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NXT Capital Supports Shoreline Equity Partners’ Recap of Mr. Greens

January 15, 2020, 09:00 AM
Filed Under: Food Services
Related: NXT Capital

NXT Capital announced that it closed a $47 million loan to finance Shoreline Equity Partners’ recapitalization of Mr. Greens. NXT Capital acted as the Sole Lead Arranger, Sole Bookrunner and Administrative Agent for this transaction.

Headquartered in Miami, Florida, Mr. Greens is a produce, dairy and dry goods distributor serving a large variety of clients, including restaurants, hotels, country clubs, caterers, grocery stores and retail outlets. Mr. Greens delivers 365 days a year, 7 days a week and multiple runs per day to over 1,500 customers across Florida.

“NXT Capital was an excellent partner to finance Shoreline’s first fund investment,” said Zach Mittelmark, Vice President, Shoreline Equity Partners. “NXT was flexible and efficient, which allowed Shoreline to focus on closing the transaction.”

Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. The Firm’s goal is to develop and implement collaborative solutions with portfolio company professionals to drive growth as well as scale and optimize operations. Shoreline professionals employ a genuine, egalitarian, and transparent approach to working with companies. Shoreline seeks to lead equity investments of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $25 million to $250 million and EBITDA of $5 million to $25 million. The Firm strives to partner with management teams of non-capital-intensive businesses primarily within the specialized manufacturing, value-added distribution, and business and industrial services sectors, among others.

NXT Capital provides structured financing solutions through its Corporate Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix.

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