Firmament Provides Debt Financing for NextGen’s Acquisition of Condata
The Firmament Group, a provider of debt and equity capital solutions to small- and medium-size enterprises, announced this month that it would back NextGen Growth Partners’ acquisition of Condata Global Inc. with debt financing.
Terms were not disclosed.
Just in! The @FirmamentGroup invests in Condata Global, Inc. https://t.co/LaLKvQNRYW pic.twitter.com/Y5fnXTlT4N — The Firmament Group (@FirmamentGroup) October 10, 2018
Condata provides freight post audit and recovery services globally, and the majority of its clients are Fortune 500 companies that ship domestically and internationally. NextGen is a Chicago-based private investment firm that partners with entrepreneurial talent to acquire, operate and grow lower-middle-market business across industries. Firmament focuses on turning small business into big business.
“As a financing partner, we are delighted to support NextGen in its acquisition of Condata,” Firmament principal Tedmond Wong said in a press release. “We feel strongly that the company is a highly attractive investment, as it operates in a niche transportation services space that is resilient amidst a variable traffic environment.
“We are excited to work with Dave [Newberry, newly appointed Condata CEO] and his team to continue growing the Condata business in the years ahead.”