CHICAGO, March 3, 2015 /PRNewswire/ — Golub Capital announced today that as Sole Bookrunner, Sole Lead Arranger and Administrative Agent, it provided a GOLD financing to support the acquisition of Apex Foot Health Industries (“Apex”) by Orthotic Holdings (“OHI”), a Frazier Healthcare (“Frazier”) portfolio company. GOLD financings are Golub Capital’s One-Loan Debt facilities.
Headquartered in Ronkonkoma, NY, OHI is the global leader in lower extremity DME technologies for healthcare providers who treat diseases associated with the extremities. Through a growing family of brands, now including Apex Foot Health, Arizona AFO, Australian Orthotic Group, Langer Biomechanics, PedAlign, The Orthotic Group and SafeStep, OHI will continue to innovate and create global scale in an effort to provide a complete solution of therapies and medical technologies for their partnering customer base of healthcare providers. OHI currently distributes medical technologies throughout North America, Europe, and Australia/New Zealand.
Golub Capital provided over $1.5 billion in financing for the healthcare industry in 2014. The firm’s deep industry knowledge and experience within this niche market allows its team to provide customized, flexible financing solutions.
“OHI presented the opportunity to invest in the combination of two leading providers of custom orthotics and diabetic footwear, which benefit from strong macro growth drivers, well-established and highly diverse customer relationships, a diverse product portfolio and significant share of mind within the physician community,” said Stefano Robertson, Managing Director at Golub Capital. “OHI is led by an impressive management team and is backed by a highly experienced and well-regarded healthcare-focused sponsor in Frazier, with which Golub continues to enjoy a strong and collaborative relationship.”
“Golub Capital’s Healthcare Finance Team was able to provide a flexible financing solution that was not only competitive but also uniquely oriented towards helping the company to achieve its growth goals,” said Brian Morfitt, a General Partner at Frazier Healthcare. “Consistent with our prior experiences with their healthcare finance team, Golub Capital worked quickly and effectively to meet our timeframe and successfully complete the transaction.”
The acquisition is expected to fuel higher performance, accelerate product development and drive expansion in key growth markets for OHI.
About Golub Capital Middle Market Lending
Golub Capital’s award winning middle market lending team structures financing solutions with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million. As of YE 2014, Golub Capital has been #1 for four years in a row for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).
Golub Capital is a nationally recognized credit asset manager with over $10 billion of capital under management. Golub Capital has four highly complementary business lines led by exceptional teams of credit professionals: Middle Market Lending, Late Stage Lending, Broadly Syndicated Loans and Opportunistic Credit. Golub Capital’s lending offices are located in Chicago, New York and San Francisco. For more information, please visit the firm’s website at www.golubcapital.com.
About Frazier Healthcare
Founded in 1991, Frazier Healthcare is a leading provider of venture and growth buyout capital to healthcare companies. With over $2 billion under management, Frazier Healthcare has invested in more than 150 companies across the entire development spectrum. From venture investments to leveraged recapitalizations, Frazier Healthcare has established itself among entrepreneurs and seasoned executives as a preferred partner to help create and grow successful healthcare companies. The Growth Buyout team at Frazier focuses on investments in healthcare services, pharmaceutical services, healthcare information technology, products, supplies and specialty distribution. The Life Sciences team at Frazier focuses on investments in biopharmaceuticals and related areas that are addressing areas of unmet medical need through innovation. For more information about Frazier Healthcare, visit the company’s website at www.frazierhealthcare.com.
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SOURCE Golub Capital