Golub Capital LLC enters into C$91m senior secured revolving and term credit facilities in favour of Orthotic Holdings, Inc.

February 27, 2015

Client: Golub Capital

On February 27, 2015, Orthotic Holdings, Inc. and certain of its subsidiaries and affiliates (collectively the “Orthotic Group”), entered into senior secured revolving and term credit facilities in the principal amount of US$91m.  The facility is agented by Golub Capital LLC as Administrative Agent, Sole Lead Arranger and Sole Bookrunner.  The financing is to support the acquisition of Apex Foot Health Industries by Orthotic Holdings, a Frazier Healthcare portfolio company, and to support the working capital needs of Orthotic Group.

The Orthotic Group is a leading manufacturer of custom foot orthotic devices and customized footwear, including a variety of shoe styles such as sandals, boots, walking shoes, golf shoes, and sneakers. The Orthotic Group makes footwear in partnership with Brooks Sports, Crocs, and other manufacturers. The company also offers the GaitScan gait analysis product, a diagnostic software tool used by medical practitioners to assess foot biomechanics. Its products are distributed in Canada as well as throughout the US, the UK, Scandinavia, and the Asia/Pacific region.

Norton Rose Fulbright represented Golub Capital in Canada with a team consisting of Arnold Cohen and Michele Friel (finance) and Barry Segal (tax).