Avante Mezzanine Partners has provided subordinated debt and an equity co-investment to Therapeutic Research Center, a portfolio company of Francisco Partners acquired in August 2012.
Therapeutic Research Center (TRC) is a research, analytic, and information services company that provides evidence-based drug therapy recommendations for physicians, pharmacists, pharmacy technicians, and other healthcare professionals. The company also provides information on natural medicines to institutions and individual consumers. Therapeutic Research Center’s information products include Pharmacist’s Letter, Prescriber’s Letter, Pharmacy Technician’s Letter, Natural Medicines Comprehensive Database, Ident-A-Drug Reference, and a variety of continuing education and training courses. The company also operates Pharmacy Technicians University, an online education platform focused on the training and certification of pharmacy technicians. The company was founded in 1985 and is based in Stockton, CA (www.therapeuticresearch.com).
“We were impressed with TRC’s leading market position, talented management team and long-standing reputation as the provider of the most trusted, unbiased, evidence-based drug therapy and medication management advice,” said Natasha Fox, Partner of Avante.
Avante Mezzanine Partners provides unitranche/one-stop debt, mezzanine, and minority equity investments of $5 million to $20 million to sponsored and non-sponsored companies with EBITDAs from $3 million to $15 million. Sectors of interest include aerospace & defense; business services; consumer products; distribution; education; healthcare & life sciences; industrial manufacturing; security products & services; software & IT services; and specialty chemicals & coatings. Avante Mezzanine Partners has offices in Los Angeles and Boston (www.avantemezzanine.com).
“Francisco Partners has a long track record of success and significant experience investing in technology-enabled businesses,” said Paul Hayama, Principal of Avante. “We look forward to partnering with them and supporting the Company’s future growth.”
Francisco Partners makes investments in technology companies with transaction values ranging from $50 million to $2 billion. Transaction structures include buyouts, divisional divestitures, recapitalizations, restructurings and growth equity financings. Francisco Partners is headquartered in San Francisco (www.franciscopartners.com).
2014 PEPD • Private Equity’s Leading News Magazine • 7-21-14