Square 1 Bank Announces $12.5MM NutraMed Facility
Square 1 Bank announced it provided a $12.5 million credit facility to NutraMed. Proceeds will be used in conjunction with an equity investment from Ampersand Capital Partners for acquisition financing and working capital.
Scott Foote, SVP in Square 1 Bank’s life science practice, added, “NutraMed’s vast customer base and continued growth make us excited to see what the future has in store for them. We look forward to growing our new partnership with NutraMed while also expanding our relationship with key investor Ampersand Capital Partners.”
“We are very pleased with the quality of service we have received from Square 1 thus far,” said Randy Weaver, CFO at NutraMed. “Scott and the team were able to provide us with a facility that catered specifically to the needs of our growing company.”
Trevor Wahlbrink of Ampersand commented, “Square 1 was able to quickly and efficiently fashion a facility appropriate for a company at this stage. Their experience supporting high growth, sponsor-backed companies has been instrumental.”
Chino, CA-based NutraMed offers full-service contract manufacturing of vitamins and nutritional supplements, including bottling, labeling and specialized packaging.