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Golub Capital Provides Financing to Support Linden Capital Acquisition

February 06, 2015, 07:29 AM
Filed Under: Medical

Golub Capital announced as sole lead-arranger, sole bookrunner and administrative agent it provided a GOLD financing and co-investment equity to support the acquisition of Flexan Corporation by Linden Capital Partners. GOLD financings are Golub Capital's One-Loan Debt facilities.

Founded in 1946, Flexan is a leading global manufacturer of high-precision silicone and rubber parts predominately serving the medical device industry. The company is headquartered in Chicago and operates manufacturing facilities in the greater Chicago area and China. The company operates two distinct but complementary business units (FMI and Flexan). FMI delivers clean room manufactured silicone molded components for use in class II disposable and implantable class III medical products. Flexan is a custom molder whose expertise in molding difficult geometries and bonding rubber to metal has earned the company the reputation as an innovative problem solver across numerous attractive healthcare niches.

"As a leading contract manufacturer, Flexan has positioned itself to take advantage of OEM's focus on accelerating product development while streamlining costs, but it is also advantaged within its niche by having established manufacturing capabilities offshore," said Stefano Robertson, Managing Director and the head of Golub Capital's healthcare finance team.  "With their successful experiences in contract and private label manufacturing, as well as their stable of networked operating executives, Linden is very well positioned to help the Company achieve their growth objectives and we are thrilled to invest in this company alongside of them."

Michael Farah, a principal at Linden Capital Partners, said, "Golub provided a financing solution that offered certainty and efficiency to our process.  This is the second deal we've closed together in the last six months and our fifth overall.  We look forward to building on our strong and growing partnership."

Golub Capital's award winning middle market lending team structures financing solutions with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million.

Linden Capital Partners is Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries. Linden's strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle-market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare.

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