Daily News: March 1, 2013

Maranon Closes Mezzanine Investment in Young Innovations


Maranon Capital announced that it completed a mezzanine debt investment in Young Innovations to support affiliates of Linden Capital Partners in a publicto-private transaction valued at approximately $314 million.

Maranon was agent for the lenders who provided a $65 million mezzanine tranche. Maranon also co-invested preferred and common equity in the transaction alongside Linden.

St. Louis, MO-based Young Innovations develops, manufactures and markets both supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. In addition, Young Innovations offers a line of diagnostic products that includes panoramic X-ray machines and related supplies.

“We were attracted to the Young Innovations investment opportunity by the company’s excellent brand recognition and customer loyalty, its leading market share across a variety of products, and the recurring revenue stream associated with multiple categories of single use items,” remarked Demian Kircher, managing director and the lead partner for Maranon Capital on the transaction. “In addition, we are pleased to complete our first investment with Linden, a leading healthcare private equity firm, and an experienced investor in the dental products sector.”

Maranon Capital provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle-market transactions.

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries.