NXT Capital backs skincare company

The $53.5 million senior credit facility levers up a significant private equity investment in IMAGE Skincare.  

NXT Capital has provided a $53.5 million senior secured credit facility to support MidOcean Partners significant investment in IMAGE Skincare. The exact equity stake wasn’t disclosed. The Chicago-based lender was the lead arranger, bookrunner and administrative agent on the transaction.  

“NXT provided a flexible financing solution which allowed us to move forward quickly and with certainty, on terms that address our plans for the company’s growth,” Jonathon Marlow, principal at MidOcean Partners, said in a statement. 

The firm has been making corporate loans from its third senior loan fund, which it closed at $800 million in January. The capital includes $291 million in LP equity commitments with the $509 balance sourced via bank credit lines. 

IMAGE Skincare is a clinical skincare company that producesskincare products. Its branded products are sold primarily through spas, aestheticians and physicians. The company was founded in 2003 and is based in Palm Beach, Florida.  

MidOcean Partners is a private equity firm headquartered in New York and focused on the mid-market. MidOcean is committed to investing in companies with stable market positions and opportunities for growth. Its target sectors include consumer and media/business services.  

NXT Capital provides structured financing solutions through its corporate finance, equipment finance and real estate finance groups. The firm has $5.5 billion in assets and is based in Chicago, with nine additional offices in major US cities.