Linsalata Capital Partners recapitalized its NeuroTherm Inc. in partnership with the firm’s management. Babson Capital Management provided $11.3 million in mezzanine debt financing and $1.5 million in the form of an equity investment.
SPRINGFIELD, MASS., May 5, 2011 – Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today said it provided $11.3 million of mezzanine debt financing and a $1.5 million equity investment to Linsalata Capital Partners’ recapitalization of NeuroTherm Inc., in partnership with NeuroTherm’s management.
Headquartered in Wilmington, Mass., with overseas operations in the Netherlands and United Kingdom, NeuroTherm is a leading global manufacturer of products used primarily in the field of interventional pain management, including radio frequency generators and related consumables used in the treatment of chronic pain. NeuroTherm markets and sells to physicians, practices, surgery centers and hospital systems specializing in Interventional Pain, Interventional Radiology, and Orthopedic treatment.
“Our work on NeuroTherm with Babson Capital is typical of our long experience with them,” said Eric Bacon, senior managing director of Linsalata Capital Partners. “Babson Capital is a value-added partner in both our due diligence and to deliver a timely close.”
“We are excited to help Linsalata Capital Partners make its first venture into the health care sector and look forward to work with them on this excellent opportunity,” said Mike Klofas, managing director and co-head of Babson Capital’s Mezzanine and Private Equity Group.
About Babson Capital Management
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $134.5 billion in assets under management as of March 31, 2011. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, and Cornerstone Real Estate Advisers LLC in Hartford, Conn. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.
About Linsalata Capital Partners
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its more than 26 years of investing, the firm has completed 98 buy-side transactions totaling more than $3 billion. Linsalata Capital Partners is currently investing from its sixth fund, Linsalata Capital Partners Fund V, L.P., with $425 million in committed equity capital.
Media Contact: David Coburn, Luquire George Andrews, (704) 552-6565, (704) 408-4276, [email protected]