Crestline Direct Lending acted as administrative agent and joint lead arranger on a senior secured credit facility for Schweiger Dermatology Group (SDG).
Founded in 2010, SDG is a provider of dermatology services which has continued to grow both organically and through acquisitions and has built a multi-site platform of more than 45 locations with strong regional density scale, and brand awareness. Additionally, the company has made significant, advanced investments across its organization in order to support strong and sustainable future growth.
It is a portfolio company of LNK Partners, LLR Partners and SV Health Investors.
The facility will be used to pursue a multi-faceted growth strategy consisting of acquisitions and newly-built locations, supporting SDG’s rapid expansion in the northeast United States. SDG plans to continue increasing its footprint within its current geography, as well as enter new markets.
“We decided to work with Crestline’s Direct Lending team due to their deep experience in lending to multi-site healthcare businesses, as well as their ability to provide a flexible credit facility enabling us to increase our pace of acquisitions,” said Dr. Eric Schweiger, CEO of Schweiger Dermatology Group.
“We are excited to be SDG’s financing partner and look forward to working with the Schweiger team as the company continues to expand its geographic footprint,” said Jonathan Ben-Horin, managing director at Crestline Investors.
Crestline Direct Lending provides $20 million to $100 million senior secured, unitranche and second lien financings to lower-middle and middle market companies in North America and Europe. It is part of Fort Worth-TX-based Crestline Investors.