Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of CenterOak Partners’ acquisition of Grismer Tire & Auto Service (“Grismer” or the “Company”).
NXT Capital acted as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent on this transaction.
“NXT Capital’s insight and support were instrumental in structuring this transaction for success,” said Eric Holter, Managing Director, CenterOak Partners. “Having worked together previously, we value the strong relationship we’ve built and look forward to continuing and expanding our partnership.”
CenterOak Partners LLC is a Dallas, Texas based private equity firm managing $2.5 billion of equity capital commitments with a focus on making control-oriented investments in middle market companies. The Firm invests in Business Services, Industrial Services and Consumer Services. CenterOak has a history of creating significant value through organizational development, operational improvements, and transformational growth.
Headquartered in Dayton, Ohio, Grismer Tire & Auto Service is a leading independent operator of tire and automotive service centers with 28 locations across the Dayton, Columbus, and Cincinnati metropolitan areas. The Company offers mechanical and electrical repair, preventative and scheduled maintenance, and tire replacement services across a broad range of vehicle types, including electric and hybrid vehicles. Grismer has built a strong reputation for high-quality service, trusted customer relationships, and competitive pricing over its more than 90-year operating history.
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 $26 billion in loan commitments in more than 540 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.