Amalgamated
Capital Leads Senior Financing for Lineage
Capital's Investment
in Bioreclamation, Inc.
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NEW YORK, NY, March 9, 2010 -
Amalgamated Capital (AmalCap),
a recently formed division of Amalgamated Bank, announced today that it served
as Lead Arranger and Administrative Agent for a $12.5 million senior secured
credit facility to support growth and acquisitions in connection with the recapitalization
of Bioreclamation, Inc. by management and Lineage Capital, LLC. AmalCap provides senior cash flow financings to facilitate investments
made by private equity sponsors in high quality, lower middle market companies.
Long Island-based Bioreclamation is a
worldwide provider of biological research materials to life science and
pharmaceutical companies. Lineage
Capital is a Boston-based private equity partnership with $160 million of
capital under management.
"This transaction is a great example of the type of
relationship we value," said Timothy Clifford, Executive Vice President and
Head of Amalgamated Capital. "Our team has worked with Lineage in the past, and
together we were able to put together a financing that met their needs, as well
as those of Bioreclamation. The success
of the transaction was really driven by our team's ability to understand
Bioreclamation's business and to move quickly to arrange a facility that met
their objectives."
"Amalgamated Capital proved to be a flexible and dependable
partner," said Kenneth Gatz, Co-Chief Executive Officer of Bioreclamation. "Their
team was great to work with, and they grasped the essentials of our business
quickly. Based on their work to date,
we're very confident AmalCap is the right financing partner for us as we move
forward."
"It was a pleasure once
again to work with Tim and his team," commented T. Brook Parker, a founding partner
at Lineage Capital. "As in the past,
they displayed great flexibility in working with us to tailor a financing
structure that met our needs. They did a
terrific job and we recommend them highly."
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About Bioreclamation
Bioreclamation, Inc., based in
Westbury, NY, is a worldwide provider of biological products to life science
and pharmaceutical companies. It specializes in control and disease state
matrices, which are used in drug discovery, compound development, clinical and
research diagnostics. Bioreclamation's
products enable scientists and biomedical researchers to better understand the
pharmacokinetics and drug metabolism of newly discovered compounds and the
effects on disease processes.
Visit www.bioreclamation.com.
About Lineage Capital
Lineage Capital, LLC is a
Boston-based private investment firm with an exclusive focus on owner-managed
and family-controlled businesses. Its unique partnership model enables owners
to realize substantial liquidity at closing yet retain board control and a
meaningful investment in their companies. It seeks to partner with
owner-managers who value the support of an experienced investor in pursuing a successful
growth strategy for their businesses.
Visit www.lineagecapital.com.
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Contact Us About Financing Your Next Investment
Timothy G. Clifford
Head of Amalgamated Capital
212-895-4486
tclifford@amalcap.com |
Sean McKeever
First Vice President
212-895-4468
smckeever@amalcap.com |
Mindy Naylor
Vice President
212-895-4470
mnaylor@amalcap.com |
George Parry
Vice President
212-895-4463
gparry@amalcap.com |
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About
Amalgamated Capital
Amalgamated Capital (AmalCap),
founded in September, 2009, is the new specialty leveraged finance division of
Amalgamated Bank; a New York City-based and privately-owned commercial bank
with over $4.5 billion in assets.
AmalCap
seeks to create strong long-term partnerships with private equity sponsors and
focuses exclusively on providing senior cash flow financings to support
investments in high quality, lower middle-market companies.
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Company Criteria: - Revenue of $10 to $150 million
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EBITDA of $3 to $15 million
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Geography:
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Financing Size: - Senior debt financing needs of up to $50 million
- Hold size of up to $20 million
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Products: - Revolving Lines of Credit
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Senior Cash Flow Term Loans
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Stretch Senior Term Loans
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Letters of Credit
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Transaction Types:
- Acquisitions
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Buyouts
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Consolidations
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Growth Capital
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Recapitalizations
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Refinancings
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Industries:
- Aerospace and defense
- Business services
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Consumer products
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Education
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Healthcare
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Industrial products
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Niche manufacturing
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Software and IT services
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Value-added distribution
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