Chicago-based direct lending specialist Twin Brook Capital Partners acted as the administrative agent on financing to support Inverness Graham-backed KICTeam’s add-on acquisition of Teknipure, a specialty cleaning company focused on biopharmaceuticals and medical devices.
Twin Brook is the middle market direct lending arm of Angelo Gordon and completed the financing in late August, according to a person familiar with the transaction.
Inverness Graham Investments owns KICTeam and is a $1 billion private investment firm that focuses on high growth manufacturing, technology and services companies.
KICTeam is a provider of proprietary cleaning solutions for high-cost-of-failure environments and products such as electronic devices and fintech hardware. The acquisition of Arizona-based Teknipure brings on board cleaning expertise for biopharmaceutical, medical devices and advanced manufacturing markets.
“The global COVID-10 pandemic has heightened the need for these solutions and prioritized the need for flexible supply chain with operations in the U.S.,” said Chris Heiland, vice president of Teknipure. “By partnering with Inverness Graham and KIC, we will be able to invest in U.S.-based capacity and seamlessly accelerate growth with our customers.”
As for Twin Brook, the firm was founded in 2014 with a focus on providing cash-flow based on financing solutions for the middle market private equity community. Since inception the team has closed on more than 500 transactions with 80-plus different middle market private equity firms.
Twin Brook offers tailored financing solutions for leveraged buyouts, recapitalizations, add-on acquisitions, growth capital and other situations for companies with EBITDA between $3 million and $50 million, with a specific emphasis on companies with $25 million of EBITDA and below.