TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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January 27, 2025
Source: MidCap Financial
BETHESDA, MD, January 23, 2025 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $145mm senior-secured, asset-based credit facility to Newman Tractor, LLC (“Newman Tractor” or the “Company”). Proceeds from the credit facility were used to refinance capital structure, general corporate purposes and will be available for ongoing working capital needs.
About the Company
For 40 years, Newman Tractor has been supplying heavy equipment to the construction industry. Originally founded as a farm equipment business in Boone County, Kentucky in 1976, Newman Tractor has transformed into one of this country’s most reputable, and recognized, heavy equipment sales, and rental companies in the industry. The Company services over 1,000 customers out of their five locations in Kentucky, Florida, and Ohio.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of September 30, 2024, MidCap Financial provides administrative or other services for over $53 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $733 billion as of September 30, 2024, in credit, private equity and real assets funds.
For more information about MidCap Financial, please visit www.midcapfinancial.com.
For more information about Apollo, please visit www.apollo.com.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV
Contact:
MidCap Financial Services, LLC
Garrett Fletcher, President of Structured Finance
301-841-6439
gfletcher@midcapfinancial.com
