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PNC Business Credit Provides Financing in Linden’s Acquisition of Merical

October 04, 2016, 07:44 AM
Filed Under: Nutritional Products

Linden Capital Partners, a Chicago-based healthcare private equity firm, announced that it has completed the acquisition of Merical Inc. Headquartered in Orange, California, Merical is an industry-leading developer, manufacturer, and packager of probiotic and other nutritional supplements. PNC Business Credit and certain private and public debt funds managed by THL Credit Advisors LLC provided financing for the transaction.

Founded in 1965, the company's approximately 400 employees across several facilities provide value-added research and development, manufacturing and packaging services to many of the world's most recognized retailers and nutritional supplement brands.

"Linden looks forward to building upon Merical's excellent platform in probiotics, one of the highest-growth subsectors of nutrition and digestive health" said Linden Managing Partner Brian Miller. The Merical investment continues Linden's subsector-driven strategy, representing its third contract manufacturing sector investment, after Ranir and Flexan.

Kirkland & Ellis LLP served as legal advisors to Linden. GulfStar Group and Payne & Fears LLP served as financial and legal advisors to Merical.

Merical is a recognized industry leader in the production and packaging of high-quality nutritional supplement products. Founded in 1965, the Company provides value-added contract manufacturing and custom bottling and packaging services, along with a broad range of laboratory support services to several of the most recognized retailers and nutritional supplement brands in the industry.

Linden Capital Partners is a 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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