CVC Credit is pleased to announce that it has further supported life sciences and diagnostics business, Calibre Scientific, by leading an incremental $57 million multicurrency first lien credit facility to help fuel its ongoing global acquisition strategy. Calibre Scientific is owned by investment firm StoneCalibre.
CVC Credit originally provided a $92 million multicurrency first lien credit facility for Calibre Scientific in June 2020. Since this time the company has significantly grown its top line and expanded its geographic footprint through five recently completed add-on acquisitions.
Headquartered in Los Angeles, California and founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life science tools and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific's 6,000+ customers include blue-chip biopharmaceutical companies, leading academic research institutions and diagnostics laboratories.
Dr. Benjamin Travis, CEO of Calibre Scientific, commented: "We are happy to have secured further financing to support our ongoing acquisition growth strategy. We have significantly expanded our geographic footprint over the past six months and intend to continue this rapid rate of growth by completing further acquisitions from our full pipeline of opportunities."
Brian Wall, Founder and CEO of StoneCalibre and Calibre Scientific Chairman, added: "CVC Credit have been valuable and supportive since they came onboard in mid-2020. They have demonstrated responsiveness and efficiency in our partnership and have clearly helped fuel our international growth strategy."
Andrew Eversfield, Managing Director of CVC Credit Partners' U.S. Private Debt business, said: "Run by a strong management team and augmented with a supportive and engaged sponsor, Calibre Scientific is performing well and successfully executing on its ambitious growth strategy. We are very pleased to have strengthened our commitment to a company delivering high societal impact, particularly at a time when their mission is more important than ever."
About CVC Credit
CVC Credit is the credit management business of CVC. CVC Credit is a global credit asset manager with offices in the U.S. and Europe, 60 investment professionals and US$28 billion assets under management, as at 31 December 2020. CVC Credit seeks to generate for its investors positive absolute returns and attractive risk-adjusted returns on capital throughout the credit cycle. CVC Credit has built a diverse platform which creates significant synergies across its investment strategies. For further information about CVC Credit please visit: www.cvc.com/credit.
About Calibre Scientific
Calibre Scientific is a diversified global provider of life science reagents, tools, instruments, and other consumables to the lab research, diagnostics, industrial and biopharmaceutical communities. The Company is committed to pushing the boundaries of science and innovation through internal expertise combined with strategic acquisitions that help deliver a differentiated and comprehensive set of products, services and support to our customers. Calibre Scientific represents a portfolio of niche life science companies, across various key verticals, that have an unrivaled ability to address the unique challenges of their respective markets. Through a combination of acquisitions and organic growth our global reach extends into over 100 countries, empowering customers all over the world. Headquartered in Los Angeles, California, Calibre Scientific continues to grow across a wide array of verticals and geographies, further diversifying its product offering and global footprint to laboratories around the world. For more information, visit www.calibrescientific.com.
Headquartered in Los Angeles, CA, StoneCalibre is a privately funded investment firm specializing in the acquisition of lower middle market companies. Founded by Brian Wall in 2012, StoneCalibre is focused on making investments in both special situations and quality long-term capital investment opportunities. For more information please visit our website at www.stonecalibre.com.