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NXT Capital Provides $40MM for Recapitalization of Maroon, Inc.

July 08, 2014, 07:57 AM
Filed Under: Chemicals

NXT Capital announced that it has provided a $40 million senior secured facility to fund CI Capital Partners and Management’s recapitalization of Maroon, Inc., which has changed its name to Maroon Group LLC.  NXT Capital was the sole lead arranger, sole  bookrunner and administrative agent for this transaction.
Founded in 1977, Maroon Group has become a leader in the specialty chemical distribution industry and has built deep supplier and customer relationships through its technical product knowledge and consistent on-time delivery of products.  Through a network of distribution centers across North America, Maroon supplies nearly 900 customers with more than 30 million pounds of specialty additives, resins and pigments annually, with a focus on the plastics, coatings, composites, rubber and adhesives markets. 

“NXT Capital is a valued financing partner and we are pleased to work with them once again,” said Joost Thesseling, Managing Director, CI Capital Partners. “NXT developed an understanding of Maroon Group’s business and provided a flexible financing solution to support the company’s growth.”
CI Capital Partners LLC, a North American private equity firm, has been investing in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth and operational improvements. Since the firm’s inception, CI Capital and its portfolio companies have made more than 125 acquisitions representing over $7 billion in enterprise value.
NXT Capital provides structured financing solutions to middle-market companies and real estate investors through its Corporate Finance, Equipment Finance and Real Estate Finance groups. Based in Chicago with offices in Atlanta, Charlotte, Dallas, Kansas City, Los Angeles, Minneapolis/St. Paul, New York, Phoenix, San Francisco and Stamford, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million.

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