Golub Capital provides $12.0M of senior subordinated debt to support recapitalization of IDT

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 and CEO.  "The financing provided by Golub Capital will help ensure that IDT maintains a strong balance sheet and has the flexibility necessary to pursue our ambitious plans for the future."

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Integrated DNA Technologies. (2019, June 20). Golub Capital provides $12.0M of senior subordinated debt to support recapitalization of IDT. News-Medical. Retrieved on July 23, 2024 from https://www.news-medical.net/news/20100424/Golub-Capital-provides-24120M-of-senior-subordinated-debt-to-support-recapitalization-of-IDT.aspx.

  • MLA

    Integrated DNA Technologies. "Golub Capital provides $12.0M of senior subordinated debt to support recapitalization of IDT". News-Medical. 23 July 2024. <https://www.news-medical.net/news/20100424/Golub-Capital-provides-24120M-of-senior-subordinated-debt-to-support-recapitalization-of-IDT.aspx>.

  • Chicago

    Integrated DNA Technologies. "Golub Capital provides $12.0M of senior subordinated debt to support recapitalization of IDT". News-Medical. https://www.news-medical.net/news/20100424/Golub-Capital-provides-24120M-of-senior-subordinated-debt-to-support-recapitalization-of-IDT.aspx. (accessed July 23, 2024).

  • Harvard

    Integrated DNA Technologies. 2019. Golub Capital provides $12.0M of senior subordinated debt to support recapitalization of IDT. News-Medical, viewed 23 July 2024, https://www.news-medical.net/news/20100424/Golub-Capital-provides-24120M-of-senior-subordinated-debt-to-support-recapitalization-of-IDT.aspx.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
IDT partners with Washington University to increase access to new NGS technologies