MidCap Financial announced it has provided a senior secured credit facility and equity co-invest to LB GTMA Opco LLC (dba “Core Equipment Group” or the “Company”). Proceeds from the credit facility were used to finance the acquisition of the GT Mid Atlantic, a premier heavy equipment dealer.

CORE is owned and backed by LB Advisors, a Santa Monica, California-based private equity firm specializing in middle-market companies. “The strong financial backing from our ABL lender MidCap Financial enabled a successful acquisition and we look forward to the partnership,” added Russell Belinsky, Co-Founder of LB Advisors.

"The 68 year history of GT Mid Atlantic coupled with the growth opportunities ahead makes this an exciting one," said Bianca Barredo, Head of Enterprise ABL at MidCap Financial. "The transaction is yet another example of MidCap Financial's ability to partner with private equity to offer a comprehensive financing solution.