Daily News: February 27, 2018

Varagon Supports L Squared United Scope Investment

Varagon Capital Partners provided debt financing to support L Squared Capital Partners’ investment in United Scope, resulting in a majority recapitalization of the latter’s business.

United Scope represents L Squared’s seventh platform investment over the last three years. Financial terms of the transaction were not disclosed.

Paul Hastings served as legal counsel to L Squared. Keystone Capital Markets served as financial advisor and Dentons served as legal counsel to United Scope.

Varagon is an asset manager forcused exclusively on the middle market and has lent more than $5.5 billion since inception.

L Squared Capital Partners is an investment firm with offices in Newport Beach, CA, and Chicago which seeks to make long-term investments in leading growth companies that operate in the following, targeted sectors: tech-enabled services and software, industrial technology and services, and education technology.

Headquartered in Irvine, CA, United Scope provides microscopes and related accessories to a range of end markets including the education sector, life sciences and other scientific research fields, as well as various industrial inspection applications.