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NXT Capital Agents $17MM in Shorehill’s Acquisition of Belt Power

October 01, 2014, 07:08 AM
Filed Under: Distribution

NXT Capital announced that it has provided a $17 million senior secured facility to fund Shorehill Capital’s acquisition of Belt Power LLC. NXT Capital was the sole lead arranger, sole bookrunner and administrative agent for this transaction.

Belt Power is a full-service distributor and fabricator that specializes in providing conveyor belting products to the manufacturing industry. Headquartered in Atlanta, Georgia, Belt Power’s products include conveyor belts, equipment, components and belting accessories, as well as rubber, hose and gasket products.

Shorehill Capital is a Chicago-based private equity firm whose principals have over 25 years of experience investing in middle market industrial and distribution companies.  Shorehill Capital invests with visionary management teams to apply proven strategies, accelerating growth, creating value and positioning companies for attractive exits.

“NXT provided an attractive financing structure that supports our investment management plan for Belt Power,” said Rob Hogan, managing director, Shorehill Capital. “We appreciate NXT’s responsiveness and look forward to working together to support the continued growth of the business.” 

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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