Maranon Capital was the provider of a unitranche facility to back last week’s acquisition of Wedgewood Pharmacy by New Harbor Capital.
Wedgewood prepares compounded medications for people and their pets when FDA–manufactured drugs cannot meet their needs. Compounded medications are prescriptions and medication orders that are written by physicians, veterinarians and other authorized prescribers, and prepared by specially trained pharmacists and pharmacy technicians.
Wedgewood’s most common human health compounded preparations include: urology, obstetrics/gynecology, addiction, dentistry, endocrinology and dermatology. The company’s veterinary experience includes over 7,500 preparations for companion animals like dogs, cats, birds, and horses and includes some less common animals such as amphibians, hippopotamus and reptiles. Wedgewood Pharmacy is headquartered near Philadelphia in Swedesboro, NJ (www.wedgewoodpharmacy.com).
Maranon provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Since 2008, Maranon has invested $2.1 billion in more than 130 transactions. The firm is currently managing over $1 billion of committed capital and has offices in Chicago; Birmingham, MI (a Detroit suburb); and South Bend, IN (www.maranoncapital.com).
New Harbor invests from $10 million to $30 million in lower middle market companies that have EBITDAs from $3 million to $15 million. Sectors of interest include growth-oriented business services companies with emphasis on the healthcare and education industries. The firm was co-founded by Tom Formolo and Ed Lhee, long-time partners at CHS Capital. New Harbor is based in Chicago (www.newharborcap.com).
© 2016 Private Equity Professional • 6-21-16
