Southfield Capital has closed a dividend recapitalization of portfolio company BioPharm Communications. No financial terms were disclosed. Crescent Capital Group and Siguler Guff provided the third-party debt. BioPharm is a developer of promotional medical education programs for customers in the pharmaceutical and biotech sectors.
GREENWICH, Conn., May 4, 2015 /PRNewswire/ — Southfield Capital, a growth-oriented lower middle market private equity firm, announced today that it completed a dividend recapitalization of its portfolio company, BioPharm Communications. BioPharm specializes in the development and multi-channel deployment of proprietary marketing programs for the pharmaceutical and biotechnology industries.
Through the recapitalization, Southfield Capital repaid to its shareholders half of their invested capital and secured an attractive debt package to support the company’s continued growth. The third party debt was provided by Crescent Capital Group and Siguler Guff.
“BioPharm Communications is an undisputed leader in the multi-channel pharmaceutical marketing industry,” said Heb James, Partner at Southfield Capital. “The company offers a unique value proposition with its highly recognized branded programs and deep expertise in creating and deploying impactful content to healthcare practitioners. We at Southfield Capital are fortunate to have been given the opportunity to partner with such a talented and committed group of people.”
“BioPharm has more than doubled in size purely organically over the last three years, and Southfield Capital has played an instrumental role in helping drive that growth,” said Jeff Persinger, CEO of BioPharm Communications. “And the company’s proven ability to achieve such impressive growth and generate substantial free cash flow allowed us to provide significant liquidity to our shareholders while leaving their ownership unchanged.”
About BioPharm Communications
BioPharm develops promotional medical education programs for customers in the pharmaceutical and biotechnology industries. The company creates robust clinical content in collaboration with key opinion leaders and delivers it to healthcare practitioners through the company’s comprehensive suite of proprietary branded programs. BioPharm maximizes online and offline clinician engagements via its multi-channel “surround sound” delivery capabilities. For more information, please visit www.biopharmcommunications.com.
About Southfield Capital
Southfield Capital is a private equity firm that invests in exceptional, growing companies in the lower middle market. The firm makes control investments in North American companies generating $4-12 million in EBITDA with proven business models, attractive growth and profitability trends, and strong leadership. For more information, please visit www.southfieldcapital.com.