NEW YORK, Sept. 23, 2025 /PRNewswire/ -- Backcast Partners ("Backcast"), a leading provider of debt and equity capital for middle-market companies, is pleased to announce its most recent investment supporting the acquisition of Nomlas Ventures Inc. ("Busmax" or the "Company") by Seneca Partners ("Seneca"), a leading independent financial sponsor. Backcast structured and agented Busmax's senior secured debt with warrants.

Established in 1981 and headquartered in Rome, Georgia, Busmax is a leading passenger bus, van, and car rental business that operates out of the Southeast region of the U.S. Busmax has been owned by the Salmon family for over 40 years, and the Salmons will retain an ownership stake in the Company going forward.

Michael Skaff, Managing Director at Seneca, commented "The Backcast team demonstrated discerning analysis, creative structuring and a resolute commitment to completing this transaction throughout this process. Their collaborative partnership approach made them a valued resource, not only in structuring this transaction but in understanding the long-term strategic objectives to what we believe will be a transformative growth strategy. This is the second investment that we've closed with the Backcast team, and we look forward to working with them on future investments."

Mark Gudis, Managing Partner at Backcast, added "Our investment in Busmax is centered around the Company's dominant market position, its compelling reason to exist for its customers, the differentiated operating model and reputation that the Salmon family has built over decades, and our comfort in the expertise that Seneca and their operating partners will bring to enhance long-term value. With a strong track record of growing lower-middle market businesses and an existing portfolio totaling 14 current platform investments, we consider Seneca to be one of the pre-eminent independent financial sponsors in the United States."

Backcast was represented in the transaction by Greenberg Traurig.

About Backcast Partners

Backcast Partners, formed in 2016, manages value-additive, credit-focused private investment funds providing capital to both private-equity backed and privately held management-owned companies. With approximately $1.4 billion in assets under management, the Backcast team has been supporting traditional middle-market companies ($7.5 million to $50 million of EBITDA) for decades. Backcast's managed funds have a very flexible capital mandate and seek to invest from $20 million to up to $150 million per transaction. Backcast Partners operates out of offices in New York City and Millburn, NJ.

Information for companies seeking capital, please contact:

Mark Gudis, Managing Partner

[email protected]

(973) 512-7487

www.backcastpartners.com

Investor information, please contact:

David Petrucco, Managing Partner

[email protected]

(973) 512-7482

www.backcastpartners.com

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SOURCE Backcast Partners