LGC, the laboratory services business backed by UK mid-market private equity firm Bridgepoint, has raised around £80m of additional financing from Commerzbank, GE Capital, ICG and ING to support the company’s future growth plans.
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, Lloyds, Santander and Societe Generale.
LGC provides 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 £257m.
LGC has made a number of acquisitions under Bridgepoint’s ownership, and the new financing will provide additional facilities to support further acquisition opportunities.
GE Capital, which has been lead arranger of over 30 deals in the last 18 months, provides leveraged finance for mid-market private equity-backed deals and has a leveraged loan portfolio in excess of €5bn across EMEA, covering 160 companies in the region.
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