Crown Partners arranged $30 million of senior financing from a U.S. commercial bank for HGS BioScience, a portfolio company of Paine Schwartz Partners. The firm served as exclusive financial advisor to HGS in connection with this transaction.
Crown was chosen for its specialized expertise in the asset-based financing market, which allowed HGS to access efficient low-cost growth capital by leveraging its asset base. Crown simultaneously arranged a revolving credit facility and equipment and IP term loan to maximize liquidity generated by the transaction.
“The Crown team proved incredibly valuable in advising us on our strategy for approaching the asset-based financing market to best serve HGS’s business plan, balancing flexibility, cost and long-term partnership,” John Novak, head of investment development and capital markets at Paine Schwartz Partners, said. “I appreciate the Crown’s team rigor and attention to detail regarding each step of our capital raising process.”
“Crown congratulates HGS on closing this senior financing as it executes on its growth plan,” Mark Seigel and Evan Nadler jointly said. “We appreciate the opportunity to work with the PSP and HGS deal teams in accessing the bank asset-based financing market, to produce a robust solution that supports its growth on a capital efficient basis.”
