|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
+1 914 834 4334
NEW YORK, January 19, 2016 - Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies, announced today its majority investment in BioreclamationIVT (“BioIVT”) in a recapitalization of the company.
Headquartered in Westbury, New York, BioIVT is the leading provider of biological and in vitro products to the pharmaceutical, diagnostic, and biotechnology organizations. BioIVT’s products are used in drug discovery, biomarker, toxicology, bioanalytical and ADME research. The company’s products and value added services enable its clients to significantly reduce the time and expense of bringing new drugs and diagnostics to market.
Stephen McLean, a Partner at Arsenal and co-head of the firm’s Healthcare group, said, “We are delighted to join management and Thompson Street to support continued growth of BioIVT. We look forward to extending the company’s leadership position in providing biological products necessary for efficient development of new drugs and diagnostics, especially targeted therapeutics.”
Arsenal was advised by Kirkland & Ellis. Golub Capital, the company’s existing lender, provided debt financing in support of the recapitalization.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation, and works closely with management to accelerate growth by leveraging the firm’s industry focus and operational improvement capabilities. Arsenal currently has $2.3 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.