Franklin Square Capital Partners, a manager of business development companies (BDCs), has originated a unitranche term loan for PSKW, LLC (PSKW), a developer and marketer of co-pay assistance (CPA) programs for pharmaceutical drugs.
The financing supported the acquisition of PSKW by Genstar Capital (Genstar), a San Francisco, CA-based private equity investment firm focused on actively investing in high-quality companies for more than 20 years. In addition, the financing also supported PSKW's add-on acquisition of PDR Network, LLC, a provider of behaviour-based prescription management programs.
The financing was provided by FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by affiliates of Franklin Square and sub-advised by GSO/Blackstone Debt Funds Management LLC (GDFM), an affiliate of GSO Capital Partners LP (GSO).
"Our strong relationship with Genstar and the size of our direct-lending platform help ensure that we have a strong capital base to draw upon to meet the financing needs for growing companies like PSKW when opportunities arise," says Michael C Forman, Chairman and Chief Executive Officer of FSIC, FSIC II and FSIC III.
"PSKW is a top player in the industry by a variety of metrics," commented Brad Marshall, Senior Managing Director and Senior Portfolio Manager at GDFM. "With its extensive operating footprint, new technologies and a history of successful growth, we believe PSKW is poised for continued success."
"The financial backing from Franklin Square and GSO and continued support of Genstar position us to further penetrate the expanding CPA industry," says Steve Freeman, President of PSKW.
Specific terms of the financing have not been disclosed.