Oxford Finance closed a $87.5 million term loan and revolving line of credit to Tarrytown Expocare a closed-door long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities.
Funds are being used for the recapitalization of the business and future growth initiatives. Oxford is the sole lead arranger and administrative agent in this transaction with Sheridan Capital Partners as the lead equity investor in Tarrytown.
Tarrytown Expocare, founded in 2013 and headquartered in Austin, TX, is one of the largest long-term care pharmacies in the U.S. focused exclusively on the IDD population. Tarrytown has longstanding relationships with more than 1,900 group homes throughout the U.S.
“We chose to work with Oxford because of their deep knowledge of the healthcare sector,” said Mark Newberry, founder and chief executive officer of Tarrytown. “The team was highly responsive and able to quickly appreciate Tarrytown’s differentiated position in our underserved niche.”
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Sheridan Capital Partners is a Chicago-based healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada.
