Lineage Capital has acquired Bioreclamation through a recapitalization. Bioreclamation provides biological research materials to life science and pharmaceutical companies. Amalgamated Capital served as the lead arranger and administrative agent for a $12.5 million senior secured credit facility in support of the deal.
The Biotechnology and Pharmaceutical Industry has seen 61 private equity investments since the beginning of 2008, according to the PitchBook Platform. The industry held up relatively well in 2009 with only a 27% drop in deal flow, compared to the 50% drop in overall PE activity in 2009. The most active sectors have been Pharmaceutical with 28 deals, Drug Discovery with 11 and Biotechnology with 5. H.I.G. Capital's recently completed $278 million buyout of Allion Healthcare was actually the second largest deal in the industry, just behind the Nordic Capital Partners-backed Nycomed add-on of Bradley Pharmaceuticals for $347 million in 2008.