NSight

Read-onlySigned in as demo@nsight.app

As of 10 Oct 2026 · demonstration dates

Portfolio reports show the current active book. Closed and archived borrowers, including their history, are available in All Borrowers.

Quarterly Brief

Portfolio review — Q3 2025

Reporting quarter

Financials received: 7/7 companies. Marks received: 7/11 positions. Current status and commitments are not historical snapshots.

Portfolio Health Assessment

The NSight Demo portfolio comprises 7 companies with aggregate commitments of $110.0M. Fair value known for this quarter: $88.6M (coverage incomplete). Period change unavailable without complete marks for both quarters.

3 performing, 3 on watch, 1 impaired. 0 active covenant breaches in Q3 2025.

🚨 Attention Required

🔴

Havenmark Logistics Group — impaired.

3 covenants not tested, credit mark 99% of par, PIK active, revolver 80% drawn

Recommend: IC review for restructuring

🟡

BluePeak Healthcare Solutions — on watch list.

3 covenants not tested, credit mark 98% of par

Recommend: Enhanced monitoring

🟡

Grainmoor Food Distribution — on watch list.

3 covenants not tested, credit mark 100% of par

Recommend: Enhanced monitoring

🟡

Kilnbrace Specialty Products — on watch list.

2 covenants not tested, credit mark 100% of par

Recommend: Enhanced monitoring

Covenant calculation and review coverage

BluePeak Healthcare Solutions

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

BluePeak Healthcare Solutions

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 1.4x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

BluePeak Healthcare Solutions

Minimum LTM EBITDA ($M)

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ $21M
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Brakeholt Engineered Products Co.

Total leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: Unavailable
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No retained contractual calculation for this quarter.

Brakeholt Engineered Products Co.

Senior leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: Unavailable
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No retained contractual calculation for this quarter.

Brakeholt Engineered Products Co.

Minimum LTM EBITDA

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: Unavailable
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No retained contractual calculation for this quarter.

Brakeholt Engineered Products Co.

Interest coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: Unavailable
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No retained contractual calculation for this quarter.

Brakeholt Engineered Products Co.

Fixed charge coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: Unavailable
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No retained contractual calculation for this quarter.

Grainmoor Food Distribution

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 3.5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Grainmoor Food Distribution

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 2.5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Grainmoor Food Distribution

Minimum LTM EBITDA ($M)

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ $22M
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Havenmark Logistics Group

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 4.5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Havenmark Logistics Group

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 1.84x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Havenmark Logistics Group

Minimum LTM EBITDA ($M)

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ $26M
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Kilnbrace Specialty Products

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 4x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Kilnbrace Specialty Products

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 2.5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Meridian Industrial Services

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 4x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Meridian Industrial Services

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 2.4x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Meridian Industrial Services

Minimum LTM EBITDA ($M)

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ $28M
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Summit Software Holdings

Total Leverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≤ 5.5x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Summit Software Holdings

Interest Coverage

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ 1.76x
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Summit Software Holdings

Minimum LTM Revenue ($M)

Not tested

Not verified · Not independently verified

Actual: Unavailable
Reported: Not supplied
Governing threshold: ≥ $48M
Reconciliation: Unable to verify
Review: Not reviewed · Needs review

No supplied actual for this quarter.

Portfolio Metrics

Company	Quarter revenue	Rev Δ	LTM EBITDA (unadjusted)	LTM margin	LTM leverage	Known fair value / coverage	% of Par
BluePeak Healthcare Solutions	$28.4M	—	—	—	Unavailable	$21.5M · 1/1	98%
Brakeholt Engineered Products Co.	$20.0M	—	—	—	Unavailable	— · 0/1	—
Grainmoor Food Distribution	$52.3M	—	—	—	Unavailable	$12.0M · 1/1	100%
Havenmark Logistics Group	$38.5M	—	—	—	Unavailable	$13.8M · 1/2	—
Kilnbrace Specialty Products	$21.4M	—	—	—	Unavailable	$7.5M · 2/2	100%
Meridian Industrial Services	$42.1M	—	—	—	Unavailable	$17.8M · 1/2	—
Summit Software Holdings	$12.8M	—	—	—	Unavailable	$16.0M · 1/2	—

Portfolio Observations

Quarterly EBITDA trends and entered covenant results

1. Concentration risk: 4 of 7 companies (57%) are on the watch list: BluePeak Healthcare Solutions, Grainmoor Food Distribution, Havenmark Logistics Group, Kilnbrace Specialty Products.

Generated by NSight — NSigma Intelligence · Based on Q3 2025 borrower financials