NewSpring, Tecum Capital, Leedon Park and PNC Provide Growth Investment in Spirit Pharmaceuticals
April 27, 2021
An investor group led by NewSpring Mezzanine, alongside Tecum Capital, Leedon Park Capital and PNC Bank provided a growth capital injection into Spirit Pharmaceuticals LLC, backing CEO and founder Ajoy Joshi. The funding will support the Long Island-based private-label developer, packager and distributor of over-the-counter pharmaceutical products as it expands capacity (two additional facilities, 11 packaging lines) and deepens relationships with big-box retailers, medical distributors and e-commerce customers.
- Buyers
- NewSpring Mezzanine (NewSpring Capital), Tecum Capital (Tecum Capital Partners), Leedon Park Capital LLC, PNC Bank (PNC Financial Services Group)
- Targets
- Spirit Pharmaceuticals LLC
- Industry
- Pharmaceuticals
- Location
- New York, United States
- Transaction Type
- Growth capital
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