Praesidian Capital Provides $6 Million to Finance Recapitalization of Meta Pharmaceutical Services with DFW Capital Partners to Facilitate Growth
NEW YORK September 30, 2010 Praesidian Capital, a leading provider of mezzanine capital for small and mid-sized companies, has invested $6 million in subordinated debt in Meta Pharmaceutical Services, a leading sales and marketing data services provider. The investment supports the recapitalization of Meta Pharmaceutical Services by DFW Capital Partners and management.
Meta Pharmaceutical Services is a leading provider of sales and marketing data and services to the pharmaceutical industry. The Company is engaged in three service lines: Data Reporting and Management, Direct Mail and Fulfillment, and Custom Programs. Meta s Data Reporting and Management as well as Direct Mail and Fulfillment service lines use sophisticated sales analytics and reporting tools to enhance applications and allow pharmaceutical companies to identify and communicate with physicians that are most likely to prescribe a given pharmaceutical product. The Company s Custom Programs service line assists pharmaceutical clients with administrative speaker, patient assistance, and voucher/rebate programs.
Meta Pharmaceutical Services has sustained solid revenue and EBITDA growth amid the recession which can be attributed to its solid management team and long-term client relationships, said Neil Marks, Managing Partner at Praesidian Capital. We are very excited to be a part of a company that is dedicated to its customer base and driven to explore new innovations for sustainable growth.
We are delighted to have a long-term investor like Praesidian Capital as our partner, said Tom Lawrence, CEO of Meta Pharmaceutical Services. With the financial support of Praesidian Capital and DFW Capital Partners, we are confident we will continue to attract new clients and additional engagements by developing and introducing new and innovative products and services. Meta Pharmaceutical Services has a reputation for leading sales and marketing data services to the pharmaceutical industry, said Keith Pennell, General Partner at DFW Capital Partners. With the support of Praesidian Capital, the Company is in prime position for further development of products and services. to help their clients grow their businesses.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses, providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian Capital invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian Capital manages over $400 million in committed capital. For more information, visit www.praesidian.com.
About Meta Pharmaceutical Services, LLC
Headquartered in Blue Bell, PA, Meta provides database management, statistical sales analytics and direct marketing services to pharmaceutical companies. The Company was established in 2000 by the current management team. For more information, visit www.metapharm.net/site/.
About DFW Capital Partners
DFW Capital Partners is a leading private equity investment firm focused on the lower middle market. The firm specializes in outsourced healthcare and business services, and has extensive experience in companies serving the pharmaceutical industry, including clinical services, specialty distribution, automated dispensing and pharmacy technology. DFW has offices in Teaneck, NJ and Washington, DC. For more information, visit http://www.dfwcapital.com/.