HealthcareRBC Capital Markets acted as Lead Arranger and Sole Bookrunner on debt financing of $507 million to fund an acquisition of Qualitest and Vintage Pharmaceuticals by funds advised by Apax Partners
Transaction Information
On November 5, 2007, funds advised by Apax Partners completed the acquisition of Qualitest and Vintage Pharmaceuticals, a leading distributor and manufacturer of generic pharmaceuticals based in Huntsville. RBC Capital Markets acting Sole Lead Arranger and Bookrunner underwrote $507 million in credit facilities, consisting of a $75 million revolving credit facility, a $265 million term loan, a $27 million delayed-draw term loan facility and a $140 million second-lien term loan facility.
About Qualitest and Vintage Pharmaceuticals
Qualitest and Vintage Pharmaceuticals is a leading distributor and manufacturer of generic pharmaceuticals based in Huntsville, Alabama. The Company produces tablets, capsules, liquids, suspensions, suppositories, creams, and ointments across a portfolio of over 160 products. The business has grown significantly over the past 24 years and is currently ranked among the top ten suppliers of generic pharmaceuticals in the U.S. based on the total number of prescriptions filled. |
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About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $40 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Healthcare, Tech & Telecom, Retail & Consumer, Media, and Financial & Business Services.
Summary Terms
|
Revolver: |
$75 million (6-year) |
|
Delayed-draw Term Loan: |
$27 million (7-year) |
| Term Loan B: |
$265 million (7-year) |
| Second-lien Term Loan: |
$140 million (7.5-year) |
Investment Banking Contact
Daniel Schnurman
Director, Specialty Pharmaceuticals
212-428-6310
daniel.schnurman@rbccm.com
