Webster Bank provided $18 million in senior credit facilities to Edison, NJ-based Bentley Laboratories, an outsource manufacturer of products for the beauty and pharmaceutical industries, in support of Bentley’s recapitalization and acquisition growth strategy.

Proceeds of the financing were used to refinance existing debt, fund an add-on acquisition and provide general working capital. The senior facilities included a delayed draw tranche to fund future add-on acquisitions. Webster Bank partnered with a middle market private equity firm, which provided redeemable preferred stock and mezzanine notes in support of the recapitalization and add-on acquisition.

“Webster Bank’s keen understanding of our business, industry expertise, and ability to craft a flexible financing solution that fit our business well made them a clear choice as a long-term partner who we could depend on to execute our ambitious growth strategy,” said Brian Fitzpatrick, founder and chief executive officer of Bentley.

“We are delighted to partner with Bentley to support this important transaction and its continued growth, as it further demonstrates our commitment to provide innovative financing solutions and banking services to our core Middle Market clients,” said Abby Parsonnet, New York regional president, Webster Bank.

Since its launch three years ago, Webster’s Metro New York commercial banking team has grown a portfolio of 35 client relationships representing more than $400 million in committed capital for middle market companies across diverse industries.