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Redmond & Greer Pharmacy Supply (“Redmond & Greer” or the “Company”), a wholesale pharmaceutical distributor specializing in prescription drugs, has been recapitalized with a new credit facility, consisting of a revolving line of credit and term loan. The Company plans to use the revolving line of credit to fund incremental purchases of generic pharmaceutical products to better service independent pharmacies across the United States. Additionally, the Company has distributed a dividend to its shareholders just one year into its partnership with Trive Capital (“Trive”). Redmond & Greer funded the distribution through operating cash flow and proceeds received in connection with the term loan financing.
Trive Managing Partner Conner Searcy commented, “Trive is committed to realizing returns of capital early in our investment hold periods for our limited partners while providing the capital necessary for our portfolio companies to grow to realize their full potential.”
“This recapitalization represents the culmination of several successful operational initiatives that have been jointly implemented by Redmond & Greer and Trive, ranging from bolstering the Company’s sales and client relationship functions to increasing financial flexibility to source in-demand product for customers. Trive looks forward to continued success in its partnership with Redmond & Greer,” noted Trive Partner David Stinnett.
About Redmond & Greer
Redmond & Greer Pharmacy Supply, headquartered in Dallas, Texas, is a wholesale distributor of prescription pharmaceuticals. From its three distribution locations, the Company provides full line generic pharmaceuticals to independent pharmacies and medical clinics in 47 states.