Funding by CVC Credit has supported five acquisitions since June 2020
CVC Credit is pleased to announce that it has further supported life sciences and diagnostics business, Calibre Scientific, by leading an incremental $57 million multicurrency first lien credit facility to help fuel its ongoing global acquisition strategy. Calibre Scientific is owned by investment firm StoneCalibre.
CVC Credit originally provided a $92 million multicurrency first lien credit facility for Calibre Scientific in June 2020. Since this time the company has significantly grown its top line and expanded its geographic footprint through five recently completed add-on acquisitions.
Headquartered in Los Angeles, California and founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life science tools and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific’s 6,000+ customers include blue-chip biopharmaceutical companies, leading academic research institutions and diagnostics laboratories.
Dr. Benjamin Travis, CEO of Calibre Scientific, commented: “We are happy to have secured further financing to support our ongoing acquisition growth strategy. We have significantly expanded our geographic footprint over the past six months and intend to continue this rapid rate of growth by completing further acquisitions from our full pipeline of opportunities.”
Brian Wall, Founder and CEO of StoneCalibre and Calibre Scientific Chairman, added: “CVC Credit have been valuable and supportive since they came onboard in mid-2020. They have demonstrated responsiveness and efficiency in our partnership and have clearly helped fuel our international growth strategy.”
Andrew Eversfield, Managing Director of CVC Credit Partners’ U.S. Private Debt business, said: “Run by a strong management team and augmented with a supportive and engaged sponsor, Calibre Scientific is performing well and successfully executing on its ambitious growth strategy. We are very pleased to have strengthened our commitment to a company delivering high societal impact, particularly at a time when their mission is more important than ever.”