Penfund leads $70 mln facility for dividend recap of CBI Health
Canadian private equity firm Penfund has invested $55 million in CBI Health Group, a Toronto-based provider of outpatient rehabilitation and home health services. The investment was the lead order for a new $70 million subordinated credit facility to support a dividend recapitalization of CBI. Penfund also acted as sole underwriter and agent of the facility. CBI, which operates more than 250 facilities across Canada, is a portfolio company of OMERS Private Equity (OPE). OPE acquired it in 2011 from Clearspring Capital Partners. Penfund, a junior capital provider to mid-market companies, is currently investing from Penfund Capital Fund V, which raised $724 million in 2016.
21 February 2018•2 mins read
