Monroe Capital has provided funding to back Altaris Capital Partners’ acquisition of Kindeva Drug Delivery LP. No financial terms were disclosed. Based in Minnesota, Kindeva is a contract development and manufacturing organization focused on both drugs and their delivery devices.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC (“Monroe”) today announced it acted as Co-Syndication Agent in the funding of a senior credit facility and equity co-investment to support the acquisition of Kindeva Drug Delivery L.P. (“Kindeva”) by Altaris Capital Partners.
Based outside of St. Paul, Minnesota, Kindeva is a unique Contract Development and Manufacturing Organization (“CDMO”) focused on both drugs and their delivery devices, particularly inhalation, including asthma inhalers; transdermal, or patches that deliver drugs; and other systems. The company’s microneedle-based drug delivery platforms are currently being utilized in dozens of development programs, including programs for COVID-19 vaccines and other difficult-to-deliver therapies. Kindeva is a carve-out of the 3M Drug Delivery Systems Division. 3M is a diversified industrials conglomerate operating across multiple sectors, including consumer, telecommunications, security, healthcare and transportation.
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Los Angeles, New York, and San Francisco.
Monroe has been recognized by Creditflux as the 2019 Best US Direct Lending Fund; Global M&A Network as the 2019 Small Middle Markets Lender of the Year; Private Debt Investor as the 2018 Lower Mid-Market Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.