The cash will be used to pay fees and expenses associated with the transaction, fund a dividend to shareholders and complete acquisitions.
Seisa Medical Announces $42.5MM Recapitalization and Acquisition Line
February 02, 2018 11:58 AM Eastern Standard Time
EL PASO, Texas – – (BUSINESS WIRE) – – Seisa Medical (the “Corporation” or “Seisa”) is pleased to announce that it has closed a USD $42.5 million (approx. CAD $53 million) senior secured credit facility (the “Senior Facility”) with Sagard Credit Partners. The proceeds from the Senior Facility will be used to pay fees and expenses associated with the transaction, fund a dividend to shareholders and complete acquisitions.
Based in El Paso, Texas, Seisa is a full-service provider of integrated manufacturing and development to the medical device industry. The Corporation has facilities in the U.S., Mexico and Europe.
“We are excited to begin this relationship with Sagard Credit Partners as a long-term strategic and financial partner,” said Julio Chiu, Founder and Chief Executive Officer of Seisa. “With this facility, we are well positioned to execute on our growth strategy to expand through acquisitions in a prudent and accretive way.”
Specifically, Seisa plans to acquire companies that will expand its geographical footprint and enhance its expertise and service offerings in injection molding, tubing and extrusion, and device assembly. For companies that may be a good strategic fit, please direct all inquiries to Seisa’s Head of Corporate Development at geoffrey.adler@seisa.com.
About Seisa Medical Inc:
Seisa Group is a global full-service medical device manufacturer with more than three decades of experience and a regulatory-focused culture (FDA-registered, ISO-certified). Seisa partners with leading medical device companies on projects ranging from concept to production and product evolution of FDA Class II and III devices. With multiple facilities in North America and Europe, Seisa’s more than 2,000 employees provide tailored solutions in molding, extrusion, device assembly, production scaling and packaging.
About Sagard Credit Partners:
Sagard Credit Partners (“SCP”) provides direct credit financing to public and private middle market companies across Canada and the U.S. SCP works with companies to craft solutions tailored to their unique financing needs, including term loans, notes, debenture financing, and other bespoke solutions and can provide certainty on terms, structure and execution. SCP has a long-term outlook and seeks to build lasting relationships with its investors as well as the companies in which it deploys capital. For more information on SCP please visit our website http://www.sagardholdings.com/credit-partners/.
Contacts
Seisa Medical Inc.
Geoffrey Adler
Head of Corporate Development
geoffrey.adler@seisa.com
