Daily News: January 8, 2019

Twin Brook Reaches $2B+ in Commitments for Middle Market Healthcare Deals


Twin Brook Capital Partners, the middle-market direct lending subsidiary of Angelo Gordon, has, since 2014, committed over $2 billion to private equity sponsors in support of healthcare sector transactions in the middle market.

In 2018 alone, Twin Brook committed over $1 billion and closed on 30 healthcare transactions, bringing the firm’s total number of healthcare transactions to more than 80 since inception.

“We are pleased to build upon our success and expertise in healthcare by deploying over $1 billion to transactions in the sector in 2018. Last year’s landmark lending illustrates our ongoing commitment to supporting our private equity sponsor clients investing in U.S. middle-market healthcare companies,” said Faraaz Kamran, a Twin Brook Partner focused on the firm’s Healthcare Lending business. “We are seeing an increased appetite for this sector by our private equity sponsor clients, and look forward to putting more capital to work in support of their transactions in 2019, and for years to come.”

In 2018, Twin Brook served as lead agent on nearly all healthcare transactions it supported, which included 15 new platform financings and 14 add-on financings.

Other highlights include:

  • Serving as administrative agent and sole lead arranger on a $122 million financing that supported Vistria Group’s leveraged buyout of Rock Dental Brands, an operator of orthodontic, pediatric dental, oral surgery and general dental clinics in Arkansas and Missouri
  • Serving as administrative agent and sole lead arranger on a $105 million financing that supported Linden Capital Partners’ acquisition of Solara Medical Supplies, a home delivery company for medical devices and disposable medical products for diabetic patients
  • Serving as administrative agent on $56 million in financing to support Varsity Healthcare Partners’ recapitalization of Probo Medical, a provider of new, used and refurbished medical equipment to a global customer base

Established in the fourth quarter of 2014, Twin Brook Capital Partners is a finance company focused on providing cash-flow based financing solutions for the middle-market private equity community.