Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of LKCM Headwater Investments’ add-on acquisition and refinancing of Relevant Industrial.
NXT Capital acted as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent on this transaction.
“The NXT Capital team provided exceptional support during the transaction,” said Joel Stewart, Principal, LKCM Headwater Investments. “We are excited to be partnering with them and look forward to continuing the partnership in the future.”
LKCM Headwater Investments (“LKCM”) is affiliated with Luther King Capital Management, an SEC-registered investment firm established in 1979 with over $29 billion of AUM, 108 total employees including 73 investment and other professionals. LKCM’s proven investment discipline centers on a long-term focus of investing in well-managed companies that demonstrate an ability to re-invest cash flows into high return investment opportunities. The LKCM team has over 100 years of collective experience investing in private operating companies. Since 2000, members of the team have collectively completed over 30 platform transactions with over 100 follow-on acquisitions, totaling over $2.5 billion of invested capital. LKCM is currently investing out of their fifth dedicated private investment partnership, LKCM Headwater Investments IV, L.P., which has $975 million of committed capital.
Relevant Industrial, LLC (“Relevant”) is a dynamic engineered products and services distribution platform with extensive value-add solutions and robust technical capabilities. Relevant’s in-house, bespoke offerings provide high-value, highly technical engineered instrumentation, automation, rotating equipment and controls solutions to help customers discover new and more efficient ways to enhance their operations. Relevant brings together the industry’s top problem-solvers — skilled technicians, engineers, designers, and experts across various fields — dedicated to finding solutions and delivering results. Relevant Industrial is your partner for relevant solutions.
NXT Capital provides structured financing solutions through its Direct Lending group and targets U.S.-based borrowers with EBITDA between $5 million and $50 million. Since NXT Capital’s inception in 2010, their Direct Lending team has closed over $30 billion in loan commitments in more than 500 platform transactions. NXT Capital is based in Chicago with offices in Atlanta, Dallas, and New York and is the direct lending focused wholly-owned subsidiary of ORIX Corporation USA.