Calibre Scientific Partners with CVC Credit Partners to Refinance Its Credit Facility and Provide Support of Next Phase of Growth
LOS ANGELES, CA (June 22, 2020) – Funding by CVC Credit Partners will support the business’s buy-and-build growth strategy
Calibre Scientific (the “Company”), the life sciences and diagnostics business backed by StoneCalibre, is pleased to announce that it has closed a $92 million multicurrency facility with CVC Credit Partners (“CVC Credit”). Funding provided by CVC Credit will be used to refinance the existing debt facility and to support the Company’s global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.
Founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life sciences and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific’s 6,000+ customers include blue-chip biopharmaceutical companies, leading academic institutions and diagnostics companies.
Dr. Benjamin Travis, CEO of Calibre Scientific, commented: “We are happy to have completed the refinancing of the business and secured financing to continue to execute our acquisition growth strategy. This strong foundation will allow us to progress with our next phase of development.”
Brian Wall, Founder and CEO of StoneCalibre, added: "We are pleased to bring CVC Credit Partners onboard. Their ability to quickly understand the dynamics of the market and Calibre Scientific’s operating model was impressive, while their experience in supporting international growth strategies convinced us that they will have a key role to play going forward.”
Andrew Eversfield, Director of CVC Credit Partners' U.S. Private Debt business, said: “We’re excited to support a company delivering high societal impact and one whose mission is as critical as ever. Calibre Scientific is an established player in a growing market. It has a broad portfolio of leading brands and a loyal and highly diverse customer base. We look forward to partnering with StoneCalibre and helping to write future chapters of the Calibre Scientific story.”
About StoneCalibre
Headquartered in Los Angeles, CA, StoneCalibre is a privately funded investment firm specializing in the acquisition of lower middle market companies. Founded by Brian Wall in 2012, StoneCalibre is focused on making investments in both special situations and quality long-term capital investment opportunities. For more information please visit our website at www.stonecalibre.com.
About CVC Credit Partners
CVC Credit Partners is the credit management business of CVC. CVC Credit Partners is a global credit asset manager with offices in the U.S. and Europe, 60 investment professionals and US$26 billion assets under management, as at 31 March 2020. CVC Credit Partners seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle. CVC Credit Partners has built a diverse platform which creates significant synergies across its three investment strategies: Performing Credit, Credit Opportunities & Special Situations and Private Debt. For further information about CVC Credit Partners please visit: www.cvc.com/credit.
