NEW YORK, April 23, 2010 /PRNewswire/ — Golub Capital today announced that it has provided $12.0 million of senior subordinated debt to support the recapitalization and ongoing growth of Integrated DNA Technologies, Inc. (“IDT”). This transaction marks the first investment made by GC 2009 Mezzanine Partners, L.P., which is Golub Capital’s sixth fund dedicated to middle market mezzanine debt financings. The fund targets attractive net returns by investing primarily in mezzanine and second lien debt investments in U.S. middle market companies.
Headquartered in Coralville, Iowa, IDT is the leading supplier of custom nucleic acids in the United States, serving academic, government, and commercial researchers in biotechnology, clinical diagnostics, and pharmaceutical development. IDT’s primary business is the manufacture of custom, synthetic DNA and RNA oligonucleotides and genes. Today, IDT synthesizes and ships an average of 36,000 custom oligos per day to more than 86,000 customers worldwide. IDT’s manufacturing locations include facilities in Coralville, Iowa; San Diego, California; and Leuven, Belgium.
“We are excited to have the opportunity to partner with the IDT management team and to begin a lending relationship with the Company,” commented Senior Managing Director Andrew Steuerman. “IDT has built its market leading position over the last 25 years by delivering exceptional product quality and building longstanding customer relationships.”
“This is our first time working with Golub Capital,” noted Dr. Joseph Walder, IDT’s founder and CEO. “The financing provided by Golub Capital will help ensure that IDT maintains a strong balance sheet and has the flexibility necessary to pursue our ambitious plans for the future.”
About Golub Capital
With $4 billion in capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital’s hold sizes range from $10 million to $75 million per transaction. Golub Capital was ranked by Thomson Reuters Loan Pricing Corporation as the #1 Traditional Middle Market Bookrunner for 2009. For two years in a row, Golub Capital was named “Middle Market Lender of the Year” by Buyouts Magazine for achievements in 2009 and 2008. Other honors awarded to Golub Capital include being named “2009 Mezzanine Financing Agent of the Year” and “2008 Financing Firm of the Year” by M&A Advisor and “2008 M&A Lender of the Year” by ACG’s Mergers & Acquisitions. Golub Capital is a national firm with offices in Chicago, New York and Atlanta. For more information, please visit the firm’s website at www.golubcapital.com.
Golub Capital Incorporated (and its various affiliates) creates and manages multiple private funds. One of its affiliates, GC Advisors LLC is an investment advisor registered with the United States Securities and Exchange Commission.
First Call Analyst:
SOURCE: Golub Capital
CONTACT: Andrew Steuerman, Senior Managing Director, +1-212-660-7280,