Excedr, a provider of full-service laboratory equipment leasing solutions for the life sciences and healthcare industries, closed $25 million in growth capital. The round includes a $17 million senior credit facility from BOK Financial and $8 million in equity from existing investors and a group of global single-family offices with extensive experience in biopharma, lab services and specialty finance.
The new credit facility, provided by BOK Financial, consists of a revolving line of credit and term loan structured to support the continued expansion of Excedr’s equipment leasing portfolio. The BOK facility and additional equity position Excedr to capitalize on increasing demand for flexible, non-dilutive financing solutions across the life sciences ecosystem.
“We are excited to partner with Excedr to support its next phase of growth,” Reed Upson, senior vice president, asset-based lending at BOK Financial, said. “Excedr has built a highly differentiated platform, serving a diverse and high-quality customer base across the life sciences industry. Their strong OEM relationships, disciplined underwriting approach and track record of performance position the company well for continued expansion.”
Jon Chee, co-founder and CEO of Excedr, added, “Securing this growth capital marks an important milestone for Excedr. BOK Financial’s flexible credit solution, together with the support of our existing and new investors, enables us to expand our equipment portfolio, deepen our OEM partnerships and further invest in our platform so that more scientists can access mission-critical equipment without tying up equity or working capital. This in turn helps improve patient outcomes across the life sciences and healthcare ecosystem.”
