Praesidian Capital has exited its $11.5 million subordinated debt investment in Metanexgen, a marketing services company serving the life sciences industry, as a result of the sale of the company by DFW Capital Partners to Insignia Capital Group.
DFW acquired Meta Pharmaceutical Services, a provider of data-driven email and direct mail marketing services, from its founders in August 2010. At that time, Praesidian provided $6 million in subordinated debt to support the acquisition. In June 2013 the company acquired NexGen RxMarketing, a provider of online video and virtual meeting marketing services. Praesidian made an additional investment to support this add-on acquisition. The combined company was then renamed Metanexgen.
Today, Metanexgen is a provider of data-driven multi-channel marketing services that are used by pharmaceutical, biotechnology and medical device brands to market their products to healthcare practitioners. Metanexgen is headquartered near Philadelphia in Bensalem, PA (www.metanexgen.com).
“This has been a highly successful relationship at all levels. We wish Metanexgen only the best as they continue on their growth path,” said Glenn Harrison, a Praesidian Partner.
Praesidian provides senior and mezzanine capital to small and mid-sized businesses that have revenues of $15 million to $200 million and EBITDA of $5 million to $20 million. The firm typically invests in connection with a management/leveraged buyout, recapitalization or refinancing. Praesidian is based in New York with an additional office in London and manages nearly $1 billion in committed capital (www.praesidian.com).
“The support we have had from Praesidian in the past five years has allowed our company to expand and evolve,” said Brian Tilley, Partner of DFW Capital Partners. “Praesidian provided the kind of partnership that any fast-growing organization most desires and rarely finds. We are grateful to the entire Praesidian team.”
DFW Capital Partners invests in lower middle-market service companies, with an emphasis on healthcare and outsourced business and industrial support services. The firm is headquartered in Teaneck, NJ, and maintains an office in Chevy Chase, MD (www.dfwcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-25-15