Amalgamated Capital Leads Financing for Symmetric Capital's Minority Recapitalization of BioRx, LLC
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NEW YORK, NY, December 16, 2010 - Amalgamated Capital (AmalCap), the New York-based leveraged finance division of Amalgamated Bank, announced today that it served as Lead Arranger and Administrative Agent for the senior secured credit facility in support of the minority recapitalization of BioRx, LLC (BioRx) by Symmetric Capital. AmalCap provides cash flow-based senior financing to support investments made by private equity sponsors in high quality, lower middle market companies across the United States.
Based near Boston, Symmetric Capital is a private equity firm investing in growth companies in the U.S. and Canada, with over $200 million in committed capital in its active funds. BioRx, headquartered in Cincinnati, is one of the nation's fastest growing providers of specialty pharmaceuticals and infusion services, delivering highly customized care for patients with certain rare and chronic diseases.
"We wholeheartedly recommend Tim and
his team to any private equity investor
looking to build a new lending relationship."
Rob Walsh, a founding Partner of Symmetric Capital
"BioRx is a great company and one that is an excellent fit with our portfolio strategy - lower middle market business, fast growing, strong cash flow, great management team and a well defined market niche," said Timothy Clifford, Executive Vice President and Head of Amalgamated Capital. "When the principals at Symmetric Capital asked us to be part of the BioRx transaction, we were thrilled to work with them again and expand upon our 15-year relationship."
"The AmalCap team has been with us since the mid 1990's," said Rob Walsh, a founding Partner of Symmetric Capital. "They have always supported our investments, strategic growth initiatives and partnerships with entrepreneurs. We wholeheartedly recommend Tim and his team to any private equity investor looking to build a new lending relationship."
"AmalCap has significant healthcare experience and a unique knowledge of the specialty pharmacy sector. This enabled them to move quickly through the diligence and structuring process," said Daniel Doyle, a founding Partner of Symmetric Capital.
About Symmetric Capital
Based near Boston, MA, Symmetric Capital is a private equity firm investing in growth companies in the U.S. and Canada and has over $200 million in committed capital in its active funds. With the flexibility to invest in either minority or majority positions, Symmetric structures transactions that meet both the immediate and the longer-term objectives of owners and managers without changing the company's entrepreneurial culture or introducing excessive debt that restricts growth. Symmetric's principals have built dozens of successful, collaborative partnerships over the past twenty years, beginning in each case with an equity investment to fund growth, shareholder liquidity, debt repayment, a management-led buyout or the acquisition of a competitor. For additional information, visit www.symmetriccapital.com.
About BioRx
Based in Cincinnati, OH, BioRx is one of the nation's fastest growing providers of specialty pharmaceuticals and infusion services, delivering highly customized care for patients with certain rare and chronic diseases. In addition to serving the alpha-1 community, BioRx offers pharmacy, nursing and education services to patients with bleeding disorders, immune deficiencies, autoimmune disorders, hereditary angioedema, and nutritional/digestive disorders. The company's clinical staff reaches patients and physicians in all 50 states. For additional information, visit www.biorx.net.
