Golub Capital Provides One-Loan Debt Facility To Finance Acquisition Of California Cryobank By Longitude Capital And NovaQuest Capital
NEW YORK, Aug. 20, 2014 /PRNewswire/ -- Golub Capital announced today that as Sole Lead Arranger and Administrative Agent it provided a GOLD financing to support the acquisition of California Cryobank Inc. ("CCB" or the "Company") by Longitude Venture Partners II, L.P. ("Longitude") and NovaQuest Pharma Opportunities Fund III, L.P. ("NovaQuest"). GOLD financings are Golub Capital's One-Loan Debt facilities.
Headquartered in Los Angeles, CA, California Cryobank Inc. ("CCB" or the "Company") has built a strong, global presence in both fertility and cellular therapy, two of the most important and fastest-growing areas in healthcare.
"With its leading market position, differentiated value proposition, and best-in-class leadership team, CCB is well-positioned to capitalize on the attractive growth opportunities within reproductive tissue donor services and storage and stem cell banking," stated Jonathan Pearl, Principal at Golub Capital. "We are excited to support the Company's growth and partner again with Longitude and NovaQuest and the management team at CCB."
"Golub Capital brought unique value to the transaction by tailoring its financing solution to meet CCB's growth plan," said Dr. Gregory Grunberg, Managing Director at Longitude. "We appreciated their solution-oriented approach."
"Consistent with our prior experience, Golub has proven again to be a reliable partner," added William Robb, Partner at NovaQuest.
About Golub Capital
With over $10 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm's proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $300 million. Golub Capital's hold sizes range up to $200 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 1Q 2014 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). Year to date 2014, Golub Capital has been awarded Acquisition International's 2014 Fund Awards "Credit Asset Management Firm of the Year – USA," ACQ's Global Awards "US Credit Asset Manager of the Year," Acquisition International's "Broadly Syndicated Loans Specialist of the Year – USA," and Acquisition International's Hedge Fund Award "USA Credit Asset Manager of the Year." In 2013, Golub Capital was awarded Finance Monthly's Global Awards 2013 "Credit Asset Manager of the Year" and DealMakers M&A Awards 2013 "Middle Market Lender of the Year." Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm's website at www.golubcapital.com.
About Longitude Capital
Longitude Capital is a private investment firm that focuses on venture growth investments in leading healthcare companies. Founded in 2006, Longitude has offices in Menlo Park, CA and Greenwich, CT. The firm builds balanced healthcare portfolios focused on creating value in special situations, including acquisitions, spin outs, PIPEs, and structured transactions, as well as traditional venture and growth equity. Longitude most recently raised $385 million for its second fund, Longitude Venture Partners II, L.P., in 2012. For more information about Longitude Capital and its portfolio of investments, please visit www.longitudecapital.com.
About NovaQuest Capital Management
NovaQuest Capital Management ("NovaQuest") is an independent investment firm which manages product and company investments in the global healthcare industry. The NovaQuest team has worked together for over 14 years, investing over $1 billion into the global healthcare industry. NovaQuest focuses on product finance investments with global biopharmaceutical companies in strategic, late-stage clinical and commercialized assets. These customized, product transactions are an alternative to standard biopharmaceutical industry deal-making and help companies maximize the value of their asset portfolios. In addition, NovaQuest invests in select private equity and other company securities, with a consistent focus on late-stage clinical and commercialized products. For more information, visit www.novaquest.com
SOURCE Golub Capital