Square 1 Bank (“Square 1”), the premier banking partner to entrepreneurs and the venture capital community, announced today it has provided a $12.5 million credit facility to NutraMed,Inc. (“NutraMed” or the “Company”), a leading manufacturer of nutraceuticals and dietary supplements. Proceeds from the facility will be used in conjunction with an equity investment from Ampersand Capital Partners (“Ampersand”) for acquisition financing and working capital.
NutraMed, based in Chino, California, offers full-service contract manufacturing of vitamins and nutritional supplements, including bottling, labeling and specialized packaging. The Company’s research and development team has extensive knowledge and expertise, guiding customers through the entire manufacturing process – from ingredient selection to product design and production. The Company has built a reputation on the highest quality service and manufacturing, meeting all of the most stringent quality standards of the industry.
“We are very pleased with the quality of service we have received from Square 1 thus far,” said Randy Weaver, CFO at NutraMed. “Scott and the team were able to provide us with a facility that catered specifically to the needs of our growing company.”
Trevor Wahlbrink from Ampersand commented, “Square 1 was able to quickly and efficiently fashion a facility appropriate for a company at this stage. Their experience supporting high growth, sponsor-backed companies has been instrumental.”
Scott Foote, senior vice president in Square 1 Bank’s life science practice added, “NutraMed’s vast customer base and continued growth make us excited to see what the future has in store for them. We look forward to growing our new partnership with NutraMed, while also expanding our relationship with key investor Ampersand Capital Partners.”