Square 1 Bank Announces $12.5 Million Credit Facility to NutraMed, Inc.
SAN DIEGO, December 17, 2013-- Square 1 Bank (“Square 1”), the premier banking partner to entrepreneurs and the venture capital community, announced today it has provided a $12.5 million credit facility to NutraMed,Inc. (“NutraMed” or the “Company”), a leading manufacturer of nutraceuticals and dietary supplements. Proceeds from the facility will be used in conjunction with an equity investment from Ampersand Capital Partners (“Ampersand”) for acquisition financing and working capital.
NutraMed, based in Chino, California, offers full-service contract manufacturing of vitamins and nutritional supplements, including bottling, labeling and specialized packaging. The Company’s research and development team has extensive knowledge and expertise, guiding customers through the entire manufacturing process – from ingredient selection to product design and production. The Company has built a reputation on the highest quality service and manufacturing, meeting all of the most stringent quality standards of the industry.
“We are very pleased with the quality of service we have received from Square 1 thus far,” said Randy Weaver, CFO at NutraMed. “Scott and the team were able to provide us with a facility that catered specifically to the needs of our growing company.”
Trevor Wahlbrink from Ampersand commented, “Square 1 was able to quickly and efficiently fashion a facility appropriate for a company at this stage. Their experience supporting high growth, sponsor-backed companies has been instrumental.”
Scott Foote, senior vice president in Square 1 Bank’s life science practice added, “NutraMed’s vast customer base and continued growth make us excited to see what the future has in store for them. We look forward to growing our new partnership with NutraMed, while also expanding our relationship with key investor Ampersand Capital Partners.”
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
About NutraMed, Inc.
NutraMed, Inc. has been producing the highest quality tablet, capsule, and powder nutritional supplement products for its customers since 1998. Today NutraMed is one of the leading contract manufacturers in the marketplace, a testament to its nutritional supplement production expertise and unwavering commitment to service and quality excellence. The Company was one of the first to meet new manufacturing regulations, laying the foundation for its success over the last 10 years. For more information visit www.nutramedinc.com.
About Ampersand Capital Partners
Ampersand Capital Partners is a Boston-based private equity firm with a focus on middle market growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. To learn more about Ampersand, visit www.ampersandcapital.com.
Square 1 Bank
Dee McDougal, 919-597-7479
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