New, five-year facility offers greater financial flexibility
QPS Holdings, LLC, a leading full-service GLP/GCP-compliant contract research organization providing testing services to support preclinical and clinical research and development, has preemptively negotiated a new senior credit facility with a lending group comprised of three leading US financial institutions.
The senior credit facility closed on March 9, 2017 and will mature in March 2022. The facility is comprised of a EURO and US denominated term loan, along with a revolving line of credit that will provide QPS with additional financial flexibility for the next five years.
“This debt financing cements a financing partnership that will provide QPS with additional financial flexibility and resources,” said Greg Lavin, QPS Vice President of Finance. “The facility helps QPS with short term capital needs while also providing additional liquidity to facilitate further growth and investment in QPS for the five years to come.”
Portions of the proceeds from the senior credit facility have already been put to use. QPS has acquired the minority ownership interest held by third parties in QPS Bioserve India Private Limited, its business located in Hyderabad, India. QPS India is now a wholly owned QPS subsidiary. In addition, since the transaction, QPS has executed its strategy to recapitalize QPS Holdings, LLC and reduce the ownership interest that certain members hold in QPS Holdings, LLC.
About QPS Holdings, LLC
Founded in 1995, QPS is a GLP/GCP-compliant contract research organization (CRO) and life sciences products supplier supporting discovery, preclinical, and clinical drug development, providing quality services to pharmaceutical and biotechnology clients worldwide. QPS linearly integrated core competencies include: neuropharmacology, DMPK, liver research, toxicology, bioanalysis, translational medicine, and clinical research program management. QPS regional laboratories and testing facilities are located at company headquarters in Newark, DE; Springfield, MO; Fargo, ND; Research Triangle Park, NC; Hollywood, FL; South Miami, FL, USA; Groningen, The Netherlands; Graz, Austria; Hyderabad, India; Barcelona, Spain; and Taipei, Taiwan.
For more information, visit: https://www.qps.com
Contact:
Reinier Schwietert, PhD
VP of Global Marketing
Tel: +31 651148308
Email: reinier.schwietert@qps.com
