Varagon backs Avista’s buyout of GCM


Varagon Capital Partners has provided a $75 million credit facility to support Avista Capital Partners‘ acquisition of GCM. Based in Union City, California, GCM is a MedTech outsourced precision manufacturer.

PRESS RELEASE

New York, NY, September 11, 2019 – Varagon Capital Partners (Varagon) today announced it is serving as administrative agent on a unitranche credit facility to support the acquisition of GCM by Avista Capital Partners. Founded in 1983 and headquartered in Union City, California, GCM is the premier MedTech outsourced precision manufacturer.

“We are excited to partner with Avista Capital Partners along with the GCM management team to support their growth initiatives,” said Michael Broderick, Managing Director at Varagon.

“Varagon was a great partner for Avista Capital Partners on this transaction. They understood our financing needs, and operated with professionalism and expediency. We look forward to working with them in the future,” said Rob Girardi, Partner at Avista.

About Avista Capital Partners
Avista Capital Partners is a private equity firm that invests in leading healthcare companies. It focuses on mid-sized companies concentrated in the healthcare sectors like pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution, and consumer-driven healthcare. The firm is headquartered in New York, New York and was founded in 2005.

For more information about Avista, visit www.avistacap.com.

About Varagon Capital Partners
Varagon is a leading lender to middle market companies and private equity firms. Varagon invests across the capital structure and delivers flexible financing solutions that meet the needs of our private equity partners. Varagon provides investors with exposure to high-quality, directly-originated middle market loans through products designed for sophisticated institutions. Since inception, Varagon has made over $11.0 billion of investment commitments to over 140 middle market companies.
For more information about Varagon, visit www.varagon.com.