NXT Capital Closes Senior Credit Facility in Support of Pfingsten’s Acquisition of American Cutting Edge

Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Pfingsten’s acquisition of American Cutting Edge.   

NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.

“NXT Capital’s support and proven expertise was critical to the successful closing of this transaction. Their commitment to this investment helps American Cutting Edge reliably deliver unique, custom products and services to their customers,” said Scott Finegan, Senior Managing Director, Pfingsten. “We look forward to collaborating with them in the future.”

Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth. Since completing its first investment in 1991, Pfingsten has raised six investment funds with total commitments of approximately $1.8 billion and has acquired 173 manufacturing, distribution and business services companies.

American Cutting Edge is a leading supplier of consumable industrial knives, blades and razors. In addition, American Cutting Edge provides value-added services including sharpening, etching and inventory management.  Founded by Charles Biehn, Sr. in 1965, American Cutting Edge leverages its engineering capabilities, sourcing relationships and knowledgeable employee base to remove the hassle involved in industrial cutting.

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 $32 billion in loan commitments in more than 520 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.