Praesidian Capital Europe, a leading provider of senior and subordinated debt and growth capital in the United Kingdom and Europe, announced today its €8.5 million investment of first lien debt in Medical Laboratory Bremerhaven. The funds will be used to recapitalize the business while providing growth capital to allow Medical Laboratory Bremerhaven to accelerate acquisitions of smaller laboratories in its market area.
Based in Bremerhaven, the company is a leading local medical laboratory diagnostics business in the state of Bremen and part of Lower Saxony, providing full diagnostic services covering all aspects of medical laboratory testing. Established in 1972 and managed by its principal owner Dr. Willi Schumacher since 1995, Medical Laboratory Bremerhaven services approximately 650 doctors’ practices across the two regions and processes over 4,000 medical samples per day.
“We are expanding our portfolio across Europe in attractive markets with excellent growth opportunities,” stated Christian Heidl, Partner of Praesidian Capital Europe. The investment underlines Praesidian’s strategy to support owner-managed businesses such as Medical Laboratory Bremerhaven with long-term capital. We are delighted to partner with Dr. Willi Schumacher in support of the Company’s organic growth plan and acquisitions that will further strengthen its regional capabilities.”
According to Jason Drattell, Founder and Managing Partner of Praesidian Capital, “I am very pleased that our Praesidian Capital Europe team has identified another new venture in Germany with a high potential for success. Medical Laboratory Bremerhaven has shown substantial growth in just the last few years, and we expect that with this investment from Praesidian, the Company will continue on its attractive trajectory.”
Praesidian Capital Europe is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to established lower middle market businesses in the United Kingdom, Germany, and selectively in Northern Europe.