Maranon Capital, L.P. has led a $19.5m mezzanine debt investment to support the recapitalization of Brentwood, TN-based PathGroup Inc. and its subsidiaries in a transaction initiated by Primus Capital Funds.
In addition, Maranon provided $10m of revolving credit and term debt as a participant in a senior credit facility.
PathGroup and its subsidiaries provide a wide range of diagnostic laboratory services including anatomic, esoteric and clinical testing as well as administrative services.
Its clients include over 1,500 hospitals, multi-specialty clinics, surgery centers, physician offices and other clinical reference laboratories located throughout the Southeast and Midwest U.S. as well as California.
Commenting on the financing, Greg Long, a Managing Director at Maranon Capital, said: “We are pleased to be working with Primus and the management team at PathGroup. This transaction illustrates the benefits of using one underwriting team for both the mezzanine and senior debt”.
FinSMEs
12/01/2010