MidCap Financial Closes $15 Million Senior Revolving Credit Facility to Kewaunee

BETHESDA, MD, January 31, 2023 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $15mm senior revolving credit facility to Kewaunee Scientific Corporation (“Kewaunee,” “Kewaunee Scientific,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size up to $30mm. Proceeds from the MidCap Financial credit facility will be used to support working capital requirements.

About the Company

Kewaunee was founded in 1906 and is headquartered in Statesville, North Carolina. The Company is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. Products include steel, wood, and laminate casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin worksurfaces and sinks.

About MidCap Financial              

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of September 30, 2022, MidCap Financial provides administrative or other services for over $43.6 billion of commitments*.  MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $523 billion as of September 30, 2022, in credit, private equity and real assets funds.

For more information about MidCap Financial, please visit http://www.midcapfinancial.com.

For more information about Apollo, please visit http://www.apollo.com.

*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

Contact:                            

MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com