Fifth Street Provides $175 Million One-Stop Financing Facility to Support Refinancing of Ameritox by Sterling Partners
January 07 2015 - 4:30PM
Fifth Street Asset Management Inc. (NASDAQ:FSAM) ("FSAM") announced
today that its affiliates, including Fifth Street Finance Corp.
(NASDAQ:FSC) ("FSC") and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR) ("FSFR"), have co-invested in a $175 million one-stop
financing facility in connection with the refinancing of Ameritox
Ltd. ("Ameritox") by Sterling Partners. A leading provider of pain
medication monitoring, Ameritox offers laboratory services and
management tools to help clinicians identify potential medication
abuse or misuse by patients. The financing facility consists of a
first lien term loan and a revolving credit facility. Fifth
Street Management LLC, FSC's and FSFR's investment adviser, served
as Lead Arranger and Administrative Agent for the transaction.
Ameritox represents the Fifth Street platform's seventh
transaction with Sterling Partners, a growth-oriented private
equity firm with approximately $5 billion of assets under
management. Sterling Partners focuses on investing in small and
mid-market companies across industries with positive, long-term
trends including healthcare, education and business services.
"Fifth Street's flexibility and partnership approach throughout
the Ameritox transaction process exemplifies why it continues to be
a lender of choice for our firm," said Garrick Rice, a Managing
Director at Sterling Partners, adding, "After gaining an
appreciation for the business, Fifth Street was able to offer
multiple capital structure alternatives and ultimately provide an
attractive financing solution in support of the long-term growth of
the company."
"Ameritox is a true pioneer and leader in the pain management
testing industry," noted Sunny Khorana, Managing Director at Fifth
Street, adding, "We look forward to working with the company's
exceptional management team, our longstanding partner, Sterling
Partners, Bain Capital Ventures, Sequoia Capital and other
financial investors to support the business through its next phase
of growth."
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a rapidly
growing credit-focused asset manager. The firm has over $6
billion of assets under management across two publicly-traded
business development companies, Fifth Street Finance Corp.
(NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR), as well as multiple private investment vehicles. The
Fifth Street platform provides innovative and customized financing
solutions to small and mid-sized businesses across the capital
structure through complementary investment vehicles and
co-investment capabilities. With a 16-year track record
focused on disciplined credit investing across multiple economic
cycles, Fifth Street is led by a seasoned management team that has
issued billions of dollars in public equity, private capital and
public debt securities. Fifth Street's national origination
strategy, proven track record and established platform are
supported by approximately 100 professionals across locations in
Greenwich, Chicago, Palo Alto and Dallas. For more
information, please visit fsam.fifthstreetfinance.com.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point
of view on how to build great companies. Founded in 1983,
Sterling has invested billions of dollars, guided by the company's
stated purpose, INSPIRED GROWTH®, which describes Sterling's
approach to buying differentiated businesses and growing them in
inspired ways. Sterling focuses on partnering with like-minded
founders and entrepreneurs and investing growth capital in small
and mid-market companies in industries with positive, long-term
trends including healthcare, education and business services.
Sterling provides valuable support to the management teams of the
companies in which the firm invests through a deep and dedicated
team of operations and functional experts based in the firm's
offices in Chicago, Baltimore and Miami. For more information,
please visit www.sterlingpartners.com.
About Ameritox Ltd.
Ameritox helped pioneer the prescription drug monitoring
necessary to address the national epidemic of prescription drug
misuse, abuse and diversion. As the nation's trusted leader in Pain
Medication Monitoring SolutionsSM, Ameritox provides medical and
business professionals with data-driven analysis and tailored
solutions that can improve patient care and prevent tragedy.
Ameritox, headquartered in Baltimore, MD, has 800 employees
nationwide and laboratory facilities in Greensboro, NC.
Forward-Looking Statements
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that reflect the company's current views with respect to, among
other things, future events and financial performance. Words
such as "believes," "expects," "will," "estimates," "projects,"
"anticipates," and "future" or similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions. Certain factors could cause
actual results to differ materially from those projected in these
forward-looking statements. New risks and uncertainties arise over
time, and it is not possible for the company to predict those
events or how they may affect it. Therefore, you should not place
undue reliance on these forward-looking statements. The company
does not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
CONTACT: Investor Contact:
Robyn Friedman, Vice President, Investor Relations
(203) 681-3720
ir-fsam@fifthstreetfinance.com
Media Contact:
Nick Rust
Prosek Partners
(212) 279-3115 ext. 252
pro-fifthstreet@prosek.com
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