Stellus Capital Provides Financing for Northlane Capital's USDTL Investment
- Editor
- Jan 28
- 1 min read
What's Happening: Stellus Capital Management has provided senior debt financing and an equity co-investment to support Northlane Capital Partners' investment in United States Drug Testing Laboratories Inc. (USDTL), a forensic toxicology laboratory specializing in alcohol and substance use testing.
The Key Moves:
Stellus Capital provided unitranche financing for the USDTL deal.
USDTL offers forensic testing services to hospitals, health systems, courts, and employers.
The company has over 160 employees and serves more than 1,000 customers in the U.S. and internationally.
By The Numbers :
USDTL has been in operation for over 30 years.
The company is headquartered in Des Plaines, IL.
USDTL has a customer base exceeding 1,000 clients across the U.S. and internationally.
Key Quotes:
"We are thrilled to be partnering with another founder-owned company and are well-positioned to support the Company's continued expansion," said Justin DuFour, Partner at NCP.
"We believe USDTL is well positioned to benefit from NCP's experience in the lab services sector during its next phase of growth," added Colin Baker, Managing Director at Stellus.
"We plan to leverage our network and experience as we implement value creation initiatives and expand USDTL's niche testing capabilities," stated Justin DuFour.
The Bottom Line: Stellus Capital's financing support for Northlane Capital Partners' investment in USDTL represents a strategic move in the forensic toxicology sector. The deal aims to leverage NCP's industry experience to drive USDTL's growth and expand its specialized testing capabilities.
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