Aegis Sciences, a portfolio company of private equity firm Abry Partners and a national healthcare and forensic toxicology laboratory, completed a $170 million debt refinancing, advised by CoveView Advisors. In addition to contributions from new debt investors led by Kayne Anderson, Abry Partners is providing incremental growth equity capital to support Aegis’s ambitious expansion plans. As part of the transaction, Aegis also retains an undrawn revolving credit facility which will be used to finance future growth investments.
“We appreciate the tremendous support from both existing and new investors as we successfully close this important financing for the company,” Frank Basile, CEO of Aegis, said. “Aegis’s track record of product leadership, strong organic growth and accelerating operational efficiency places us in a strong position to fully leverage our best-in-class platform in what remains a highly fragmented sector.”
“We are thrilled to extend our long-standing partnership with Frank and the entire Aegis team to continue to grow the company to unprecedented levels,” Rob MacInnis of Abry Partners said.
The refinancing was a scheduled event, prompted by the maturity of the company’s prior credit facility.
