Golub Capital has provided $450 million in senior credit facilities to back GI Partners‘ acquisitions of California Cryobank and Cord Blood Registry. The combined company will operate under the California Cryobank Life Sciences name. California Cryobank is a donor sperm and egg bank while Cord Blood Registry is a stem cell collection and storage company.
NEW YORK, Aug. 9, 2018 /PRNewswire/ — Golub Capital recently announced that, as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, it provided $450 million of senior credit facilities to support the acquisitions of California Cryobank and Cord Blood Registry by GI Partners. The two businesses will be combined and operate under the California Cryobank Life Sciences platform, bringing together best-in-class organizations to provide enhanced domestic and international expansion opportunities in both the donor reproductive tissue and newborn stem cell industries. The combined organization will operate its corporate headquarters out of Los Angeles, CA, while maintaining its state-of-the-art processing and storage facility in Tucson, AZ, and continuing to operate branches in New York, Boston, Northern California, and Rockville, MD.
“Both California Cryobank and Cord Blood Registry have built themselves as market leaders in the reproductive and stem cell storage spaces. With Golub Capital’s expanded capabilities through our growing Capital Markets team, we were able to provide GI Partners and the combined company with the flexible financing required for this transaction,” said Michael Meagher, Managing Director at Golub Capital.
“We were looking for a partner to provide financing that met our needs and put trust in our strong management at California Cryobank,” said Dave Kreter, Managing Director at GI Partners. “The combination of Golub Capital’s tailored financing, specialist sector expertise and speed of execution enabled us to seize this valuable opportunity and unlock the growth potential of the newly formed California Cryobank Life Sciences.”
About Golub Capital Middle Market Lending
Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $600 million and underwrites and arranges credit facilities of up to $1 billion. Golub Capital’s award-winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors’ and portfolio companies’ needs.
Golub Capital is a nationally recognized credit asset manager with over $25 billion of capital under management. For over 20 years, Golub Capital has provided credit to help medium-sized U.S. businesses grow. The firm’s award-winning Middle Market Lending business provides financing for middle market companies and their private equity sponsors. Golub Capital’s credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling financing solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 350 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About GI Partners
GI Partners is a private equity investment firm based in San Francisco. The firm has raised $16.0 billion in capital from leading institutional investors across the globe. GI Partners’ private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors. For more information on GI Partners and its entire portfolio, visit www.gipartners.com.
About California Cryobank Life Sciences
California Cryobank Life Sciences is the clear market leader across the donor reproductive tissue and newborn stem cell collection and storage industries, offering a full family-focused suite of services. The combined company has helped nearly 700,000 families across more than 30 countries. The organization’s best-in-class Life Sciences platform includes cord blood and cord tissue collection and storage, frozen donor sperm and frozen donor egg services, and fertility preservation storage services. Through its leading positions across these categories, the combined company continues to fulfill its mission of helping grow and protect families around the world.
For more information on California Cryobank, please visit www.californiacryobank.com.