Allied Capital Invests $77.0 Million In Triax Holdings, LLC To Finance Its Acquisition Of Substantially All The Assets Of Spear Dermatology Products, Inc. And Spear Pharmaceuticals, Inc.
10/19/2005 5:09:28 PM
WASHINGTON--(BUSINESS WIRE)--July 7, 2005--Allied Capital Corporation (NYSE:ALD) announced today that it has invested $77.0 million in Triax Holdings, LLC to finance its acquisition of substantially all the assets of Spear Dermatology Products, Inc. and Spear Pharmaceuticals, Inc. (collectively "Spear"). Allied Capital's investment took the form of subordinated notes and a controlling interest in the equity of the company. Management of Triax also participated in the deal with a minority equity investment.
Spear Pharmaceuticals markets and distributes the only complete line of Tretinoin, the generic equivalent of a leading topical prescription acne medication. Included in the Tretinoin product line are five Abbreviated New Drug Application ("ANDA") approvals. The products are marketed to major national wholesalers, drug store chains and regional and specialty distributors.
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