Midcap Business Credit closed a $5 million revolving credit facility for Appco Pharma.
The facility was used to provide additional liquidity and support the company’s growth plans and working capital needs.
Appco is a privately owned and operated, full-service, pharmaceutical CDMO established in 2012 and headquartered in Somerset, NJ. Appco specializes in developing and manufacturing complex drugs including dosage forms like oral tablets, oral capsules, oral and topical solutions, and oral suspensions
The opportunity was originated in MidCap’s regional office in Baltimore.
We are excited to work with the Appco management team. We were able to deliver a credit facility with a flexible structure that will allow them to address their current financing needs as well as meet their future financial objectives. We also want to thank Able Global Partners who was the Intermediary on the transaction,” said Bruce Pavesich, senior vice president of MidCap Business Credit.
