Crestline Direct Lending backs SDG

Crestline Direct Lending, which is part of Crestline Investors Inc, has provided a credit facility to Schweiger Dermatology Group, a provider of dermatology services. No financial terms were disclosed. The capital infusion will be used for expansion. Crestline was the administrative agent and joint lead arranger on the facility. SDG is a portfolio company of LNK Partners, LLR Partners and SV Health Investors.

PRESS RELEASE

FORT WORTH, Texas, Jan. 2, 2019 /PRNewswire/ — Crestline Direct Lending, a part of the opportunistic investment group of Crestline Investors, Inc. (“Crestline”), is pleased to announce the recent closing of a Senior Secured Credit Facility (the “Facility”) to support Schweiger Dermatology Group’s (“SDG” or the “Company”) rapid expansion as one of the leading providers of dermatology services in northeast United States. SDG is a portfolio company of LNK Partners, LLR Partners and SV Health Investors. Crestline served as Administrative Agent and Joint Lead Arranger on the Facility.

Since 2010, SDG has continued to grow both organically and through acquisitions and has built a multi-site platform of more than 45 locations with strong regional density, scale, and brand awareness. Additionally, the Company has made significant, advanced investments across its organization in order to support strong and sustainable future growth.

The Facility from Crestline provides SDG with additional capital to pursue its multi-faceted growth strategy consisting of acquisitions and newly-built locations. The Company has an accomplished track record of executing successful and accretive acquisitions and plans to continue increasing its footprint within its current geography, as well as enter new markets.

“We decided to work with Crestline’s Direct Lending team due to their deep experience in lending to multi-site healthcare businesses, as well as their ability to provide a flexible credit facility enabling us to increase our pace of acquisitions,” said Dr. Eric Schweiger, CEO of Schweiger Dermatology Group.

“We are excited to be SDG’s financing partner and look forward to working with the Schweiger team as the company continues to expand its geographic footprint,” said Jonathan Ben-Horin, Managing Director at Crestline Investors.

About Schweiger Dermatology Group
Founded in 2010, Schweiger Dermatology Group is the premier provider of dermatology services in the Northeast and is one of the largest dermatology service providers in the country with over 50 locations throughout New York, New Jersey and Pennsylvania, 150 health care providers, and over 500,000 annual patient visits. Under the leadership of founder and chief executive officer, Dr. Eric Schweiger, SDG provides high-quality medical, cosmetic and surgical dermatology services while delivering a best-in-class experience to its patients. To learn more, visit www.schweigerderm.com.

About Crestline Direct Lending
Crestline Direct Lending seeks to provide $20-100 million senior secured, unitranche and second lien financings to lower-middle and middle market companies in North America and Europe. Crestline lends to companies with highly recurring revenues and has significant experience in healthcare, technology, media and telecom. Crestline Direct Lending typically lends to businesses with $5mm+ of EBITDA and can also lend to companies with minimal cash flow on a multiple of recurring revenues. For more information, visit https://www.crestlineinvestors.com/directlending.

About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund, and provides Beta and Hedging Solutions for Institutional clients. The company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. For more information, visit www.crestlineinvestors.com.