Specialty finance firm Oxford Finance closed a senior credit facility and revolving line of credit to ThermoTek, a designer and manufacturer of temperature management devices.
The proceeds will partially fund the acquisition of ThermoTek by Havencrest Capital Management, a Dallas-based healthcare private equity firm. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
“ThermoTek has developed a strong reputation for precision thermoelectric engineering capabilities and high-quality products among its existing customers,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “With its deep network of operating advisors, we anticipate Havencrest successfully building upon the company’s long track record of developing innovative medical and industrial devices.”
“We are excited to invest in ThermoTek and accelerate growth by launching new product lines, expanding into adjacent medical and industrial markets, and acquiring complementary companies,” Matt Shofner, partner at Havencrest, said. “We are pleased to have Oxford as our financing partner to support us for the company’s next phase of growth.”
