New York, July 20, 2015 – Behrman Capital, a private equity investment firm based in…
Behrman Capital Portfolio Company Atherotech Completes Recapitalization
New York — July 9, 2013—Behrman Capital, a private equity investment firm based in New York and San Francisco, today announced that its portfolio company Atherotech has completed a dividend recapitalization. Behrman Capital acquired Atherotech, a Birmingham, Alabama-based provider of advanced cardiometabolic testing services, in December 2010.
The Atherotech recapitalization was led by Madison Capital Funding and Regions Bank, and included a new term loan and revolving credit facility. Proceeds from the recapitalization were used, along with cash on hand, to repay existing debt and pay a cash dividend to shareholders.
Grant G. Behrman, Managing Partner of Behrman Capital, said, “We are very pleased with our investment in Atherotech, which has performed very well since becoming part of our portfolio two and a half years ago. Through this successful recapitalization, our investors received a significant cash dividend while retaining full ownership of this growing company. Atherotech remains conservatively leveraged and has the financial flexibility to continue investing in the business to further enhance its value. Behrman is excited to support Mike Mullen and his management team as they work to capitalize on Atherotech’s many exciting growth opportunities.”
Goodwin Procter LLP acted as legal adviser to Behrman Capital on the transaction.
About Behrman Capital
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are primarily focused in five industries: health care, specialty manufacturing, business to business outsourcing, defense and information technology. The firm has raised five funds with a combined capital base in excess of $3.0 billion. For more information, please visit www.behrmancap.com.
About Atherotech
Atherotech is a cardio-diagnostic company focusing on direct measurement of the comprehensive lipid profile using the company’s VAP (Vertical Auto Profile) technology. The VAP technology is a patented density gradient ultracentrifugation that directly measures the cholesterol content of all lipids, components, and subclasses. The company provides its unique testing services to physicians, hospitals, clinics, and other laboratories throughout the United States. Atherotech is a CLIA approved clinical reference laboratory located in Birmingham, Alabama.
Media Contacts:
James David or Mark Semer
Kekst and Company