LBC Credit Partners Provides $4.5 Million One-stop Credit Facility for MCMC, LLC, a Leading Managed Care and Cost Containment Company
Jul 20, 2010
Deal announcements
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $42.5 million one-stop facility to support the refinancing of MCMC LLC, a diversified managed care and cost containment provider primarily servicing insurance companies, third party administrators, self insured employers and governmental agencies.
"We are delighted to support the growth initiatives of such a well positioned company like MCMC," said John Brignola, Co-Founding Partner of LBC. "This transaction is further confirmation of our broad array of financing solutions for middle market companies and private equity firms."
"Working with LBC has been a pleasure, they have been a creative and responsive partner throughout this process," said Mike Lindberg, President and CEO of MCMC.
"LBC has been a dependable and trusted partner to our firm for many years, and we look forward to continuing this relationship," said Robert Brown, Managing Partner from MVP Capital Partners, the company�s equity sponsor.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, mezzanine debt and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America. For additional information please visit www.lbccredit.com.
MCMC is a national provider of managed care and cost containment services, headquartered in Boston, MA. The core service offering includes medical bill review, specialty bill audit, telephonic case management, UR, peer review, independent medical exams, medicare-set-aside, surveillance and litigation support. Our management team has long-term industry relationships, and extensive operating experience providing flexible service solutions through proprietary technology. MCMC's clients include managed care companies, workers' compensation, auto, liability, disability and group health insurers, as well as TPAs, PBMs, self-insured employers, labor unions, law firms and state agencies. For additional information please visit www.mcmcllc.com or email [email protected].
MVP Capital Partners is a private equity firm based in Radnor, PA, just outside of Philadelphia, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. Founded in 1987, the firm manages over $200 million in capital. MVP leverages its professionals� expertise and its capital by partnering with accomplished management teams to build successful companies. Deploying a sector-diversified portfolio strategy, MVP invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies. For more information, visit www.mvpcapitalpartners.com.