Thompson Street Capital Partners (TSCP), in partnership with Arsenal Capital Partners, a New York City-based management and investment firm, announced today that they have recapitalized BioreclamationIVT (www.bioreclamationivt.com). The new partnership will provide additional resources and capital to continue BioreclamationIVT’s growth strategy. TSCP will retain a minority equity ownership interest in the company.
BioreclamationIVT is a worldwide provider of biological products to life sciences and pharmaceutical companies. Headquartered in Westbury, New York, the company was acquired by TSCP and management in April, 2013, to build a leading biological products platform with global reach. Other members of that platform, now rebranded under the BioreclamationIVT umbrella, are Baltimore, Maryland-based In Vitro Technologies; UK-based SeraLabs; and Chestertown, Maryland-based ILSbio.
Said Bob Dunn, Managing Director of TSCP, “This recapitalization allowed us to generate a strong return for our investors while simultaneously providing additional resources to fuel the company’s continued growth.” Added Dunn, “Together with the talented management team at BioreclamationIVT, we were able to establish a leading position in the specialty biological products space. We are excited to work with our new partners at Arsenal to facilitate the next stage of growth at BioreclamationIVT.”
Perella Weinberg Partners and Sidley Austin, LLP advised the company through this transaction. Golub Capital, the company’s existing lender, provided debt financing for the transaction.