RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, announced it has completed the acquisition of Santa Cruz Nutritionals (SCN) from Levine Leichtman Capital Partners. SCN, founded in 1968, is a leading manufacturer of gummy vitamin, mineral, supplement and other nutraceutical products in the United States. Financial terms of the transaction were not disclosed.
As part of the transaction and to finance further growth opportunities for the company, RoundTable facilitated the successful completion of new senior credit facilities and a private placement of senior subordinated notes. The senior credit facilities were led by GE Capital, Healthcare Financial Services. The senior subordinated notes were provided by RoundTable Capital Partners II ("Capital Fund II") and a co-investor. Capital Fund II is RoundTable's captive subordinated debt fund that makes fixed rate subordinated debt investments alongside the equity investments of RoundTable's equity funds. Sidley Austin LLP acted as exclusive legal advisor to RoundTable in this transaction.
RoundTable's investment strategy targets companies in the healthcare industry that fall within the expertise and experience of the firm's operating and transaction principals. Santa Cruz Nutritionals is RoundTable's fourth platform investment from its $600 million Fund III.
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million.
Levine Leichtman Capital Partners is a Los Angeles-based investment firm that manages approximately $6.5 billion of institutional investment capital through private equity partnerships, distressed debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P and Levine Leichtman Capital Partners Private Capital Solutions II, L.P.