Siena Lending Group closed a $40 million credit facility with Pharmachem Innovations. The five-year credit facility was used to finance the acquisition of Pharmachem by Turnspire Capital Partners and to provide additional working capital for the company’s growth.
“Siena is a great partner who understands the complexities of corporate carve-outs, and they employed a very constructive approach to complete the acquisition,” Ahdiv Nathan, vice president at Turnspire, said. “Siena not only executed and delivered on this transaction but was also extremely professional and a pleasure to work with throughout the process.”
“Pharmachem is a great acquisition for Turnspire,” Stephen Fuscaldo, managing director at Siena, said. “Turnspire is a hands-on sponsor who excels in corporate carve-out acquisitions and provides tremendous support for their portfolio companies. We look forward to working with both Pharmachem and Turnspire as they continue to execute on their growth strategy.”
