London, 19th June, 2012: LGC has raised approximately £80 million of additional financing from Commerzbank, GE Capital, ICG and ING in order to support the company's future growth ambitions. The four new Mandated Lead Arrangers have joined the existing syndicate that was established for Bridgepoint's original buyout comprising Bank of Ireland, HSBC Bank plc, Lloyds, Santander and Societe Generale. The financing completed on 15th June 2012.
LGC is an international leader in laboratory services, measurement standards, reference materials and proficiency testing. The company operates out of 22 countries with laboratories and centres across Europe and the US, as well as sites in Brazil, China and India.
Bridgepoint originally acquired LGC from LGV Capital in 2010 in a transaction that valued the business at £257 million. Since the original acquisition, LGC has made a number of acquisitions and the new financing provides additional facilities in order to support further acquisition opportunities.
GE Capital is one of Europe's leading providers of leveraged finance for mid-market private equity backed transactions and has a leveraged loan portfolio in excess of €5 billion across EMEA covering 160 companies in the region. The firm has been lead arranger of over 30 deals in the last 18 months and has a strong pipeline in place for the year ahead.
Michael Goodbody
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239