Maranon Capital has completed a mezzanine debt investment in Young Innovations to support affiliates of Linden Capital Partners in a public–to-private transaction valued at approximately $314 million. Maranon was agent for the lenders who provided a $65 million mezzanine tranche. Maranon also co-invested preferred and common equity in the transaction alongside Linden.
Maranon Capital, L.P. is pleased to announce the recent completion of a mezzanine debt investment in Young Innovations, Inc. to support affiliates of Linden Capital Partners in a public–to-private transaction valued at approximately $314 million. Maranon was Agent for the lenders who provided a $65 million mezzanine tranche. Maranon also co-invested preferred and common equity in the transaction alongside Linden.
“In addition, we are pleased to complete our first investment with Linden, a leading healthcare private equity firm, and an experienced investor in the dental products sector.”
Young Innovations develops, manufactures and markets both supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The company’s consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental drills, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children’s toothbrushes, and children’s toothpastes. In addition, Young Innovations offers a line of diagnostic products that includes panoramic X-ray machines and related supplies. The company is headquartered in St. Louis, Missouri.
“We were attracted to the Young Innovations investment opportunity by the company’s excellent brand recognition and customer loyalty, its leading market share across a variety of products, and the recurring revenue stream associated with multiple categories of single use items,” remarked Demian Kircher, Managing Director and the lead partner for Maranon Capital on the transaction. Kircher continued “In addition, we are pleased to complete our first investment with Linden, a leading healthcare private equity firm, and an experienced investor in the dental products sector.”
Other Maranon Capital team members involved in the Young Innovations investment included Laura Albrecht, Principal, and Andrew Eshelman, Associate. Proskauer Rose LLP provided legal counsel for Maranon.
About Maranon Capital
Maranon Capital, L.P. provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Maranon has the flexibility to structure an integrated financing solution or provide stand-alone senior or mezzanine debt. Maranon is currently managing over $550 million of committed capital. The firm is headquartered in Chicago with additional offices in Birmingham, Michigan and South Bend, Indiana.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s strategy is based upon three elements: i) healthcare and life science industry specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden currently has investments in middle market platforms in the products, distribution, and services segments of healthcare.
Maranon Capital, L.P.
Demian Kircher, Managing Director, (312) 646-1203
Greg Long, Managing Director, (312) 646-1204
Rich Jander, Managing Director, (248) 220-1804