Middle market lender LBC Credit Partners was co-lead arranger and syndication agent for a senior secured credit facility assigned to Assistive Technology Group (ATG), maker of rehabilitative technology equipment. ATG is a portfolio company of Audax Private Equity and used the facility to both refinance its existing debt and to acquire Chesapeake Rehab Equipment of Baltimore, Md.
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it was Co-Lead Arranger and Syndication Agent for a senior secured credit facility for Assistive Technology Group, Inc. (d/b/a ATG Rehab [“ATG”]), a provider of assistive and rehabilitative technology equipment, systems, and supplies. ATG, a portfolio company of Audax Private Equity, used the facility to refinance existing debt and fund the acquisition of Baltimore, MD – based Chesapeake Rehab Equipment, Inc.
The senior secured credit facility consisted of a revolver, term loan and acquisition tranche; a structure that allows for adequate liquidity for future growth, both organic as well as through acquisitions.
“LBC was an important partner in this transaction,” said Brian Doherty, a Vice President with Audax. “Their understanding of ATG’s current and future needs helped us get to a structure that works very well.”
“ATG is a premier company in a growing industry,” added Homyar M. Choksi, Managing Director with LBC. “We are pleased to establish this new relationship with their management as we continue our important association with Audax.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
ATG Rehab is one of North America’s leading rehab equipment providers of wheelchairs and mobility equipment with U.S. locations coast to coast. Established in 1999, the ATG Rehab family of companies is privately held with over 41 locations servicing 24 states and is accredited by the Healthcare Quality Association on Accreditation. ATG Rehab is known for customized customer care with a trained, knowledgeable staff that delivers localized focus and outstanding service. For additional information please visit www.atgrehab.com.
Audax Group, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax Group manages in excess of $4.8 billion of equity, mezzanine debt, and senior loan capital. Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of lower-middle market companies across a wide range of industries. They acquire companies in which sound strategy and superior execution can enhance revenue and cash flow and create equity value. For additional information please visit www.audaxgroup.com