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October 18, 2018 4:30 PM, EDT

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.

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.”