{"id":26672,"date":"2020-06-08T00:00:00","date_gmt":"2020-06-08T00:00:00","guid":{"rendered":"https:\/\/www.clairfield.com\/clairfield-advises-richards-packaging-income-fund-on-the-acquisition-of-clarion-medical-technologies\/"},"modified":"2022-08-08T13:40:47","modified_gmt":"2022-08-08T13:40:47","slug":"clairfield-advises-richards-packaging-income-fund-on-the-acquisition-of-clarion-medical-technologies","status":"publish","type":"post","link":"https:\/\/www.clairfield.com\/es\/clairfield-advises-richards-packaging-income-fund-on-the-acquisition-of-clarion-medical-technologies\/","title":{"rendered":"Richards Packaging Income Fund (TSX: RPI.UN) acquires Clarion Medical Technologies"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-18592\" src=\"https:\/\/www.clairfield.com\/wp-content\/uploads\/2022\/05\/richards-packaging.png\" alt=\"\" width=\"192\" height=\"70\" \/>Richards Packaging Income Fund (TSX: RPI.UN) completed the acquisition of all of the outstanding shares of Clarion Medical Technologies, a Canadian provider of medical, aesthetic, vision care and surgical equipment, and consumables. The purchase price of CAD\u00a0<span class=\"xn-money\">64.4 million<\/span>\u00a0was financed by a CAD\u00a0<span class=\"xn-money\">35.0 million<\/span>\u00a0increase to the term credit, a CAD\u00a0<span class=\"xn-money\">2.9 million<\/span>\u00a0draw down on the revolving credit, CAD\u00a0<span class=\"xn-money\">16.0 million<\/span>\u00a0of cash on hand and a CAD\u00a0<span class=\"xn-money\">10.5 million<\/span>\u00a0holdback from the vendors.\u00a0 This purchase price is subject to additional consideration contingent on Clarion&#8217;s future earnings.<\/p>\n<p>The Fund owns Richards Packaging Inc., the leading packaging distributor in Canada, and third largest in North America. The company was founded in 1912 and currently serves over 14,300 regional companies from 18 locations throughout North America.<\/p>\n<p>Clarion Medical Technologies\u00a0 specializes in aesthetic, otolaryngology, gynecology, urology and vision applications with products and services offered that include laser technologies, diagnostic equipment, skincare, dermal fillers, intra-ocular lenses, laser fibers, clinical education, laser safety, technical support, and regulatory and marketing services.<\/p>\n<p>The acquisition will\u00a0strengthen the position of Richards Packaging in the healthcare market, where its current platform includes Richards Pharma Solutions, Healthmark, and Dispill. It will also allow Clarion Medical to leverage the considerable resources of Richards Packaging to expand the reach of its healthcare innovations. Richards Packaging has a robust acquisition strategy and a committed debt facility of CAD 65 million and CAD 50 million accordion.<\/p>\n<p>Clairfield International in Canada acted as exclusive financial advisor to Richards Packaging.<\/p>\n<p>Read more about the transaction and Clairfield&#8217;s history of success advising public companies on their midmarket acquisitions here: <a href=\"https:\/\/www.clairfield.com\/wp-content\/uploads\/Deal-of-the-month-2020.06-Richards.pdf\">Deal of the month: Richards Packaging<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Richards Packaging Income Fund (TSX: RPI.UN) completed the acquisition of all of the outstanding shares of Clarion Medical Technologies, a Canadian provider of medical, aesthetic, vision care and surgical equipment, and consumables. The purchase price of CAD\u00a064.4 million\u00a0was financed by a CAD\u00a035.0 million\u00a0increase to the term credit, a CAD\u00a02.9 million\u00a0draw down on the revolving credit, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":33072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[347],"sector":[13],"class_list":["post-26672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-notable-deals","sector-healthcare"],"acf":{"intro_text":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Richards Packaging Income Fund (TSX: RPI.UN) acquires Clarion Medical Technologies - Clairfield<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.clairfield.com\/clairfield-advises-richards-packaging-income-fund-on-the-acquisition-of-clarion-medical-technologies\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richards Packaging Income Fund (TSX: RPI.UN) acquires Clarion Medical Technologies - Clairfield\" \/>\n<meta property=\"og:description\" content=\"Richards Packaging Income Fund (TSX: RPI.UN) completed the acquisition of all of the outstanding shares of Clarion Medical Technologies, a Canadian provider of medical, aesthetic, vision care and surgical equipment, and consumables. 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