Mezzanine specialist Praesdian Capital has invested in Meta Pharmaceutical Services to back its merger with another marketing group.
The New York-based private debt manager invested $7.5 million via a subordinated debt instrument in MPS, which provides sales and marketing services to the pharmaceutical industry. It is the second time Praesidian has invested in the business, having previously made a $6 million subordinated debt investment as part of a recapitalisation of the company by sponsor DFW Capital Partners and its management team.
This latest investment will support MPS’ merger with NexGen RxMarketing, which specialises in delivering medical education content to healthcare providers.
Praesidian manages more than $700 million in committed capital.