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Golub Capital Provides Financing in Gryphon’s Acquisition of C.B. Fleet Company

October 28, 2014, 07:59 AM
Filed Under: Consumer Products

Golub Capital announced that as sole lead arranger and administrative agent, it provided a senior credit facility to support the acquisition of C.B. Fleet Company, Inc. d/b/a Fleet Laboratories ("Fleet Laboratories" or "the Company") by Gryphon Investors ("Gryphon") along with several minority investors. This marks Golub Capital's fourth transaction with Gryphon.

Founded in 1869, Fleet Laboratories manufactures and markets a portfolio of leading over-the-counter ("OTC") branded health and personal care products in the feminine hygiene, gastrointestinal and infant care categories.

"Fleet Laboratories is a unique and attractive platform in the OTC health and personal care market due to its scale, established infrastructure, and portfolio of well-established, trusted, and widely recognized brands," said Spyro Alexopoulos, Managing Director at Golub Capital. "Gryphon and management have proven brand building capabilities and we are excited to partner with them to continue to grow the business."

"This is our fourth transaction with Golub Capital in the past four years and it continues to be a strong relationship," said Dorian Faust, Managing Director at Gryphon. "Golub's reliability, flexibility and ease of execution were all differentiating factors in our choice of a credit provider to lead the senior debt financing of this transaction and they delivered. We look forward to continuing our partnership through the life of this investment as we make accretive acquisitions of attractive OTC brands."   

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. Golub Capital has been #1 in 5 out of the past 6 years from 2009 through 1H 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).

Based in San Francisco, Gryphon Investors focuses on leveraged acquisitions of, and growth investments in, middle-market companies in partnership with experienced management teams. With more than $1.4 billion of cumulative equity commitments, Gryphon has an extensive track record of investing up to $100 million of its committed capital per investment in companies with sales ranging from approximately $100 to $500 million.

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