FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


NXT Capital Provides $47.5MM to Finance GPSTrackit’s Add-On Acquisition of InTouch GPS

June 29, 2018, 07:06 AM
Filed Under: Transportation

NXT Capital announced that it has provided a $47.5 million senior secured credit facility to refinance existing debt and to support GPSTrackit’s add-on acquisition of InTouch GPS. GPSTrackit is a portfolio company of Inverness Graham.

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

“We are excited to begin this relationship with NXT Capital as a financing partner,” said Keith Schneider, President and Chief Executive Officer, GPSTrackit. “With this credit facility, we are well positioned to execute on our growth strategy.”

Headquartered in Roswell, Georgia and founded in 2008, GPSTrackit is a SaaS based asset-tracking and fleet management solutions provider with over 8,000 customers across the Americas. The company’s purpose-built software offerings deliver meaningful cost reduction, increased fleet efficiency, and improved driver safety.

Headquartered in Lakeland, Florida, InTouch GPS is a fleet tracking company with thousands of customers across the United States.

“This was our first deal with NXT Capital.  Based on their experience in the space, the NXT team was able to ramp-up quickly to provide a tailored solution to support GPSTrackit’s strategic growth initiatives,” said Chris Frystock, Vice President, Inverness Graham. “They were able to provide certainty to close while working along a very aggressive timeline; we are looking forward to working with NXT in the future.”   

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.