Mezzanine capital provider for small and medium sized firms Praesidian Capital announced today that it steered a US$7.5 million subordinated debt investment in Meta Pharmaceutical Services.
This is not the first time that the pharmaceutical company received a mezzanine loan from Praesidian. Previously, NexGem RxMarketing got a US$6 million worth of subordinate debt funds for its recapitalization initiated by DFW Capital Partners and management. The investment was handed in support of the company's planned merger with NexGen RxMarketing LLC.
"We are pleased to see Meta enhance its already strong market position with this new acquisition," said partner at Praesidian Glenn Harrison. "The two companies complement each other well, and we anticipate benefits for both the businesses and their customers," he continued.
"The combination of Meta and NexGen creates a multi-channel marketing services and communications company that can deliver highly targeted, data-driven promotional products and services to the pharmaceutical industry. We appreciate Praesidian's investment in this business," explained DFW General Partner Brian Tilley.
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