The Firmament Group Invests In Condata Global, Inc.
NEW YORK, Oct. 10, 2018 /PRNewswire/ -- The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today an investment in Condata Global Inc. ("Condata" or the "Company"). Condata is a leading provider of freight post audit and recovery services. Headquartered in Mokena, IL, the Company serves Fortune 500 companies that ship a variety of products both domestically and internationally.
As a provider of bespoke capital solutions, Firmament provided debt financing as part of the purchase of the Company by NextGen Growth Partners ("NextGen"), a Chicago-based private investment firm that partners with entrepreneurs to acquire and grow small businesses. Specific terms of the transaction were not disclosed.
Concurrent with the closing of the transaction, NextGen named Dave Newberry CEO of the Company. "The Condata team is very excited to partner with NextGen and Firmament given their operational expertise and experience in the transportation and logistics space. We look forward to growing our business with their support, while continuing to deliver best-in-class service to customers."
Tedmond Wong, Principal at Firmament, added, "as a financing partner, we are delighted to support NextGen in its acquisition of Condata. 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 and his team to continue growing the Condata business in the years ahead."
About Condata Global Inc.
Condata Global Inc. (www.condataglobal.com/index.html) is a leading provider of freight post audit and recovery services serving customers globally. The majority of its clients are Fortune 500 companies and the scope of freight audit service includes all domestic and international shipments. Condata performs US domestic freight audits as well as intra-European, intra-Asian, and intra-Latin American audits for clients. The Company provides unparalleled expertise in all transportation modes where its industry leading audit staff utilize its state-of-the-art technology to perform audits.
About NextGen Growth Partners
Headquartered in the West Loop neighborhood of Chicago, NextGen Growth Partners (www.nextgengp.com) is a private investment firm that partners with the best and brightest entrepreneurial talent to acquire, operate and grow lower middle market businesses across a variety of industries. The team has a strong track record of creating value through growth and operational improvement in middle market businesses.
About The Firmament Group
Established in 2012, The Firmament Group (www.thefirmamentgroup.com), formerly known as McLarty Capital Partners, provides tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs). Firmament is a value-added partner to entrepreneurs, management teams and business owners and provides solutions by deploying versatile capital in a user-friendly way. Firmament seeks both senior and junior debt capital opportunities including unitranche, second lien and mezzanine debt, and also provides equity capital structured as either preferred or common equity. Firmament is focused on turning small business into big business.
Media Contact:
Allie Reitman
[email protected]
212-314-0165
SOURCE The Firmament Group
Related Links
http://www.thefirmamentgroup.com/
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article