NEW YORK, April 23 /PRNewswire/ -- Golub Capital today announced that it has provided $12.0 million of senior subordinated debt to support the recapitalization and ongoing growth of Integrated DNA Technologies, Inc. ("IDT"). This transaction marks the first investment made by GC 2009 Mezzanine Partners, L.P., which is Golub Capital's sixth fund dedicated to middle market mezzanine debt financings. The fund targets attractive net returns by investing primarily in mezzanine and second lien debt investments in U.S. middle market companies.
Headquartered in Coralville, Iowa, IDT is the leading supplier of custom nucleic acids in the United States, serving academic, government, and commercial researchers in biotechnology, clinical diagnostics, and pharmaceutical development. IDT's primary business is the manufacture of custom, synthetic DNA and RNA oligonucleotides and genes. Today, IDT synthesizes and ships an average of 36,000 custom oligos per day to more than 86,000 customers worldwide. IDT's manufacturing locations include facilities in Coralville, Iowa; San Diego, California; and Leuven, Belgium.
"We are excited to have the opportunity to partner with the IDT management team and to begin a lending relationship with the Company," commented Senior Managing Director Andrew Steuerman. "IDT has built its market leading position over the last 25 years by delivering exceptional product quality and building longstanding customer relationships."
"This is our first time working with Golub Capital," noted Dr. Joseph Walder, IDT's founder a
|SOURCE Golub Capital|
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