Daily News: May 5, 2014

Golub Capital Provides Credit Facility for Data Innovations

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

DI is a clinical and blood laboratory middleware company founded in 1989. 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. DI has offices in the United States, Belgium, Brazil, China, France and the United Kingdom.

“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.”