NXT Capital said it provided a US$71m senior secured facility to Oakley Capital Private Equity for its acquisition of the North Technology Group. Oakley announced the acquisition from the Windway Group on 3 March.

North Technology Group, which manufactures and markets sails, spars and rigging, operates 147 sites in 63 countries. It also consists of a design division as well as Edgewater Powerboats. The statement said the Group had sales of US$157m in 2013, adding that the total enterprise value of the business was US$131m.

The company added that the consideration was funded by an equity investment of US$62m, with an equity reinvestment by Windway Capital Corp. NXT and Credit Suisse provided the acquisition financing.

NXT Capital said it provides “structured financing solutions” to middle-market companies and real estate investors. It targets senior financing opportunities up to US$150m.

London-based Oakley Capital has over €750m under management. “Oakley’s investment will assist North Technology Group’s management team in growing and further developing the North Sails brand to ensure the Group remains at the forefront of technology for marine industry products,” said the statement.