Blackstone to Help Fund Permira Deal for Biopharma Firm Ergomed
- Private credit investor lends funds for buyout of UK’s Ergomed
- More take-privates are being supported by direct lending funds
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Blackstone Inc.’s credit unit is lending funds to support Permira Holdings’ takeover of biopharmaceutical services firm Ergomed Plc, the latest sign that private lending firms are taking buyout business from banks.
Investment firm Permira agreed to buy UK-listed Ergomed for 1,350 pence per share in cash, according to a statement on Monday. Blackstone is supporting the acquisition with a £200 million ($253 million) unitranche loan and an £85 million delayed draw term loan, public filings showed.