CVC Credit Partners ("CVC Credit") announced today that CVC Credit's European Direct Lending business has provided its second round of financing to Trimb Healthcare ("Trimb"), supporting its acquisition of BioClin BV ("BioClin"). CVC Credit has also agreed to provide financing to support Trimb's acquisition of several well-established skincare brands from CCS Healthcare, the market-leading provider of skincare, hygiene and first aid products in Scandinavia, which is expected to close in Q1 2019, increasing total financing commitments to c.€100 million.
Trimb, sponsored by lead investor Avista Capital since 2015, is a niche pharmaceutical company, focusing on the development, sales and marketing of branded over-the-counter pharmaceuticals and consumer healthcare products. BioClin is a leading intimate healthcare company, based in Delft, Netherlands. The BioClin portfolio includes several well-known, all-natural women’s healthcare brands, such as Multi-Gyn and Multi-Mam.
Magnus Nylén, CEO of Trimb Healthcare, said: "We are excited about the two deals, and very happy we could achieve these important transactions with CVC's support. Their understanding of the market dynamics and how we can grow the business with extended scale in both Skincare and Intimate health has made the process smooth. We are very excited about our future and welcome MultiGyn, MultiMam and CCS to our portfolio."
Christopher Fowler, Managing Director at CVC Credit Partners added: "We are delighted to continue our support for Trimb's vision of consolidating the fragmented OTC pharma market. BioClin has been a leading provider of woman's health products for over 20 years and is a perfect fit for Trimb as it looks to strengthen its position in the over-the-counter market, particularly across new geographies. We look forward to continuing our partnership with the company as they continue to grow through further acquisitions."