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Golub Capital Provides Credit Facility to Support Data Innovations’ Recap

May 05, 2014, 07:46 AM
Filed Under: Medical

Golub Capital announced that as sole bookrunner and administrative agent, it provided a senior credit facility to support the recapitalization of Data Innovations LLC ("DI") by Battery Ventures.

Founded in 1989, DI is the world's largest, most successful clinical and blood laboratory middleware company. With a focus solely on laboratory data management, DI offers the most complete middleware system in the market to manage laboratory operations, including pre-analytical, analytical, and post-analytical sample processing and non-clinical tasks such as equipment maintenance and specimen archiving. With offices in the United States, Belgium, Brazil, China, France, and the United Kingdom, DI is the only middleware company with a true global scope.

"Consistent with our past experiences, Golub's deep understanding of the software and technology services industry, ability to offer value-added financing solutions across the capital structure, and efficient execution led to a smooth closing. We look forward to closing additional transactions with Golub in the future," said Chelsea Stoner, a General Partner at Battery Ventures.

"With their strong market leadership, differentiated products, and excellent management team, Data Innovations is well positioned to capitalize on the attractive market dynamics within the laboratory middleware industry," stated Andy Steuerman, Head of Middle Market Lending at Golub Capital. "We are excited to partner with this exceptional company and sponsor."

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.

Battery invests in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel.

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