CVC Credit Partners has provided financing facilitating Sweden-based medical firm Trimb Healthcare’s purchase of two pharmaceutical brands. The brands are being purchased from pharmaceutical giant Johnson & Johnson.
According to a company announcement, CVC is providing a €50 million unitranche facility to enable the purchase of the brands Pevaryl and Fungoral. The announcement adds Trimb will only own the rights to the brand in certain countries.
Further details regarding the deal could not be determined by time of publication. The financing is being provided from CVC’s European Direct Lending Fund.
The deal represents CVC’s 24th debt investment in Europe. The firm recently provided financing for UK-based holiday home manufacturer Willerby as well as for drilling waste management company TWMA.
Neale Broadhead, managing director and portfolio manager at CVC, told PDI the deal represented CVC’s second debt deal in the Nordics. The firm provided financing for Norwegian-based Eneas Energy in 2016.
Trimb, a specialist medical supplier, is owned by private equity sponsor Avista Capital. Avista has been a private equity sponsor of Trim since 2015.
Pevaryl is a topical ointment, designed to treat fungal infections such as athlete’s foot and ringworm. Fungoral is an anti-fungal shampoo, also designed to fight infections.