Morgan Stanley Credit Partners today announced it provided a $46 million mezzanine loan to help finance the acquisition of BarrierSafe Solutions International (BarrierSafe) by Odyssey Investment Partners. As part of the transaction, Morgan Stanley Credit Partners also completed an equity co-investment in BarrierSafe.
BarrierSafe is a Reno, Nevada-based disposable glove maker that was previously owned by Linden Capital Partners and The Edgewater Funds. Terms its acquisition by Odyssey earlier this month were not disclosed.
Morgan Stanley Credit Partners today announced it has provided a $46 million mezzanine loan to help finance the acquisition of BarrierSafe Solutions International (BarrierSafe) by Odyssey Investment Partners. As part of the transaction, Morgan Stanley Credit Partners also completed an equity co-investment in BarrierSafe.
Based in Lake Forest, Ill., BarrierSafe is a leading player in the $2 billion U.S. disposable protective glove segment of the personal protective equipment industry. The company designs, develops and markets a comprehensive suite of disposable gloves and other related products that serve the needs of users across a diverse range of growing, niche markets that enjoy favorable regulatory and secular tailwinds. Formed in 2004 through the merger of two industry leaders, Microflex and FoodHandler, BarrierSafe today provides in excess of six billion single-use gloves annually and commands leading market positions in its primary end markets.
Morgan Stanley Credit Partners invests primarily in fixed income securities issued by middle market companies in the context of leveraged buyouts, debt refinancings, acquisitions and recapitalizations across a broad range of industry sectors.
“Morgan Stanley Credit Partners is pleased to be working with Odyssey Investment Partners on their acquisition of BarrierSafe,” said Jeff Levin, Executive Director, Morgan Stanley Credit Partners. “We are excited to be able to support BarrierSafe in its efforts to grow its business and provide high quality products and services to its customers.”
Morgan Stanley Credit Partners, part of Morgan Stanley Investment Management, invests in corporate debt securities issued by middle market companies. With approximately $1 billion in capital under management, Morgan Stanley Credit Partners’ experienced investment professionals bring significant expertise in origination, structuring, credit analysis and principal investing in the leveraged finance markets. Based in New York, the team focuses on deploying capital in North America and Western Europe. For further information about Morgan Stanley Credit Partners, please visit www.morganstanley.com/creditpartners.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 42 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.