Praesidian Capital Leads $7.5 Million Debt Investment in Meta Pharmaceutical Services to Support Merger with NexGen RxMarketing
NEW YORK, July 8, 2013-- Praesidian Capital (“Praesidian” or “the Firm”), a leading provider of mezzanine capital for small and mid-sized companies, announced today that it led a $7.5 million subordinated debt investment in Meta Pharmaceutical Services (“Meta”) to support its merger with NexGen RxMarketing, LLC (“NexGen”). Praesidian had made a previous $6 million subordinated debt investment in Meta in its recapitalization by DFW Capital Partners and management.
Meta Pharmaceutical Services is a leading provider of sales and marketing data and services to the pharmaceutical industry with three major service lines: Data Reporting and Management, Direct Mail and Fulfillment, and Custom Programs. NexGen is a leading provider of digital marketing platforms for pharmaceutical companies to deliver content to health care providers and internal sales teams.
“We are pleased to see Meta enhance its already strong market position with this new acquisition,” said Glenn Harrison, Praesidian Partner. “The two companies complement each other well, and we anticipate benefits for both the businesses and their customers.”
According to Brian Tilley, DFW General Partner, “The combination of Meta and NexGen creates a multi-channel marketing services and communications company that can deliver highly targeted, data-driven promotional products and services to the pharmaceutical industry. We appreciate Praesidian’s investment in this business.”
About Meta Pharmaceutical Services, LLC
Headquartered in Blue Bell, Penn., Meta provides database management, statistical sales analytics and direct marketing services to pharmaceutical companies. The company was established in 2000 by the current management team. For more information, please visit www.metapharm.net.
About NexGen RxMarketing, LLC
Headquartered in Bensalem, Penn., NexGen is a provider of digital marketing platforms for pharmaceutical brand teams to deliver content to health care providers and internal sales teams. NexGen specifically serves the marketing and regulatory needs of the pharmaceutical industry and its customers include brand teams at major pharmaceutical companies such as Johnson & Johnson, Merck and Novartis. For more information, please visit www.nexgenrxmarketing.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, please visit www.praesidian.com.
About DFW Capital Partners
DFW Capital Partners is a leading private equity investment firm focused on the lower middle market. The firm specializes in outsourced healthcare and business services, and has extensive experience in companies serving the pharmaceutical industry, including clinical services, specialty distribution, automated dispensing and pharmacy technology. DFW has offices in Teaneck, NJ and Washington, D.C. For more information, please visit www.dfwcapital.com.
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