Private Debt Partners Inc. Senior Opportunities Fund Provides Term Loan to PharmaSmart International Inc.
TORONTO, Aug. 2, 2023 /CNW/ - Private Debt Partners Inc. (PDP), a leading private debt firm focused on Canadian mid-market opportunities, is pleased to announce that its Senior Opportunities Fund has provided a term loan to PharmaSmart International Inc., one of the largest providers and servicers of health station kiosks in North America that collect blood pressure, weight, body mass index and blood glucose results. PDP's financing will be used to refinance the incumbent lender and provide working capital to fulfill orders related to future kiosk deployments.
PharmaSmart International President and CEO, Fred Sarkis commented, "We are thrilled to partner with Private Debt Partners. This new partnership represents a key step in building a more resilient and prosperous future for our company and stakeholders. We are confident that this collaboration will not only strengthen our financial position but also empower us to deliver greater value to our customers and partners as we execute on our growth plan. PharmaSmart is now in a better position to seize the emerging opportunities with confidence and determination."
Michael Arblaster, Partner at CPS Capital, said "We are proud of the work we have done to help establish PharmaSmart as a North American leader of health station kiosks and are excited to partner with Private Debt Partners on this transaction. As PharmaSmart continues to build their industry leading position and support clients, we look forward to continuing to work with Private Debt Partners."
"We are excited to have provided a creative debt solution for PharmaSmart which we expect to facilitate the growth of their business. The combination of the strong management team and a dynamic sponsor made this a compelling credit for PDP" said Jeffrey Deacon, Co-Founder and Managing Partner at PDP.
PDP, led by Richard Kanemy, Jean-Christophe Greck, Jeffrey Deacon, and Greg Dimmer, brings together over 70 years of experience in fundraising, origination, portfolio management, and underwriting. The firm specializes in originating and structuring senior first lien term loans to Canadian mid-market companies.
For more information on Private Debt Partners Inc., please visit www.privatedebt.com.
PharmaSmart, headquartered in Rochester, NY, USA, currently serves more than 7,000 locations including retail pharmacies such as Shoppers Drug Mart, London Drugs, Walmart Canda, Safeway Canada, Metro Ontario, Le Groupe Jean Coutu, Save-On-Foods, Sobeys and Rexall. PharmaSmart also serves major worksites, military bases, University Schools of Pharmacy, hospitals and medical clinics.
SOURCE Private Debt Partners
For media inquiries, please contact: Jean-Christophe Greck, President & CIO, Private Debt Partners Inc., [email protected]
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