EQT Credit provides unitranche financing for Mabtech
EQT Credit, through its Direct Lending investment strategy, is pleased to announce it has provided a senior secured financing to support IK Investment Partners’ majority acquisition of Mabtech AB (“the Company”). The transaction is expected to close in December 2019.
Founded in 1986 and based in Stockholm, Sweden, Mabtech is a leading developer and manufacturer of high-quality monoclonal antibodies and detection platforms for in vitro applications in life science research. The Company’s kits and antibodies are used to study immune responses in a wide range of applications, including infectious disease, cancer, allergies and are also commonly used as monitoring tools in vaccine trials.
Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “EQT Credit is pleased to be supporting IK Investment Partners and Mabtech as they embark on the next phase of growth. Mabtech is a leading specialist in immune monitoring, known for its high-quality antibodies and pioneering ELISpot and FluoroSpot kits.”
Alexandre Hökfelt, Director at EQT Partners’ Credit team, Investment Advisor to EQT Credit, added: “EQT Credit is happy to partner with IK Investment Partners on this exciting transaction. As a R&D driven company, Mabtech has an important role in having a positive impact through its use in life science research and finding new advances in medicine. We would like to thank the advisors in the EQT Network who provided valuable insights to the EQT Credit deal team throughout the due diligence process.”
Mabtech is the 21st investment made by EQT Mid-Market Credit II and the fifth in the Nordic countries.
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit, +44 203 372 9424
Alexandre Hökfelt, Director at EQT Partners, Investment Advisor to EQT Credit, +44 203 372 9414
EQT Press Office, +46 8 506 55 334, firstname.lastname@example.org
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.