CVC Credit Partners provided a $92 million multicurrency first lien credit facility to Calibre Scientific, a life sciences and diagnostics business owned by StoneCalibre.
Calibre Scientific will use the funding provided by CVC Credit to refinance an existing debt facility and to support the company’s global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.
“We are happy to have completed the refinancing of the business and secured financing to continue to execute our acquisition growth strategy. This strong foundation will allow us to progress with our next phase of development,” Dr. Benjamin Travis, CEO of Calibre Scientific, said.
Founded in 2013, Calibre Scientific is a developer, manufacturer and distributor of consumable products in the life sciences and diagnostics markets. Since inception, the business has expanded through a combination of growth and acquisitions, and today has a portfolio of more than 3,000 products, which it sells into more than 100 countries worldwide. Calibre Scientific’s more than 6,000 customers include biopharmaceutical companies, academic institutions and diagnostics companies.
“We are pleased to bring CVC Credit Partners onboard,” Brian Wall, founder and CEO of StoneCalibre, said. “Their ability to quickly understand the dynamics of the market and Calibre Scientific’s operating model was impressive, while their experience in supporting international growth strategies convinced us that they will have a key role to play going forward.”
“We’re excited to support a company delivering high societal impact and one whose mission is as critical as ever,” Andrew Eversfield, director of CVC Credit Partners’ U.S. private debt business, said. “Calibre Scientific is an established player in a growing market. It has a broad portfolio of leading brands and a loyal and highly diverse customer base. We look forward to partnering with StoneCalibre and helping to write future chapters of the Calibre Scientific story.”
CVC Credit Partners is the credit management business of CVC. CVC Credit Partners is a global credit asset manager.
StoneCalibre is a privately funded investment firm specializing in the acquisition of lower middle market companies.
