CVC Marathon's $175M loan creates national rental firm Rentix
What's the deal? New York-based CVC Marathon has provided a $175 million five-year secured loan to finance Jack Doheny CompaniesDealroom has a profile for this one. Try Dealroom →' acquisition of Vacuum Truck RentalsDealroom has a profile for this one. Try Dealroom →. The combination creates Rentix SolutionsDealroom has a profile for this one. Try Dealroom →, a nationwide infrastructure equipment rental company.
What's Rentix building? The merged company operates a fleet of more than 3,200 vehicles and machines used for essential infrastructure work, including sewer maintenance, utility repairs, and industrial facility operations.
Who's involved? CVC Marathon worked with private equity firm Kinderhook IndustriesDealroom has a profile for this one. Try Dealroom → and the owners of Vacuum Truck Rentals to complete the deal. Formerly Marathon Asset ManagementDealroom has a profile for this one. Try Dealroom →, the firm became CVC Marathon after European investment firm CVCDealroom has a profile for this one. Try Dealroom → acquired it, and it now manages $24 billion in assets across public and private credit.
Why now? The financing shows alternative lenders funding middle-market acquisitions once dominated by traditional banks. Private lenders can often move faster and structure deals around a company's specific needs, according to a Morgan StanleyDealroom has a profile for this one. Try Dealroom → report.
In their words: "We are pleased to partner with Rentix and the ownership team to provide a bespoke capital solution to the nation's leading provider of mission-critical, highly-specialized equipment," said Randy Raisman, head of US Opportunistic Credit at CVC Marathon.
The signal: Private credit firms have become a leading source of financing for US middle-market infrastructure acquisitions, driven by federal infrastructure spending and tighter bank lending. The market has expanded from roughly $2 trillion in 2020 to about $3 trillion at the start of 2025, with forecasts pointing to $5 trillion by 2029.
Read more: citybiz
