Maranon Capital has led a USD19.5m mezzanine debt investment to support the recapitalization of PathGroup and its subsidiaries in a transaction initiated by Primus Capital Funds.
Maranon has also provided USD10m of revolving credit and term debt as a participant in a senior credit facility.
PathGroup and its subsidiaries provide a diagnostic laboratory services including anatomic, esoteric and clinical testing as well as administrative services.
“Maranon was an excellent financing partner,” says Phil Molner (pictured), a managing director at private equity firm Primus. “They delivered a commitment for all the mezzanine required to complete the transaction and were flexible in their approach to working with the other senior lenders we selected."
Greg Long, a managing director at Maranon Capital, adds: “We are pleased to be working with Primus and the management team at PathGroup. This transaction illustrates the benefits of using one underwriting team for both the mezzanine and senior debt."
Maranon has also promoted Richard T. Jander to managing director. Jander will continue to have responsibility for marketing and transaction origination.
Maranon Capital provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions.
