Integrated DNA Technologies, Inc., a Coralville, Iowa-based supplier of custom nucleic acids in the United States, serving academic, government, and commercial researchers in biotechnology, clinical diagnostics, and pharmaceutical development, has received $12.0m of senior subordinated debt from Golub Capital.
The funds will be used to support the recapitalization and ongoing growth of the company.
IDT’s business is the manufacture of custom, synthetic DNA and RNA oligonucleotides and genes. Today, the company synthesizes and ships an average of 36,000 custom oligos per day to more than 86,000 customers worldwide. IDT’s manufacturing locations include facilities in Coralville, Iowa; San Diego, California; and Leuven, Belgium.
This transaction marks the first investment made by GC 2009 Mezzanine Partners, L.P., which is Golub Capital’s sixth fund dedicated to middle market mezzanine debt financings. The fund targets attractive net returns by investing primarily in mezzanine and second lien debt investments in U.S. middle market companies.