Bear Stearns launched a credit for Masterplan last week with a $130 million first lien, a $20 million revolver and a $42 million second lien that has already been sold. Berkshire Partners is contributing $153 million in equity and there is $17 million of rollover equity. A phone call to discuss the financing was scheduled for last Thursday.
Masterplan was previously owned by Three Cities Research and Camden Partners. Headquartered in Chatsworth, Calif., it provides services and maintenance for medical equipment with operations in 32 states. A call to Carrie Blankenheim, cfo, was not returned. According to a press release Ares Capital is also providing debt financing. A call to a managing director at Berkshire Partners was not returned.
As part of its investment in Masterplan, Berkshire also invested in ReMedPar, the largest independent provider of multi-vendor sourced and refurbished parts for medical equipment in the world. It is located in Goodlettsville, Tenn.