Varagon Capital Partners (Varagon) announced it is serving as administrative agent on a unitranche credit facility to support the acquisition of GCM by Avista Capital Partners. Founded in 1983 and headquartered in Union City, California, GCM is the premier MedTech outsourced precision manufacturer.

“We are excited to partner with Avista Capital Partners along with the GCM management team to support their growth initiatives,” said Michael Broderick, Managing Director at Varagon.

“Varagon was a great partner for Avista Capital Partners on this transaction. They understood our financing needs, and operated with professionalism and expediency. We look forward to working with them in the future,” said Rob Girardi, Partner at Avista.

Avista Capital Partners is a private equity firm that invests in leading healthcare companies. It focuses on mid-sized companies concentrated in the healthcare sectors like pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution, and consumer-driven healthcare. The firm is headquartered in New York, New York and was founded in 2005.