipment finance industry veteran. Launching Equipment Finance is another step in NXT Capital’s development as a diversified commercial finance company. The new group complements NXT Capital’s existing Corporate Finance, Real Estate Finance and Venture Finance groups.
“We’re delighted to welcome Michael Gay and a talented team of equipment financing professionals to NXT Capital,” said Robert Radway, Chairman and CEO. “Equipment finance is a business we’re very familiar with and one that is a logical, attractive expansion of the NXT platform.”
NXT Capital Equipment Finance offers loans and leases from $2 million to $20 million to finance new and used equipment for companies with revenues of $50 million and above across most industries. Products include secured term loans, tax-oriented leases, finance leases, operating leases, TRAC leases and sale-leaseback transactions.
“Many middle-market companies continue to suffer from a lack of access to capital to obtain essential equipment,” said Mr. Gay. “NXT Capital Equipment Finance is ideally positioned to serve these companies, providing the creative, reliable financing solutions they need.”
NXT Capital provides structured financing to middle-market and growth companies through its Corporate Finance, Equipment Finance, Real Estate Finance and Venture Finance groups, originating transactions directly on a national basis. NXT Capital is led by former principals of Merrill Lynch Capital and was formed in 2010 by Stone Point Capital and the founding management team. The firm is based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach, San Francisco and Silicon Valley (www.nxtcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-2-13