NXT Capital has provided a senior secured credit facility to fund Westview Capital Partners’ recent acquisition of Apex Print Technologies. NXT Capital was the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.
“NXT Capital was an outstanding financing partner,” said John Turner, General Partner, WestView Capital Partners. “NXT’s experience in the healthcare revenue cycle management industry and ability to provide a unitranche structure that met our needs were important considerations.”
Apex provides a suite of revenue cycle services focused on improving patient statements and collections, predominantly for healthcare providers. The company’s primary services include: (i) electronic and paper statement processing and presentment, (ii) software-as-a-service based support tools that allow customers to manage the entire patient-pay collection process, and (iii) an online payment offering. Apex was founded in 1995 and is headquartered in St. Paul, MN with an additional facility in Green Bay, WI (www.apexinformationtech.com).
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 targets senior financing opportunities up to $150 million with a hold size up to $50 million. 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, Charlotte, Dallas, Kansas City, Minneapolis/St. Paul, Phoenix, San Francisco and Silicon Valley (www.nxtcapital.com)
WestView Capital Partners invests from $10 million to $40 million of equity in lower middle market companies with EBITDAs between $3 million and $20 million. Industries of interest include business and healthcare services; software and IT services; industrial and manufacturing; distribution and logistics; media and publishing; and consumer products and retail. The firm will invest both as a minority or majority investor. In November 2013 the firm closed WestView Capital Partners III, LP, at $430 million. The fund experienced strong demand and was significantly over-subscribed. WestView was founded in 2004 by Managing Partners Carlo von Schroeter and Rick Williams. The firm is based in Boston (www.wvcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-17-13