Daily News: January 8, 2015

Fifth Street’s $175MM Financing Supports Ameritox Refi

Fifth Street Asset Management announced its affiliates, including Fifth Street Finance and Fifth Street Senior Floating Rate, have co-invested in a $175 million one-stop financing facility in connection with the refinancing of Ameritox by Sterling Partners.

The facility consists of a first lien term loan and a revolver. Fifth Street Management, FSC’s and FSFR’s investment adviser, served as lead arranger and administrative agent for the transaction.

Ameritox represents the Fifth Street platform’s seventh transaction with Sterling Partners, a growth-oriented private equity firm with approximately $5 billion of assets under management.

“Fifth Street’s flexibility and partnership approach throughout the Ameritox transaction process exemplifies why it continues to be a lender of choice for our firm,” said Garrick Rice, a managing director at Sterling Partners. “After gaining an appreciation for the business, Fifth Street was able to offer multiple capital structure alternatives and ultimately provide an attractive financing solution in support of the long-term growth of the company.”

“Ameritox is a true pioneer and leader in the pain management testing industry,” noted Sunny Khorana, managing director at Fifth Street. “We look forward to working with the company’s exceptional management team, our longstanding partner, Sterling Partners, Bain Capital Ventures, Sequoia Capital and other financial investors to support the business through its next phase of growth.”

Ameritox helped pioneer the prescription drug monitoring necessary to address the national epidemic of prescription drug misuse, abuse and diversion.