GREENWICH, CT, Jan. 7, 2015 (GLOBE NEWSWIRE) -- Fifth Street Asset Management Inc. (NASDAQ:FSAM) ("FSAM") announced today that its affiliates, including Fifth Street Finance Corp. (NASDAQ:FSC) ("FSC") and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) ("FSFR"), have co-invested in a $175 million one-stop financing facility in connection with the refinancing of Ameritox Ltd. ("Ameritox") by Sterling Partners. A leading provider of pain medication monitoring, Ameritox offers laboratory services and management tools to help clinicians identify potential medication abuse or misuse by patients. The financing facility consists of a first lien term loan and a revolving credit facility. Fifth Street Management LLC, FSC's and FSFR's investment adviser, served as Lead Arranger and Administrative Agent for the transaction.
Ameritox represents the Fifth Street platform's seventh transaction with Sterling Partners, a growth-oriented private equity firm with approximately $5 billion of assets under management. Sterling Partners focuses on investing in small and mid-market companies across industries with positive, long-term trends including healthcare, education and business services.
"Fifth Street's flexibility and partnership approach throughout the Ameritox transaction process exemplifies why it continues to be a lender of choice for our firm," said Garrick Rice, a Managing Director at Sterling Partners, adding, "After gaining an appreciation for the business, Fifth Street was able to offer multiple capital structure alternatives and ultimately provide an attractive financing solution in support of the long-term growth of the company."
"Ameritox is a true pioneer and leader in the pain management testing industry," noted Sunny Khorana, Managing Director at Fifth Street, adding, "We look forward to working with the company's exceptional management team, our longstanding partner, Sterling Partners, Bain Capital Ventures, Sequoia Capital and other financial investors to support the business through its next phase of growth."
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a rapidly growing credit-focused asset manager. The firm has over $6 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With a 16-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street is led by a seasoned management team that has issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform are supported by approximately 100 professionals across locations in Greenwich, Chicago, Palo Alto and Dallas. For more information, please visit fsam.fifthstreetfinance.com.
About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. Founded in 1983, Sterling has invested billions of dollars, guided by the company's stated purpose, INSPIRED GROWTH®, which describes Sterling's approach to buying differentiated businesses and growing them in inspired ways. Sterling focuses on partnering with like-minded founders and entrepreneurs and investing growth capital in small and mid-market companies in industries with positive, long-term trends including healthcare, education and business services. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of operations and functional experts based in the firm's offices in Chicago, Baltimore and Miami. For more information, please visit www.sterlingpartners.com.
About Ameritox Ltd.
Ameritox helped pioneer the prescription drug monitoring necessary to address the national epidemic of prescription drug misuse, abuse and diversion. As the nation's trusted leader in Pain Medication Monitoring SolutionsSM, Ameritox provides medical and business professionals with data-driven analysis and tailored solutions that can improve patient care and prevent tragedy. Ameritox, headquartered in Baltimore, MD, has 800 employees nationwide and laboratory facilities in Greensboro, NC.
Forward-Looking Statements
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