Siena Lending Group Closes a $40 Million Credit Facility for Pharmachem
February 5, 2025
Source: Siena Lending Group LLC
Siena Lending Group LLC ("Siena"), is pleased to announce the closing of a $40 million credit facility with Pharmachem Innovations, LLC (“Pharmachem” or "Company").The five-year credit facility was used to finance the acquisition of Pharmachem by Turnspire Capital Partners LLC (“Turnspire”) and to provide additional working capital for the company’s strong growth.
Ahdiv Nathan, Vice President at Turnspire, said, “Siena is a great partner who understands the complexities of corporate carve-outs, and they employed a very constructive approach to complete the acquisition.Siena not only executed and delivered on this transaction but was also extremely professional and a pleasure to work with throughout the process.”
“Pharmachem is a great acquisition for Turnspire,” said Stephen Fuscaldo, Managing Director at Siena. “Turnspire is a hands-on sponsor who excels in corporate carve-out acquisitions and provides tremendous support for their portfolio companies.We look forward to working with both Pharmachem and Turnspire as they continue to execute on their growth strategy.”
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. Siena operates across most industry sectors and provides senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.
Ahdiv Nathan, Vice President at Turnspire, said, “Siena is a great partner who understands the complexities of corporate carve-outs, and they employed a very constructive approach to complete the acquisition.Siena not only executed and delivered on this transaction but was also extremely professional and a pleasure to work with throughout the process.”
“Pharmachem is a great acquisition for Turnspire,” said Stephen Fuscaldo, Managing Director at Siena. “Turnspire is a hands-on sponsor who excels in corporate carve-out acquisitions and provides tremendous support for their portfolio companies.We look forward to working with both Pharmachem and Turnspire as they continue to execute on their growth strategy.”
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. Siena operates across most industry sectors and provides senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.
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